All Forum Posts by: David Nino

I get used cabinets when I can. Even if they just need a coat of paint, as long as they are solid, saves a lot of money. Especially for rental units.

awesome, thanks for the info.

Do you know of an REIAs around here?

Just wondering if there are any investors/landlords on here in the Quad City area. I have 20 rental units on the Illinois side. Looking to network.

I have used the BRRR strategy several times in the last few years but my best one was in 2018. Purchased in Feburuary for 40k cash from my line of credit. I put 12K into it for a total of 52K investment. The property appraised for 113k when I was done. I took out a 75k mortgage on it to pay back the 52k investment and put 23k in my pocket. Rented out the house for 1175. My payment on the 75k mortgage is 720 so I am cashflowing 455 per month on this property. Would love to find some more deals like this!!!!

Not planning on becoming an agent. Just want to continue using the BRRR strategy and live off passive income from my rentals. but when I get to the refinance part, getting a mortgage without a normal 9-5 job will be difficult. Currently I buy properties for cash, fix them up and then put a 20-30 year mortgage on them to get my money back. Then repeat process.

just wondering how to get financing for mortgages after I leave my 9-5. I have been using the BRRR strategy past few years but when I refinance banks always rely on my W2 from my 9-5 job. Any info on how to get around this when I leave my day job? Planning to quit in about 2-3 years

I just have all the tenants go directly to my bank and deposit in my business account. Their deposit slip is their rent receipt and they can go anytime M-F 9-5. Then I can log in to my online banking and see who has paid.

Just looking to connect and networks with other landlords and investors in the Quad City Area