All Forum Posts by: Jared C.

@Michael Radney I’m not looking for a full gut job, just some light rehab. I can do most “handyman” work myself which would save me a lot on a light rehab work. Drywall, flooring, paint, landscaping, etc. Although I do agree I need to find a reliable GC. What advice do you have in finding quality GC and trades and how to filter other than personality? 

@Luke Stewart thanks for the feedback, and good luck to you as well on your first! I’m continuing to look for deals and trying to get better at analyzing deals in different markets, while I wait for it to stabilize a little more, and see if this softening brings out anymore inventory. 

@Dan H.  I’ve come to realize most of these challenges as I’ve been re-modeling the ground floor of my primary.

I know it’s overall a challenging time In several areas and aspects of the market. I’d love to hear what has worked well for your business during these times, and what hasn’t. 

Even though you agree the BRRRR strategy is great for starters, would you advise to wait the market out, or dive in (assuming a good deal has been found)?

@Michael Radney Thank you for the tip! 

@Mike D'Arrigo I appreciate the insight. That is exactly why I posted this thread, is so I can get others opinion and advice on various strategies in this current and near future market, for new investors. 

Depending on the property. I have some cash set aside, and about 25K I could pull out of my primary. The main goal is to acquire a property that is paid off in 15 years, to possible sell at that time and use for a college fund. Also, it would be the first property to start a portfolio of hopefully many eventual properties.

 I am trying to decide,  depending on what deals I am able to find, if it would be better to:

1. use hard money to buy and rehab a property, and refi into traditional 15yr fixed, using the cash I have for closing costs, fees, possible rehab overages, pull out what was put in, and put it into my next property

or  

2. use the equity I have from my primary, to put a 20-30% down payment down on a property that needs some light rehab, if not basically turn key and just let the tenants pay it off over time 

@Nicholas L. other than the BRRRR method, and the house hack (which really isn't a feasible option for me) what do you feel the best method for a beginner investor would be?

Thanks for the feedback! If I was able to pull this off, I feel that would be the ideal start. Even if I failed, and was still able to recoup 99% of the cost, I’d be happy with that. 

That’s the idea! If I could find the right deal, it seems like the best strategy to get a property with paying very little if anything at all after all is said and done. 

Thank you for the additional resources! I know finding the right property to make a deal like this work would be very difficult, especially for a newbie. I am just trying to find the best strategy for getting started with a buy and hold portfolio