All Forum Posts by: Kevin M Dobyns

@Larell Kelley i found this property on a MLS. It was 45k listed, and I searched around the values of the other properties in the area and they were in the upwards of 65-70k. This one does need some work, but I can hopefully save my self a lot of money by having my friends and I who work in the construction industry fix it up. I forgot the exact numbers off the top of my head but I am financing it with a 30 year mortgage, interest rates are low right now. So I believe my payments are under $200 if I'm not mistaken. Could easily rent out for 650-750 once it's fixed up, and then I will refinance the property with its updated value after the rehab. All said and done I'm hoping to bring in 3-400 a month in cash flow.

Just wanted to say thank you to everyone for the support and reaching out! Would love to talk more and like I say, always willing to learn and listen!

@Ken Bush Hey Ken, I have been reading books, listening to podcasts, and talking to other investors on and off for a couple years, up until about the last 6 months or so, I guess it just clicked that it’s better for me to get in sooner rather than later. I want to be a predominately buy and hold investor, but not opposed to house flipping if the deal is right. I have found a mentor and private lender and am able to do a lot of the rehabs (when necessary) with a team of friends. It took a while to build up the confidence for me honestly but I just figured what is the worst that can happen. I want investing and rentals to eventually be my main stream of income and like I said, figured now is as good a time as ever. Wish you the best

@David Avery as I stated, I’m well researched, but of course have no experience yet with rehabs, and am still learning what to look for, I’m afraid of some mold, and window rot, because this house is definitely a fixer upper, lol. And there is an issue on the roof that doesn’t seem to be too big of an issue, I suppose my hesitation is because I don’t want to take on too much in a rehab on my first property, and I have a little anxiety about the foundation. But, I’m wanting to take it on because I believe it can be a good learning experience and I know I can add value to the house, and do a lot of the work myself. I suppose If anything big comes up though, the price could be altered or the seller could possibly fix some things up. There is also a “garage” but it looks like the leaning tower of Pisa right now. I am up for a challenge but I just don’t want to go in there and lose thousands.

@Richard Forbes not sure how much of a deal I got yet! Haha. But I've just been really active on the MLS, driving around to see properties, and I was just trying to be quick because every property I've found has had multiple offers, and they go quick. Hoping this one goes through but it'll need some rehab and hopefully the inspector doesn't find anything too much to where I'll need to back out of the deal.

@Zach Lemaster absolutely! I will keep everyone updated. I am expecting the worst! But will keep my head up and deal with whatever comes my way. Thanks for the advice and stay safe out there!

@Jonathan Termun yes sir! Already on the prowl! Lol

@Jaquetta Turner yes this was definitely not the first offer I’ve put in! Lol but glad it was accepted. Hopefully the start of something big

@Justin Gottuso lets go!! Congrats as well man. Beginning of the rest of our lives!

@Brian Geiger I plan on using the BRRRR method with this property, I am using a local credit union for my financing