All Forum Posts by: Dylan Rogers

I'm about to finish my first BRRRR deal and have an opportunity to purchase a few properties from a seller through seller finance. They want 10% down, 9.5% interest over 30 years. Now clearly that's a lot of interest and we haven't negotiated at all yet. My question is, should I focus my money that I pull back out into buying these seller financing deals to start getting cash flow right away, or keep recycling it into more BRRRR properties which will be slower to build up the portfolio. Note these seller financing deals are turnkey.

TLDR: lock up my available cash in seller financing for more cash flow faster? Or continue BRRRRing with the same money repeatedly?

@Megan Hirlehey

Thank you for you insight! I really appreciate it. You have completely valid arguments and a similar thought process to me. The increased income would definitely be a benefit by applying it straight to real estate.

Thanks again

@Megan Hirlehey

Contractor job is salaried, but from my understanding it's consistent work. I couldn't guarantee that, but that's how the offer sounded. It would be as a worker bee learning trade skills and such.

No to the large cash reserves. that right there might be good enough reason to call it.

I'd like to be hands off down the line so I agree with the idea of why learn skills you won't use, however my thought was it might be good to know the actual cost of doing each project so i can better negotiate contractors with the experience of having done it myself in the past.

It's hard to argue with good benefits. Currently real estate is part time, but i'm eager to make this full time as quickly as possible. There will be no giving up on my end :) 

Thanks for your input @Jaron Walling , it definitely helps having a second opinion on this type of thing.

Hey Bigger Pockets Community,

I'm currently being faced with an interesting dilemma and wanted some input. I work an OK 9-5 office job at the moment and have been presented with a few options. I've had an offer of another, better paying office job, and an offer of an equal paying contractor job.

I'm curious which one you all think would help propel me to my end goal faster. That goal being a full time buy and hold/BRRRR investor. I'm new to the biz, having only done 1 deal so far.

Does it make more sense to go after making more money to buy more properties faster? Or is it better to earn the same for now and learn the skills to put to use in rehabbing projects down the line? There is also potential to earn more money with the contractor position as my skills increase.

For easy numbers lets say I make 50k/yr at the desk job. The higher paying desk job is offering 70k and the contractor job is matching the 50k.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $16,000

Using this property to house hack.

What made you interested in investing in this type of deal?

It was flipped by my parents and they gifted me equity in the property upon purcahse.

How did you find this deal and how did you negotiate it?

Family members

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Currently remodeling the basement.

What was the outcome?

Using this property to house hack.

Lessons learned? Challenges?

Don't underestimate the cost of fixed expenses.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No, it was for sale by owner.