All Forum Posts by: Andrew Martel

Love it! I just can't seem to find a house I can purchase AND rehab for 50K that's worth double that!  Good on ya if you're finding these!  

We're working on a BRRR method right now but utilizing investors to buy houses in bulk and blanket refi.

@Sean Richway I sent you an email.  Thanks for your reply and I look forward to hearing back from you!

We have just moved into a market with vast opportunities. We are seeking private investors to work with us and provide funding for buy, fix, and hold SFR and Multi-Family properties. I also have a 74 unit apartment complex opportunity that needs funding. If you are interested, please message me and we can discuss the details to see if it something you would be interested in. Hope to hear from you soon.

Best Regards,

Drew Martel

Kathleen, 

We are interested in #62TW

Thank you!

-Drew

It depends on what exactly you're looking to do. San Antonio properties move quick, so you have to have your ducks in a row. There's a lot of great areas down here. Are you looking mainly for flips? If so, your best bets down here are auctions, wholesalers, or off MLS deals. The MLS is very thin, everything is priced very close if not at retail value.

I've got a deal on a Fourplex. Since this is my first one, and I will be off site for the rehab. I'm trying to get the courage to pull the trigger. 

• 4 Units each 2bd/1ba 830 sqft ea
• Asking Price - 55K
• Taxes $2451
• Insurance ~1300/year
• Rehab Cost ~50K
• Hard Money-
• ARV Range $148K-$195K
• Rent Comps 700-850/month
• Property Mmgt 10%

Here's the thing, because of some other deals I have working at the moment (SFRs), I can only put about 10K down on this house, the rest has to be hard money. Plan would be to hard money the rehab for the next 6-12 months. Push to have the rehab accomplished in less than 60 days, and rent each unit for 725-750/month. This puts my cash flow around $655 (0% vacancy), with a hard money loan. After seasoning, get a home equity loan on the FMV which at 80% LTV puts me at 118K mortgage. This pushes my monthly cash flow to 1655/month. Exit plan would be to sell.

The numbers look great to me, but I'm just iffy on such a big project and not being at the location. Suggestions? Did I miss something?  Thanks!

Ok so I am looking to purchase property out of state. Currently I live in Texas but would like to open an LLC and purchase property in VA. How does this work? With my other two companies I have a series series set up in Texas and is the member of a LLC in another state. However in VA I need a registered agent that resides in VA in order to register the LLC there. For my other companies this wasn't a problem as one of my partners is located in the state that has the subordinate LLC.

Suggestions on how to go about doing this?

I highly HIGHLY recommend reading the Section 8 bible by Michael McLean if you're interested in section 8.  I've recently started to look into section 8 in that are as well.  That book will give you the complete low down on how to manage those kinds of properties.  Good luck!

Series LLC!

Hey john,

Active Military here as well and I was in the exact same boat.  Good on ya for planning for the future! Here's what I did.  I essentially took an entire year and learned much as I could about real estate.  Every weekend that I had available I would go out and look at properties and run my own analysis on them as practice.  I decided what my niche was going to be, and learned as much about that as possible.  I also saved my mulah for that entire year with a goal amount in mind so that when I was ready I could act.  Once I felt comfortable enough to jump in, I did. I didn't hesitate, I just did it. 

I would suggest getting smart and research your options. Get to know your area or the area you want to invest in and decide what your goals are. Make them very specific. Not "i want a lot of money" but rather something like "I want $8,000 per month in passive income after taxes in 6 years". Give a number and a time frame.  This will help you decide how to approach the investing side. If you go the multi or sfr route, then you can determine how many units you need at what level of cash flow in order to make it happen.

There a are lot of factors involved with how you can approach this. Hit me up any time if you want to chat.  I'm glad to see some more military folks getting their hands dirty with real estate!