All Forum Posts by: Mike Rutherford

I’m looking at rolling over my 401K into either a Solo 401K or SDI.  I’ve researched the pros and cons of each.  My lean is Solo 401K because I have a small business.  I also plan to buy real estate with it using leverage.  Anyone recommend a good provider of either?  

@TheresaHarris I bought my first two within a few months of each other as well.  They were in good shape and already rented.  So I was able to have a cushion built up to float the first vacant month. My property manager did a good job getting it rented and the deposit paid to get the carpets cleaned.

All of my cash flow goes back into my "operating" account. I'm not using any of it personally, that way I'm not worried about vacancies and minor repairs. I'm buying relatively newer (or recently renovated with roof and HVAC) so I'm hoping to mitigate against anything major. Except for my potential BRRRR project. I'm expecting at least one month vacancy per property, although I just renewed one of them without any turnover.

I certainly won’t get into a deal just to ink one.  I have a set of financial criteria and cash flow they must meet.  I’m certain others, more seasoned and savvy than me at this point, can find those deals I’m seeking!

I'm relatively new to RE investing. I purchased 2 SFH's last year and they are doing relatively well. I initially thought it would strictly be passive, but I've got the bug! And like anything else in my life, I go ALL in. I've done countless hours of reading, researching, etc. and now I'm ready to pull the trigger. My initial goal is 10 by the end of the year. I'm looking to stay cash flowing each property north of $300 while keeping the price south of $80k. Difficult but not impossible given my other two's experience. Obviously there just isn't an abundance of these deals out there. I'm looking at a potential BRRRR deal and considering a direct mail campaign. What's everyone's thoughts and potential other strategic ideas to help me reach my goal? I appreciate the conversation!

I’ve set a pretty high goal of growing my portfolio in 2019.  I’m have 2 and likely to be under contract this week for my third.  I want to be at 10 by year end.  My 2 and potential 3rd are in the $60k-$70k range and cash flow roughly $300 each, after management fees.  I want to keep that cash flow and price range but there isn’t a lot of the market at that price that will produce that cash flow.

I'm looking at one BRRRR potential deal to help with my goal but also looking to try off market buying. I'm thinking of a basic direct mail campaign. My target would be same price range and cash flow. Any ideas to help me out?

Any feedback is much appreciated!

Thanks Nicholas.  My inspector (who is seasoned in flipping) has agreed to walk me through it.  Of course, for a small price.  He said he’s been within budget on his past 4-5 deals.  I don’t mind paying an extra $50 or so for an experienced opinion.  He’s also willing to share his list of subs which should save on GC costs.

I'm new to the real estate investing world and to BP.  I purchased two buy and hold single family last year.  They are going well as I roughly got a cash on cash return of 15%.  I have a property manager and slightly increased both rents this year.  No complaints yet.  I'm recently energized after stumbling upon BP's podcast and in a place financially to scoop up a few properties quickly.

Having said that, I'm looking at my first BRRRR project. I plan to purchase it all cash with my HELOC and fund the rehab with the same HELOC funds. Rinse and repeat, right?! I'll simultaneously have my property manager lining up a tenant. I think I found something I can get in under the 70% ARV less reno costs after speaking with my contractor. But being my first rehab project, what things do I need to look for in terms of exhaustive rehab costs? I don't want to miss something big and blow the deal. Do I get an inspection to start? Everything thus far has been visual from online and drive by-s.

I can stick with a regular buy and hold (which I still plan to do as I grow my portfolio) but love the idea of infinity returns being able to pull my initial 'down payment' out.

Thoughts?

Thanks - Mike