All Forum Posts by: Tyler Kimmel

And Orange County

No problem. I wanted to make a point that good things will happen despite how you may feel right now.

"If you Will it, it is no dream"

Keep me posted

I found a seller who was going through a divorce and unloading 14 of his properties, many where old houses in extremely "hot" neighborhoods. None of them were even on the market. When its all said and done I will have purchased 8 of them. I found him through looking for deals on Craigslist. He was advertising only one of his properties and come to find out he had many more.

I found the "jackpot" with this guy. You never know where it will come from. Thats why you can't give up. I am on my 4th business and finally finding success after 12 years of being an entrepreneur (33 yrs old).

I have been traveling from CA to Indiana and visa versa every 60 days for 2 years. It's been grueling but I have created a great team of agents, contractors and crews. I own 7 rentals that I manage from CA. I do not work with PM yet.

I have bought bad properties that I have been totally upside down, I have had a property taken back by lender, I have lost $30k in more than one flip, I have been ripped off by contractors, my homes have been severely vandalized, I have been homeless and the list goes on. All in 2 years. It has been really bad at times.

I never lost sight of the dream tho. I think you either have it or you don't. Some are willing to sacrifice and some aren't. Don't be afraid to lose money. Put the best deal you can together and pull the trigger.

One thing that helped me is I bought 4 rentals first and that provided a little cash flow as I began flipping. Somehow it was enough to keep me going.

I am 2 years into my rental/fix/flip business and its been a complete pain in the *** with more sleepless nights than not. Went broke many times. I wanted to quit 100 times. I started with no money and and didn't make any money for 2 years until 3 months ago I made $100k on a flip. And I will make about that on the one I am working on now. Point being… Just Keep going!

I am running my business from 2000 miles from where I live and I am doing it. You should be able to make it happen … Get creative with your deals.

@Zach Schaar Thanks

@Chris Feltus Awesome! Great info. Thanks

I have previously been focused on Buy/Hold and now I am looking to incorporate Wholesaling to my Business Model. Can someone please advise me the types of the Contracts I will need between myself and my end buyer? Thank you!

@Account Closed yes its possible they could eat me alive. The tenants I have chosen for my properties are A+ but I have inherited some nightmare ones. Ouch!

@Chris Adams All good advice. Thanks Chris. The tenants didn't pay the last 2 months so I kept their security deposit. I do have equity in the home tho just a little bit. I will see what my CU has to say. Appreciated.

@Patrick L. @Chris Adams Thank you both for the response. I can do all the work for $5000. I inherited these tenants with the property when I purchased it and ended up being a nightmare. They ended up taking all the appliances too.

@Chris Adams I would have paid off under 6 months most likely sooner. I currently have my cash tied up in 2 flips that are just waiting to sell. When one does sell I should have most of the money available to give back if not all.

@Bill S. My credit is on the rebound. I had an old business that didn't end very well and it hurt my credit. I am a new member of a credit union as well. I will reach out to them. Thanks