All Forum Posts by: Michael Flanagan

Hey Tyler I’d totally be down for that! We can connect and get this figured out and make our way to financial, time and location freedom!

@Michael Dumler I agree with you 100% regarding in person relationships and building rapport amongst possible business partners. Already W-2 Employed and only doing it for the education aspect (apprenticeship program) barely netting 20k a year so funding a househack is not an option my current path. Although I may fund with my VA loan when I become eligible (soon) thats an option or I scale a business before that time.

So what your saying is I cannot possibly dedicate 4 hours everyday to wholesaling and be somewhat successful to sustain my living until I can quit W2 employment?

@Christian Petrozza I received a letter in the mail of a guy trying to buy the house I reside in. Im giving him a call asap to pick his brain and see if I can be mentored by him and establish a business relatiionship till I get going on my own and understand the game! 

Should I connect with cash buyers prior and how do I go about doing that. Is virtually wholesaling more intensive than local market (I'm based in Atlanta, GA). Any knowledge I should particularly get familiar with I've been learning the vocabulary and language of wholesaling and investing in general. Looking to fund my first deal so I can embark on financial freedom just do not have the funds by any means. Been venturing in entrepreneurial endeavors now to fund a deal (SMMA) or creating a RE Photography Model of business. If I can get myself into a single family 5-6 bed in the Atlanta region with a good walk & bus score located near highly populated retail and commercial areas. To occupy travel nurses, consultants etc. Will be renting by the room and fulfilling my agency and wholesale deals while obtaining cash flow, equity in the property and having more time and financial freedom. I'm just my FIRST DEAL AWAY.

Hey @Brandon Galloway, thank you; as of right now I'm in the process of seeing if I'm eligible for the VA loan. If it turns out I don't qualify I'm not going to stress it. I'll just proceed with house hacking a duplex with FHA loan 3.5 with down payment assistance I know I will have little chance of cashflow having another lien but it will upmost cost less than renting also I'll have property under my belt building steady equity. I'd like to buy whatever property I decide to go with 5% under market price or value not sure which one I should look at. Having roommates is definitely the least of my worries considering the end goal and getting started in making my real estate portfolio. In the next year following I'll be in a better place financially with even more experience try to get a HELOC into my next investment property or hold for 2-3 years and cash out refinance and maybe get into flips short term to fund a BRRR or continue networking to find a private money lender.

Once again thank you for the insight.

thank you @Bob Stevens and I sure will @William Broxson definitely on the to-do list now.

 Thats the goal thank you!

Thank you @Eliott Elias for the motivating advice. I appreciate your encouragement to solve homeowners' day-to-day problems. I will use my time and hustle wisely to achieve success.

Gratefully,

 Hey @Henry Clark, thank you for the response, I have already joined the Air Force as a reservist and will head back out for training to choose a different career field within the air force within that job I will develop HVAC skills so that is great you mentioned that. I did discover in my research for REI that the VA loan is an excellent tool I can utilize. As a reservist in the Air Force you don't get VA benefits unless one of these three conditions are met. (1) You have allotted 6 years in the service as a reservist (2) you have been on active orders for 90+ days consecutively (3) {Correct me if mistaken} Accumulate 2 years of active duty time. those are my 3 options and I'm opting for the #2 option 90+ consecutive days of active duty time. I will get my orders within some months notice to a year and when that occurs I do plan to house hack and get my property in georgia and reside in that for a year. That has always been my original plan I've just been exploring other options oppurtunities and eagerly seeking knowledge on a daily basis. I'd like to get things done sooner than later and honestly thats my worst enemy right now but Ive got to be patient save and when the time comes to close on a home I can do that. In the meantime I'm developing skills trying to find way to max out money in my pockets and build my network. Thank you once again @Henry Clark

@Abbey Humphreys, I wanted to express my utmost appreciation for your valuable insights and guidance. Your words of encouragement regarding my early initiation into the realm of real estate investing resonate deeply with me. Your affirmation that I am on the right path and asking the right questions bolsters my confidence and fuels my enthusiasm to pursue this journey further.

I wholeheartedly agree with your perspective on acquiring a real estate license, understanding that its necessity may vary based on individual aspirations within the realm of real estate investment. I will take your advice to heart and prioritize saving diligently while simultaneously forging meaningful connections and assembling a team of trusted individuals who can provide invaluable guidance along the way. The recommendation to engage with the vibrant community on BiggerPockets and attend local meetups aligns perfectly with my quest for knowledge and networking opportunities.

Moreover, I am grateful for your affirmation of the BRRRR method as a powerful tool for optimizing both time and capital. Your wise counsel to proceed thoughtfully and strategically, taking the necessary time to build a portfolio with discernment, resonates deeply with my own desire for calculated growth and sustainable success.

I assure you that I will continue to immerse myself in the resources provided by BiggerPockets, actively seek out educational opportunities, and diligently work towards building the necessary capital to fuel my journey in real estate investing. Additionally, I am currently exploring the possibility of joining a Real Estate Investors Association (REIA) to further augment my knowledge and network.

Once again, I extend my heartfelt gratitude to you,