All Forum Posts by: Robert Fielding

Thank you, Tchaka. Quick question about BRRRR: If you have challenges getting conventional financing, is BRRRR even a viable option until you get to two or three properties with positive cash flow for 12 or 24 months?

Thanks for the advise, Matt. My son is 3 and I hope to work on investment projects with him as well. He seems to gravitate to tools already, so who knows, maybe he will be the contractor arm of our future business. Best of luck!!!

 Thanks, Josh. I do wish my primary business was easily "wrangled in". I send Americans to Cuba on legal trips that support Cuba's entrepreneurial sector. I deal with two governments who impose laws that substantially change my business, without my say or control. When it is good, it is very good and when it's bad, well it is like a desert for revenue. 

My goal with real estate is to diversify and it must happen to attain financial freedom. 

I am considering looking into other markets to find opportunities but a little leary without a good partner in the area overseeing the flips. Regrettably, I don't trust anyone until they've proven themselves. 

$50K sounds like a great place to start, right? Well, my challenge is ever the same. I own my business and our revenue swings pretty insanely from year to year making conventional financing impossible. I was even denied a home equity loan recently with more cash on hand than the loan amount because of the lack of consistent income. So, my $50k and a high credit score are my only assets. 

I've sent yellow letters and will continue to market seeking out seller financing opportunities. This is easily my best way forward. I am in the Tampa area, which is a top-ten market for flips, but also highly competitive. That makes it hard to find a seller who doesn't want to cash out when they know there's another investor right around the corner.

I am a good negotiator and can handle myself very well in meetings and presentations. I've considered going straight into commercial real estate because of this strength and my corporate background. 

I am 100% committed but I am feeling discouraged about my decision to focus on flips. Please let me know your thoughts on the below questions:

1. How would you put your $50K to work within the next 30 days?

2. Knowing that I want to get to a point, eventually, of $10K a month in passive income, would you bother trying to build capital in flips or dive straight into rentals knowing that would likely require partners?

3. If you started with residential properties and had it to do all over again, would you have started with larger unit counts and commercial lending?

Thanks for any input from the BP network. I truly appreciate everyone's thoughts and feedback.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

I have found a good flip opportunity in my market that has a great spread until I factor in hard money loan costs. I don't see a way to add those costs directly into the report without fudging the closing cost numbers. Anyone see something I missing? I need to factor in 32k of loan costs.

Hi Ladies and Gentlemen:

I am looking for referrals for general contractors in my area. If anyone has good referrals they think may be interested in rehab projects, please let me know.

And thank you, very much!

Rob

Thanks, Wayne. I don't mind paying them for their time, but I cannot even get a meeting with a good contractor because they are over the moon busy. Perhaps real estate investing isn't the right avenue and I should pursue starting a contracting business instead. Is anyone interested? ;).

Hey Gals and Guys -

I’m hitting a bit of a brick wall when it comes to finding a reliable contractor to walk potential flips with me. My hope was to work with one or two contractors in my area, but I simply cannot find one who is a) reliable and b) able to make time for me.

I want to know how a pragmatic, numbers-driven investor can gain expertise, or find experts, to turn around my property evaluations and offers in days, not weeks.

Has anyone gone as far as adding the contractor a bit of backend compensation once the flip sells to pique their interest and get them actively involved?

Thank you, for any ideas/contacts you be able to share.