All Forum Posts by: Kirk Catt

Ok, So in the last year we've bought 5 LTRs and 1 STR. We are at a point with enough cash flow that if one or two properties go vacant, the others can cover it. We're at a point where we don't know what to do next. I know there are a hundred ways to make money in RE. So far, we've done the 20% down, conventional loans. But how do we start scaling up when we can't keep going with these type of loans. Yes, i'm rambling, which shows how much direction i need. Where do we turn now? Which books, research, strategies should we be learning? Pretty broad questions i know. Basically, How do i move into doing this full time?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $79,900
Cash invested: $30,000

LIttle two bedroom 2 bath making some good cash flow.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $129,400
Cash invested: $35,861

Closed on our 2nd out of state LTR. Conventional loan with 25% down. Closed at $129,400. Should net $525/month after expenses. Since Rookie Boot Camp we have added 3 LTRs and 1 STR totaling $855k in holdings to our current portfolio. Now to start using other peoples money to add more in 2022!

What made you interested in investing in this type of deal?

Cash flow

How did you find this deal and how did you negotiate it?

Through Realtor

How did you finance this deal?

Conventional with 25% down

How did you add value to the deal?

updating and repairs

Dominiq - rent is $850 on this one, cash flow is $165/month.   It introduced me to the market and got me in with some local professionals.  staying in the same area I am finding cash flow around $400/month on properties that are a little higher in price.

Investment Info:

Single-family residence buy & hold investment in Warner Robins.

Purchase price: $83,000
Cash invested: $24,000

First out of state rental investment. Not huge cash flow, but it got me in the market and is a steady producer.

Investment Info:

Single-family residence other investment.

Purchase price: $365,000
Cash invested: $92,000

First STR under construction and will open in November 2021. There are more than 200 wineries within 50 miles of this location. Area offers several large events from sports tournaments to hydroplane races. As a research and development area, there is ample opportunity for long term corporate rentals. Finally, we have a large regional hospital and another similar facility going in within 20 minutes, so another possibility is renting to traveling nurses.

What made you interested in investing in this type of deal?

First chance to partner up with local investor on a great project.

How did you find this deal and how did you negotiate it?

I'm a licensed Realtor in Washington. Purchased New Construction.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Equity partner with knowledge of investing and analyzing deals.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $265,000
Cash invested: $8,000

Never overlook the easy ones. Helped my Dad buy this home with his VA loan. I paid closing costs. Now his VA checks pay the mortgage. In less than 2 years home is now worth $320,000.

What made you interested in investing in this type of deal?

Working with family

How did you find this deal and how did you negotiate it?

On the MLS. Paid full price in a fast rising city.

How did you finance this deal?

VA Loan by Father

How did you add value to the deal?

Paid for closing costs

What was the outcome?

Great house that will make a good amount of money when it is sold

Lessons learned? Challenges?

How to partner with a relative.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am the Realtor on this one.

Investing in and around Warner Robins right now.  affordability is the big reason right now. I can buy 3 properties and cash flow over $250 ($750 total) vs. 1 property at $250 cash flow in my area. I also like that it is near the AF base and can work with military personnel.