All Forum Posts by: Michael E.

IT'S OFFICIAL!!!! 90 day challenge complete!

I closed on the 29th and after a few delays with the wire transfer it was finished and (I think) recorded on the 30th. I hope to get a "SOLD" picture to add to my BP profile's investments section soon. My agent, @Nick Harris and the @FIRE Reality Team have been fantastic. Truly rock stars! Not only did Nick find a great deal for me but they also have a great contact and resource list with everything I need to make my rental a success. Nick kept me on track for the 90 day challenge and when I was freaking out that I was "buying a crack with a house around it", Nick helped me take a step back and see (and understand) it for what it was, "not a big deal". I hope to close on another deal before July and a third deal before 2023.

Thank you so much @Brandon Turner and @David Greene!

Closing date set for December 29! The lender took more then 50 days to give final approval so I think I missed the 90 day deadline by a day or two :(

Guess I'll just have to try it again ;)

I'll post again after officially closing.

@Tom Bell

Any plans to restart meetups in 2022?

 This depends on where you live. In Michigan, all it takes is a 60 hour training course (state approved), passing a separate test and submitting an application, to be state licensed as a residential builder, i.e. a general contractor. I was planning on taking the class in February but now it will depend on if the schedule conflicts with the BP bootcamp I signed up for. I 100% agree this kind of training can make a world of difference if you lack other resources. Even if you don't get licensed.

Don't limit yourself or your beliefs just because you don't want to leave your friends/family behind. Be phenomenal and you will attract phenomenal.

@Jorden House-Hay

This is outstanding info! Thank you!

This should be pinned at the top of the "Local Real Estate" Forum.

Again, thank you for the fantastic information and the "mini-masterclass" on how to do it ourselves.

@Anthony King Edited my post, this is just a community poll.

Hello BP,

Okay here's the scenario. You have a deal in front of you. It's a base hit deal that cash flows and could turned into a triple but with one small caveat. The only financing available to you, comes with a payment that would make this a slightly negative cash flow deal. So now here's the question. Do you take the deal knowing you will be able to obtain more favorable financing at a certain date in the future? OR Do you pass on the deal until you can obtain more favorable financing from the start? 

Deal or no deal, what's your vote?

Edit: This is just a community poll.

January might be a better time then December for this info but @Dave Foster, @The 1031 Investor has a video series that is basically a master class on 1031. https://www.youtube.com/playli... I can't wait to do my first one.

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