All Forum Posts by: Rich Kniss

@Travis Wears, I enjoyed the crickets, by the way.

Opportunities are certainly feeling tight these days, at least for the properties we are looking for. Have you become familiar with realtor/brokers who specialize in MF? You might look at Loopnet to find brokers, not necessarily deals.  Craigslist can be another source for leads, if you look for mom and pop landlords renting units. Driving for dollars certainly applies to multi family as well. 

Hope that helps. Good luck.

HELOC is a good way to go. We funded our first deal that way. See if you can get an "interest only" for the first 10 years.

@Mitch Price, 64127 has been noted on the forums as one to avoid. I personally would not pursue that neighborhood as there are other ones that have less crime. 

There is no wrong path, but it sounds like flipping is the better approach, in my opinion. I also want to do new build construction, but I couldn't see it as the first way into REI. Time wise, a flip from start to close will be 4-6 months where a new build is more like 8-10 months. You will be able to pay your uncle back faster with a flip. Your dad's company can still help you with a flip, so you can take advantage of that.

Good luck!

If you own a home, you might consider getting a HELOC. Add that to what you saved and you can be off and running.

Look at REI Guard. They now go by NREIG. They insured a flip of ours, and it was a good experience.

 Go to Winvestors. They meet each Wednesday morning. There are others, but their monthly meetings are not when you'll be in town. Good luck!

@Nicholas Sambrick In addition to those mentioned, I'd add The Real Estate Rehab Investibing Bible by Paul Esajian, and Real Estate Wholesaling Bible by Than Merrill (even if you aren't planning to wholesale).

Also, @brandonturner published  "The Best Real Estate Books for Your Investing Business " on BP which might be helpful.

I find audio books work best for me on the way to and from work. Also, listen to every BP podcast. Lots of information in those.  Just consume as much as you can.

@Robert Penniston Check out MAREI events in OP the second Tuesday of each month. Also, Winvestors meets every Wednesday morning in Mission. 

Reach out if I can be of any help.

@Kyle Talbot, I recommend Taylor Reese with Reece Nichols for realtor. He has a good background in construction and helped us sell our recent flip (fast and over asking).