All Forum Posts by: Michael Beeman

@Melissa Gittens  Thank You!  I will absolutely do that!! I'll probably post again when we hit those next small goals of 75 units, and 100 units. 

@Ernie V. Thank You, An episode where I was interviewed on the Joe Fairless REI podcast back in March aired today.

@Michael Swan I have found this to be the case in our area as well. Much of the time, rents are simply well under market rates, and average looking deals can be turned around by simply raising rents to market rates.

@Victor S. We have BRRR'd out of 9 properties with 3 projects currently ongoing. We have only done 2 SFH's currently, altho I literally just accepted and turned in the paperwork on a counter-offer from Freddie Mac on a house they owned locally. We are considering "flipping" it and just using a 1031 exchange to turn the profit into a downpayment on multi-family property.

@Kevin Cox  Thank you!  Yes, there is no better time than now!

@Deborah Higgins  The BRRR method is a process of "Buy, Rehab, Rent, Refinance.  It's a process by which you buy a dilapidated building or property, bring it up to good quality through a rehab (if you are efficient and you have a good deal you can often increase the value of the building much higher than the cost of the rehab), rent it out (often for higher rents), and then refinance it. 

@Cheryl Butler Yes, I have found here in the midwest, especially when you step a little bit outside of the largest markets has some great opportunity for amazing returns. We regularly get 50% cash on cash ROI's and we have done multiple deals this year where we get Infinite Cash on Cash ROI because we refinance out more than we put in after we do a major rehab on a multi-family building. From what I hear from East and West Coast investors is that it is much more difficult to find any type of deal like that in those areas.

@Ian Walsh  Thank You!!  We are pretty excited!!

@Dennis Askey The BRRR method is a process of "Buy, Rehab, Rent, Refinance

@Anthony Hatch Absolutely!  It's more than possible. I think of it as "there are those that quickly or  eventually get wealthy, and those that just give" Those are the two basic people that I have seen in Real Estate. A retiring landlord that I bought a 10 unit building off of told me  "I started this when I was about your age (I'm 34), and everyone told me, 'Why would you wanna be a landlord, tht sounds awful' But, I did it anyways, had 40 some units at one point, and I've never made so much money off of any investment or anything, as I have off of Real Estate, you're on the right track young man"

@Marcus Smith  Thank You!!  It's been a life-changing first year!! 

@Jody Rendell Hey, shoot me an email. And I can shoot you some Ideas on structuring partnerships.

@Shannon Uhr Thank You!! Yes, I tend to be high energy. I did a speaking event for a REI and I had to be told to slow down just a bit.. lol

@Addam Driver  Thank You!! 

@Salvador Aldrett  Thank You!! I'm glad I could inspire. 

@Samuel Liapis  Find the deals, Funding, and learn how to build systems for management. Then you can do the same thing our team did. 

@Matt C.  Thank you!

@Alex Platt I was interviewed on Rod Khalief's show and it kind of covers some of that in the episode mentioned above. But as far as detail goes, that would take a bit to explain. 

@Alex Platt We started with about 60k, and we found some awesome deals. Used the BRRR method, and found a bank that would work with us and refi our equity we built up through the rehabs and rentals as soon as projects were finished.

@Steve Moody  No, I work full-time. Real Estate was my side-hustle that turned a 45 hr work week into a 55-65 hr work week. But we love it! So it doesn't feel like work.

@Daniel Lee  Thank You!!  This has been a life changer.

@Wes Blaney  Yes you can!!  Right now I'm filling out a contract on an offer we had accepted on a Freddie Mac house. We are just adding more everyday, shopping for great deals!! 

@JD Martin Yes we absolutely did. So when we got the deal on this house, and we knew it needed some flooring done, and needed some plumbing work done, we didn't hesitate because it saved us 50k in purchase price and we can do the work with our crew for 10k. It really sealed the deal on the purchase.

i give credit to our tean first, and to taking action, and following the steps laid down in Brandon's books, the BP podcast, Rod Khaliefs multifamily podcast, and just an overall desire to grow this business.