All Forum Posts by: Evan Zelkovich

@J Massey

My first BRRRR was done through Myers. It was a pretty good experience.

I would love to have gotten the property for less, But they have to make money to stay in business, so I justify to myself that I don’t need to do the marketing or negotiation. The comps that I got from them were pretty good as well

@Joe Villeneuve

I am just learning now. My goal is to replace my income in 15 years using the cash flow from rentals. From 6-6, I am either working or commuting. My current circle of potential investors is almost nonexistent.

@Kenneth Garrett

Thank you. That is a goal for me. I am sure I will have access to some once I get a couple successes under my belt.

@Joe Villeneuve

I all ears. How do you find projects that when the refi is complete, you have no money into it?

@Kenneth Garrett

Thank you for your feedback. I am not looking for sexy or exciting. Just want to build my portfolio.

First off, real estate is a long strategy for me. I joined this group a week ago. I am finalizing my refi on my first project. It has been a valuable learning experience. I bought the house through a wholesaler in a town that seems promising. The rehab ran into two snags that put me slightly above budgeted. The contractor did pretty good work in a short amount of time. I was a little frustrated with a couple of the final details that were missed. I have renters in the house and after PITI, I should be making 10% on my cash. To me, not bad for a first and without a mentor or tribe to discuss with.

Now for the accountability- I used 2/3 of the cash I set aside for investing. I want to jump back in for another project, but I probably should wait for a couple months. 1 to let my wife gain some confidence and 2 to build a little more cash. I am ready for opportunities to meet people in person to discuss future projects.

Thank you for listening.

@Kenneth Garrett when you mention less than 300/month cash flow. Do you take into account your cash out of pocket for that guideline? If you put down 30k on a property and make 300/month, your cash on cash return is good.

Where are the best sources for private money.

@Dylan Layman

Welcome. I just started as well. I am in the Dallas area and just rented out my first.

@Bryan Noth. Bryan, repeat is exactly what I want to do. Just working on the capital for the next