All Forum Posts by: Edgar Butler

@David Harris Your in the right place here at BP. My suggestion would be learn as much as you can on the BRRRR method. (YouTube, David Greene's book, etc)

Using hard money to acquire may be a great way for you to get started without having a ton of cash on hand.

Another option may be house hacking with the use of a FHA loan.

@Cynthia Miller Hi Cynthia, I’m a realtor in the Detroit market. I can review your properties with you, and give you an idea of what the market will bring for each.

Then you can decide what your best course of action would be?

@Lisa Hill That amount of equity can go a long way to funding a profitable portfolio in Detroit or Cincinnati.

Couple of things I’d recommend is The BP book on “Long Distance rental investing”. The book has a lot to offer for a person in your situation.

Search the forums here for the different cities your looking at, a lot of people with great knowledge on investing in these areas.

Lastly when you figure out where, reach out to some investors, realtors, contractors etc to pick their brains on the topic. Most people are receptive and will be willing to help.

@Kyle Brodwater Have not worked with her yet but really considering it. And I actually live here. She offers 30min coaching calls on her IG: @Detroit_Investor. As well as showcasing her current rehabs/ before and afters there.

@Scott Trench I will be interested to see the final numbers for this study.

@Nicholas Covington Good deal, what’s the typical period of rental income you would need to see? 6 months?

@Nicholas Covington Not yet, just want to know if it’s possible before I start down that road.

@Travis Biziorek Right, It would be my first property, and I can’t use income from being an agent until I establish two years of self employment income. So no w2 to show for the refi.

Hello All, I'm a newer investor realtor in the Detroit market, and was wondering if you guys had any suggestions on how to refinance a BRRRR without POI? Or is the loan based on rental income not personal/ business income?

I recommend checking out Ricky Carruth on YouTube and ZeroToDiamond.com he offers a free coaching program and gives guidance on building your marketing list. I’m beginning his 90 day program in the New Year, and I’m pretty pumped about it. 

There’s a first year agent out of Mississippi who closed over $500k GCI in his year following Ricky’s system. That was proof enough for me. Good luck brother!