All Forum Posts by: Jordan Bowen

I am about to embark on my first flip with an experienced REI that I met in college. He has successfully flipped numerous houses and has run a LLC for 5 years with a lawyer on retainer for legal purposes (whereas I have no lawyer). We have verbally agreed that I will fund the property in cash and he will fund the rehab in cash. I find out today if my offer is accepted then we have a 10 day option/inspection period. I do not want to be naive and just “trust” someone cuz I met him in college and he’s a good guy. I’m looking for a solid contract that ensures we each keep our part of the deal alive and then we split the ROI however we deem fair. I am open to all advice regarding this matter. Thank you!

I listened to the BP podcast with Alexander Felice regarding the BRRRR strategy. And while it wasn't my first time hearing about the BRRR process, this podcast was definitely the most intriguing information I have heard regarding it. What I gleaned from the podcast was something like this:

1. Find the deal and purchase all cash 

2. Fully finance rehab costs in cash 

3. Go to title company, add rehab costs to original title/HUD

4. Appraise

5. Rent

6. Refi 75% of ARV for next deal

My first shot analyzing a deal in my county:

$65k out of my pocket (43 for the house, 22 for rehab)

Estimated $90k ARV= $67,500 cash return (assuming I pull out 75% equity)

I receive about $850/mo from rent based on comps

HELOC= $393/mo payment to bank (4.2% interest)

$85/mo to property manager 

Meaning I gross approx $372/mo 

Zip code is 31904. Interested in seeing what other things I need to consider. I'm still a few months from pulling the trigger on an actual deal, so I would love to hear constructive criticism now! Thanks!

@Trevor Ewen 

I suppose just a larger variety of deals. I just listened to the BRRRR podcast with Alexander Felice and it's finally starting to click with me.

I can see the value in centralizing them and utilizing one solid management company, but 10% in SoCal is the same as 10% in DFW in terms of management fees (not saying those are accurate averages). But there may be stellar deals offering awesome ROI in both areas six months apart, so as long as the "power 4" (as they called them in the podcast) are established in both areas then it really just comes down to deal chasing.

At least that's how I see it as someone with one rental and a big dream lol 

FIrst tIme poster. Have one SFH rental in central Texas, currently lIvIng In my second SFH In GA that wIll rent when I move next summer. Want to really start to focus on multIplex rentals for passIve Income. Question If I want to Invest In the boomIng parts of the country and have a trustworthy national lender that I work with, what are: -strategies to find good cap rate multiplex properties (2-4 unit) -other things I need to consider if I already know I’m using a property manager (and wIll always see sIght before offerIng) -some success stories from individuals who invested from a great distance (in country) Thanks!

Josh Carr thank you so much! I'll be sure to look through those resources

Can someone attach the websites/links they have found most helpful when understanding Tax Liens? Specifically in Texas if possible. YouTube has seemed a little vague and not in the nitty gritty. Thanks!

Hello, my name is Jordan Bowen, I am 25 years old. I live in Killeen, Texas (Harker Heights boundary) stationed at Fort Hood as an Armor Officer. I am deployed overseas but would really like to build my base of knowledge while I am here so I can hit the ground running when I return in November. Primarily interested in wholesaling! Building contact lists, how to find sellers and buyers (easily), how to make contracts and assign them, looking for R.E. litigators to help make the process smoother and more legal, and how to do all of it under a LLC. But most of all, looking for advice! I have no background in real estate and I come from a family who works for money (Robert Kiyosaki reference) and I'm looking to go against the grain, here. Any help is welcomed!