All Forum Posts by: Andrew Martel

Just picked up a house with 9k.  Bought a distressed home for 35K and used a homestyle loan to fund it. I'll put 11-12k in it to bring it up to snuff and rent it out for 950-1100. 

Ok so here's the sitch (always wanted to say that :p).

I'm tapped out on equity, have only 20K liquid and need to fund a few properties. One is a low income property (under 45K) one is a 4 plex and another a duplex. The HML's i've contacted need more than I have to put down on the purchase and 20K is not enough to pull off all of these with traditional lending. I know I probably need to just select only one and go for it. If that were the case, I would go for the 4-plex.

What would you do in my shoes?

Looking for a local VA HML to fund a few projects. Please message if interested.

Looking for an investor with flexible financing capability.  

-8% interest only loan for 8-12 months.

- Investor will fund 90% of purchase price and 100% of rehab.  Investor will also receive a 5% equity in the properties funded.  

If interested please message me.

I'm looking for properties in San Antonio. If you have some still available, please pass my way.  Thank you!

I agree with the comments thus far. My father always said investing is great, but you need a foundation. So I would say a job is definitely a good idea.  

I'm not a fan of wholesaling.  That is me personally. I just don't have the time for it, but if you work it right, I'm sure you can become quite profitable. 

I love low income rentals.  A lot of investors will disagree with me, but for me, I can find fantastic cash flow, and if you're a handy dude you can get into a house pretty cheap with a decent return.  If this is something you're interested in, I recommend checking out the Section 8 Bible by Michael McLean.  It gives you the no BS low down on investing in these kinds of properties.  As always you can PM me to talk a little more. 

There's also flipping.  Though with 40K you're looking at a hard money route which can be a tough angle to work... not impossible, just tough. 

Good luck!

-Drew

@Brian Mathews I hear ya. Austin's rough.  I couldn't make it happen in SA, had to look out of state..

Hello all.  We're looking to get on the buyer's list of some wholesalers here in San Antonio.  If you're a wholesaler in the area please PM me so we can discuss.  Thank you. 

@George Calbert - Active Mil here as well.   I would say that your savings goal is aggressive, but I did the exact same thing to get me ready to start investing (it was more like 2k a month for me..putting 2500 away is great!).  I read a lot of MMM which encouraged me to reduce my cost of living significantly. I would say you have a decent plan ahead of you.  For me though, it was just taking too long to get to the point where I was comfortable with the amount of cash I had. So I partnered up and tripled the available capital.  The way I see it is that if I'm making money then 30% of the profit is better than no%. Might be something to consider for yourself.  This would push your timeline ahead a bit potentially.

I have an investing mentor that encourages me to read the "book of the month".  June's book is Think and Grow Rich by Napoleon Hill. I've read it before, but as I've gotten more into investing, this re-read has really helped make it stick.  If you haven't already read it, I recommend it.  It will definitely help keep the focus for you.  

Have you considered the BRRR method?

Meetups! Networking! Make sure you have your ducks in a row.  Good luck!