All Forum Posts by: Dalton Dellinger

@Andrew LeBaron thank you. That's what I was thinking. I need to write down every task I do for my business no matter how big or small and find out what I can outsource and what I need to do personally. Good idea!

Hello BP, Does anyone use a Virtual Assistant in their business and if so, what tasks do you outsource to them? I am a new investor, but I feel like a lot of my time has been spent on things that need done but not necessarily by me. When applying the 80/20 principle, I am looking to eliminate the 80% of my tasks that only give me 20% of my productivity. Any input is appreciated. I love hearing how others are handling their businesses. Thanks, Dalton Dellinger

Hello. If you have deals like this still available or come across them often, I would like to be on a mailing list as well please. My email is [email protected] . Thanks!

John "Dalton" Dellinger

Hello everyone! I have met @MarQuita Johnson at the meetup. I recommend it to anyone wanting to network in the area and learn from others. I would love to connect with any investors in Evansville. I am going to be at the Tax Sale tomorrow.If anyone wants to grab lunch afterwards I would love to talk. I am mainly a buy and hold investor but am open to any strategies.

Hope to connect with you all soon,

John "Dalton" Dellinger

@Daniel H. Thank you for your advice. I too see Jay helping newbies like me on the forums all the time! Thanks Jay! I understand what you're saying about trying for an all-cash route as opposed to financing. However, I don't have access to that much liquid cash just yet. I do however have a HELOC and credit cards that could give me access to 50k plus. The thought of that much credit card debt scares me though lol. It's hard in this business first starting out but I know with persistence I will find funding and I will succeed! Thanks again everyone.

@Jay Hinrichs thank you so much for your insight. There have been multiple scammers message me like that. I will keep my options open to local HML. @Caleb Heimsoth I might still do that if he tried to get a hold of me today lol. Thank you guys so much!

@Jay Hinrichs @Yolanda Eiland thank you both for the research for me! He did have broken English, he was very pushy, and his account closed the day after I talked to him. I thought that was all very suspicious. I'm glad I asked you before I just wired him money!

Has anyone ever heard of United Loan Management Company out of Las Vegas, Nevada? A guy named Steven Wilson messaged me and told me he saw my post on here asking for funding for a house hack/flip. He said that he would fund my deal but has asked ZERO questions about the property. He asked me for information about me (but not my social security number) and has already "approved the loan". Is this a scam? It sounds too good to be true.

Hello BiggerPockets Community!

I would like to start with an introduction. My name is John "Dalton" Dellinger. I am a 24 year-old investor out of Southwestern Indiana. I work at a huge Toyota factory in the area in the Skilled Maintenance trade. Starting in July of 2017, I read everything I could get my hands on and listened to AT LEAST 500 podcasts. I continue to listen to the BP podcasts every week!

I bought my first duplex in November of 2017 to house-hack and have been living for +$423 a month (downstairs rents for $1000 and mortgage is $587) since March 2018. I acquire this property through an FHA loan through a local credit union.

In February of 2018 I bought a single-family house around the corner from my duplex. It has a positive cash flow (including vacancy, maintenance, cap ex, PITI) of about $150 per month. I acquired this property through traditional financing.

I just closed on a fourplex in August 2018 in Evansville, IN. Once renovations are complete, it will bring in approximately $481 in cash flow. I found this property on Facebook and secured a land contract from an investment group out of California.

I am now looking to acquire another property as a House-Hack in the same city as my duplex and single family. I am talking to a lender about getting a 203k loan, but I would prefer to have Private Financing if I can get it.

The property is 2 stories with a full basement. The current livable area is 2,554 sq ft. This includes 3 bedrooms, 2 full baths. Extra rooms include a dining room, living room, and home office. The basement is an additional 1277 sq ft with multiple rooms and a half bath, and it has a separate entrance for the basement. I plan on putting new flooring in, repairing the ceiling, and adding a corner shower to make it a full bath. Once the renovations in the basement are complete I would like to put a latch on the door to the basement and rent it out for approximately 550-600 a month (with utilities being included, this is very marketable.)

I would have multiple exit strategies with this property. I could do a BRRRR method and pay my lenders back, keeping the property as a duplex and receiving cash flow every month. I could take the latch off and roll the property into a 1031 Exchange and put a down payment for a larger property. Or I could live in it for 2 years to avoid the capital gains tax.

I am looking for private lenders to finance 95% of the costs, (purchase price plus rehab costs). I have more pictures and can give plenty more information for the deal. The realtor I am working with said that I need to have financing established before he can even submit an offer. I would like to get the property under contract for $60-$65k. The ARV is approximately $130k in my area and will require an estimated $30k in rehab costs. If anyone is interested in doing this deal with me feel free to message me on here or I can give you my email upon request. Thank you all so much for the information posted on BP and I look forward to working with one of you!

@Jose Trevino welcome to BP Jose and look forward to seeing you again at the next meetup!