All Forum Posts by: Johnny Jones

@Tom Shallcross this is how it’s done until you establish some sort of trusting relationship. I’ve recently worked with an investor from BP who gave me 50% of the project total after I completed half the work (about a 1 week project), these are terms we both agreed upon. I was happy, they were happy.

@Theresa Harris that sounds great, thank you for your feedback. It seems like I get the jist of what to do after the first one. It’s just getting that first one is where it gets kind of hazy for me. More or less taking tangible action towards achieving my goal of buying my first rental property.

By this time next year, my goal is to have improved my credit history/score and to close on my first home.

My plan is to implement the brrrr method, buy a home that has some upside potential through forced appreciation & within a year or so rent it out.

I currently rent with my girlfriend and our son and feel the best approach to getting started with limited funds would be to do it this way.

On the other hand I have done some work on a rental property for another BP member. After I expressed to her my interest in real estate investing she told me about BP & we’ve since had a conversation about potentially partnering on some deals later down the road.

My question to those who have more experience in this than I do is: How would you approach this situation as far as what I should focus on for the next year if you were in my shoes?

@Michael Masterson great, thanks! That sounds pretty straight forward to me. I wonder if any one here in BP has enough data to see if there is a trend between rehab cost compared to ARV & purchase price? Just thinking out loud here. What's this BP rehab estimator you speak of? Or are you talking about the brrrr calculator?

@Michael Masterson thank you for sharing your experience. Definitely helps a guy like me who's trying to gain/learn as much info as I can before I jump into REI. I have 1 question for you, how do you go about estimating rehab cost? Do you have a GC give you a bid prior to placing an offer?

@Keith Smith I’m new to this as well (currently educating myself). The best advice I’ve ever received that can be applicable to your question is stop looking for a silver bullet. You actually hinder your ability to be successful in any endeavor by looking for the “one thing” that will solve your problems. You’re on the right track by reaching out and asking for suggestions from those who are experienced in what you want to be involved in. Surround yourself with people who are where you want to be.

@Andrew Syrios thank you Andrew

@Bryan Drury thank you!

Hey BP members,

My names Johnny Jones & I’m 25 years old. I’m in the business of marketing and providing painting services to homeowners, business owners and general contractors located in central Kentucky.

Working in this field I have become increasingly interested in learning about real estate investing specifically the brrrr method. I’ve worked along side many people who are active in the real estate sphere.

I’m here to FEEL (Focus, Educate, Execute, Learn. An acronym Brandon turner coined). I’m currently gathering as much info as possible and will be reading up on the beginners guide soon. I’m currently having trouble with putting the pieces of the puzzle together.

I have a private investor who’s willing to back me on a deal, a brrrr deal. I just don’t quite understand the steps to take after finding a potential deal.

Any suggestions are greatly appreciated! I look forward to building relationships within the BP group.

Regards,