All Forum Posts by: Ryan Deasy

Hello good afternoon to all hope all is well…..I guess I just need to vent so bare with me plz lol Sooo after countless YouTube videos, reading books and talking about real estate with anyone that would listen I started the process of getting a Heloc about 3 weeks ago and decided to invest in the Michigan area. Original amount I was seeking was $100K and due to many factors I could only get $45K, got in contact with lender and seems $80K is what I’d qualify for. So now I went from looking to a getting a small multi family to getting at best a single family home. Should just use this as a opportunity to get into a real estate market and get some experience or wait until I can get a larger property before making such a big move as this would be an out of state investment!

Good Day BP, A few years ago I was thinking I was ready to dive in to REI. I didn't have much $ so 2 turnkey houses were looking like that was the road to get started on. I am not an impulse anything. I realized these 2 turnkey properties would take most if not all of my funds and would generate about $400 / month cash flow with no hiccups. Even with my primary residence there is always a hiccup. I listen to my fair share of podcasts and stumbled upon one that was interviewing someone with a similar story to mine. Age, amount of cash, desire, etc. Except he was a step ahead of me. He stated that he took his funds and built a business that in turn bought his properties. On one side of the coin it took him a bit longer than he wanted but he was able to acquire more than he could have otherwise. I realize rei is for the most part a 'long game'. I took his story and applied it to my own situation. With a brother of mine, with the same goals, we started a logistics company moving freight all around the United States for the last few years. We have since liquidated company assets and have purchased 3 lots of land in an increasingly desired area just outside of a state park. We also are in the middle of a sfr rehab to increase the bottom line in the bank account. We are planning to sell off the 3 lots, which were bought at the right time, and with cash accumulated build a small community of sfr's in semi rural area. Renter source will be encroachment of population from surrounding cities, industrial park with new build of distribution center and well known manufacturing plant that is being relocated to that location. There are no available Homes for rent or sale in nearby areas. OK. I need advice on avenues to build 2 bedroom 2 bath Homes using our cash and renting as they are built. Somewhere on that road we will run out of $. Looking to market community for sale when completed as multi family investment property. Thanks in advance.