All Forum Posts by: Kenyatta Donley

Final update….

So here’s how my rookie first project ended up:

Purchased shell for $15,000

Rehab was about $150,000 (during COVID supplies shortage and price surges). No mortgage on the property. I used personal cash and business credit cards. 

Appraised for $196,000 in January

Listed as rental for over market based on level

of rehab. Signed my lease with my tenant for $1750 per month on February 2, 2023.

Completing a cash out refinance to clear out the high interest business credit. I actually sign tomorrow. 

It wasn’t pretty but I got it done and definitely proud of the results. 

My final message is don’t just join biggerpockets for entertainment. Make a promise to get started in 2023. There will be scary moments but you’ll get through and learn from your mistakes. I did!

Final update….

So here’s how my rookie first project ended up:

Purchased shell for $15,000

Rehab was about $150,000 (during COVID supplies shortage and price surges). No mortgage on the property. I used personal cash and business credit cards. 

Appraised for $196,000 in January

Listed as rental for over market based on level

of rehab. Signed my lease with my tenant for $1750 per month on February 2, 2023.

Completing a cash out refinance to clear out the high interest business credit. I actually sign tomorrow. 

It wasn’t pretty but I got it done and definitely proud of the results. 

My final message is don’t just join biggerpockets for entertainment. Make a promise to get started in 2023. There will be scary moments but you’ll get through and learn from your mistakes. I did!

 Probably an unpopular but great analysis. I think even more so looking at today's interests rates to borrow money for investment properties. I think people forget the piece that 401k contributions are deferred and not tax free....or just dont understand that point. I honestly didn't until recently. 

Just a quick update for those that have been following my progress. Here are some of the final photos (scroll up for some of the earlier photos). The project has been complete for a couple of months but was working through some final loose ends. We are currently interview potential tenants and hope to have it rented by the end of January (given the holiday). It's been an adventure and I have learned so much by jumping in and getting started. Certainly I would have done some things differently but all in all its been good!

It’s on the redi rent site. i have tried from different browsers, computers, website vs. app and same thing happens. it says please wait while we load your dash board and it never actually loads. it keeps cycling. The couple of times i got past that stage it took me a credit page and then after i enter my card i received a message that read “declined access”. that also happened several times with different cards and on different devices. 

No worries…trust me…it happens all the time!

Him…I m the dude in the picture. Kenyatta 😏

Just a quick update...been working with Redi Rent customer service since we got back from BPCON and still not working. 

Anyone else having a problem accessing through our pro level benefit? I actually tried on several different devices and without using our biggerpockets link and it keeps saying "loading....".