All Forum Posts by: Michael Minor

@Ryan Mattson Yes, I was in the military stationed at Beale AFB, CA and the property I bought was in Marysville. I used the VA loan which was a pretty large advantage. One thing I would highly recommend is using the FHA 203(K) loan. You can get into a property for around 5% down and you can finance renovations into the loan. The loan is based on ARV and can give you the tools to essentially BRRRR without the refi step. Do this, buy a duplex, triplex, or fourplex if you can and house hack. It is such a powerful way to get started in your first investment in my opinion.

Ryan you absolutely can. I bought my first house when I was 20. At the time I thought I was just being affordable when purchasing the home, but what I really did was do a "live in flip". I purchased the home in CA in 2011 and sold when I moved back to Kansas City in 2015. I purchased the home for 90k and sold it for 160k. While I lived there I replaced the flooring throughout the house, I painted the garage floor, had a sprinkler system, sod, and a concrete patio put into the backyard. I also painted every interior door, wall, ceiling, and piece of trim in the house. I did all the painting myself, but contracted everything else out. I spent around 10k in improvements over the four years I lived in the house. This is just one example. I am now about to list my house in Kansas City and use the house hacking strategy to buy fourplex in the area that I now want to live. The best thing you can do is learn how to evaluate a property and take action.

My partner and I are looking for a property in downtown KC. We are interested in a property that we can BRRRR. Our goal is a property that we can purchase for cash and BRRRR by the end of the month. My partner has completed around 100 deals using this strategy. This will be my first official investment deal. I technically did what I would consider a "live in flip" when I was living in California for my first home I purchased. The goal of this property would be to get into and rehab the property for the 25kish mark and be able to refi for around 50k. This might be tough and our goal is a bit of a challenge, but we are motivated and my partner has followed this strategy in the past. If you are a wholesaler, agent, or broker who has a deal please feel free to contact me. If you have deals that are close in numbers to what I posted, even if they are a little higher we can still pay cash, please feel free to contact me. I really appreciate any help we receive, also feel free to connect with me purely for networking purposes.

Hello BP, I am a newer investor although I have some exposure to the business and I am partnering with someone who has years of experience but has been out of the game since the crash. We are currently looking to expand our network, especially with reputable contractors in the area. If you guys could help us out in this we would be very appreciative. Our basic strategy is to BRRRR properties in downtown KC and surrounding areas. Initially we may start out slower doing one or two a month at most, but ultimately want to be in a position where we’re taking on multiple deals on at once. To do this we need a network of reliable contractors that can keep up with the demand we create for them. Any help provided would be very much appreciated. Thanks in advance and I wish the best for everyone. Thanks, Mike