All Forum Posts by: Justin Frye

@Derek Sperzel True

@Jason S. your making $100,000 a year you should have no problem saving something every month. Read Dave Ramsey's book and i believe that will help you follow a system for getting out of debt and living below your means. Best of Luck!

Wow Dave Foster great answer and outlook I never really thought about it from that standpoint. I guess considering how I have a COC return of 16% it might make more sense to just do the cash out refi and try and snowball from there.

Kyle Lewis thank you so much and to be honest I’m still heavily considering doing the cash out REFI for that very reason, but I’m kind of stuck in between a rock and a hard place seeing how both could potentially be the right decision. I will definitely reach out and add you to my investor list! Look forward to potentially working with you in near future.

So my question begins with stating that I have a duplex in a highly desirable area in Columbus Ohio in which I’ve just got done rehabbing both sides. I’ve had the house appraised and I’ve got over $80,000 In equity in the property, I’ve come to the realization that I can now either do a cash out Refi on it and pull the equity out and repeat the process very similar to the BRRRR process it I can 1031 exchange it and look into maybe applying the equity into a larger 15-25 unit property. I should probably state my goals seeing how this question would very much depend on what those are, my goals right now are to move into apartment investing and eventually syndication. I figured if I could start out small or smaller than most larger apartments I could gain the knowledge and experience from owning and operating and apply that down the road with larger acquisitions. I Would like any and all advice as far as doing the REFI or 1031 exchanging the property and shooting for something much larger with a lot more units. Doing either or would be my very first of either refinancing or doing a 1031 exchange so I would preferably like to weigh out my options and decide what would be best and fit my goals the best. Any and all advice would be greatly appreciated!

Charles Richardson nothing is impossible and don’t let anyone tell you that you CANT do something. You absolutely can do anything your put your mind heart and desire into, you’ve got a lot of work to put into In Order to be aligned properly to be able to land an opportunity like this one. I agree with everyone that says focus on yourself and improving your overall situation, credit, income and overall self. Landing an opportunity like this one is a very difficult task even for the experienced investor. Focus on the small things for now and improving your credit and finances and watch how fast you can turn this into fruition. We live in he greatest country in the world and just like with anything if you put the work in you can make it happen! Best of luck!

P.J. Bremner thank you sir and will do!

Lemont Williams please feel free to reach out to me! Thanks

@lemont Williams please feel free to reach out to me

Hello fellow BPers I’m looking for some recommendations on any good GC”s based out of Cleveland Ohio or close to that area. Preferably one who is familiar with the 203k loan and the how the process works. My sister is having work done on her house and her contractor is demanding more money out of her after they’ve already signed a contract and now she’s stuck in her new house with almost nothing no kitchen, no running water from her sink no working shower and more. It’s been nothin short of a horror story for her and my nieces and nephew and I would like nothing more than to get her some god help ASAP! Please please please if you know anybody or can recommend someone please feel free to reach out and leave a message! Thanks again