All Forum Posts by: Ryan Irwin

Hey @Gi'angelo Bautista!

I am in Deal Flow, which is a mentorship/mastermind group led by Cam Cathcart. 

I have been pleased with it and not just tons of excellent info and resources, but great interaction along with accountability with the focus on taking action. 

Feel free to send me a DM if you want to talk more?

Welcome @Tyler Sulzberger to BP and the forums from another fellow Iowa investor!! 

Sounds like you have some great experiences already, look forward to connecting and watching your portfolio grow!

Agree with you on the deals and math @Bob Stevens, certainly the information is out there.  

One thing that groups can provide (whether it's in person or online) is accountability, experience, systems, tools and resources.  Just like fitness (my day job) while all the information is available and out there, the key is having people take action and do the required work.  

At the end of the day, no system, forum, group, website or coach will do the work for someone, they have to make a choice and take individual responsibility to take action and make it happen.  The key is to find the structure and support needed to set someone up for success.   

Hey @Eric Brewer!

I'm actually in Deal Flow (started up a couple of weeks ago).  So far I've been impressed.  There are a ton of tools and training.  If your goal is flipping esp, this is what the program is centered around (but all the other exit strategies as well).  One of the other huge benefits is you get plugged into a community full of achievers who have the same goals and is a great sounding board for questions and advice.  

Feel free to send me a DM if you want to talk more about it, happy to help! 

Congrats @Leslie Beia on getting direction on the path to scale!  With so many great options in real estate, focusing is a formula for success.  

Love this question and it's actually the structure my business partner and I have.  He is the GC (and has a construction background).  Not only does he know that side of the business, he has done multiple flips prior.  He manages the contractors, project, SOW, etc.  I provide/manage the funding, books, oversee the budget and manage cash flow.

We do divide the the responsibility of finding deals and of course, we both have to agree on the numbers before we make a move.  

Our agreement is a 50/50 split on equity. In my eyes, it's fair as even though I'm fronting the capital, the split in equity is worth it as it gives me more time to run my other business, plus we can do things faster with two of us, plus at this point of my REI journey, I don't have the skills/experience (yet) that he does with the construction side and for him, he values not having to manage the finances.

Having a signed agreement for each property stating responsibilities and budget, along with the agreement if we go over the budget, we're both responsible for 50% of excess capitol injection. Legally, our LLC's are the partners and are both on title.

Hope this helps and congrats again on taking another step forward! 

Hey @Ethan McManigle way to start to get things in motion for a successful and lucrative real estate investing career!

One thing I would recommend is get to local investors and plugged into the community.  @Darson Grantham has regular meetups (I go to the monthly Tues one) and I would highly recommend that for you.  

Let's connect and hopefully get to meet you in person at the next meetup soon! 

Great question @Kevin Poulin!

For me, I bought my first property from my in-laws (it was a great deal and value).  However one thing I didn't anticipate was, while the aged sewer line could easily hand two people living in the property, when my tenants moved in and when the load on the sewer system went to five people, it couldn't keep up.

Turns out the line had been damaged over time (orangeburg pipe) and was too narrow, so I had to pay to get it replaced.  In hindsight, I should have purchased sewer insurance right out of the gate (if they offer that where you live) or at least, had the line camera scoped so I could see what it looked like.  

Otherwise it's been a great investment.  All the best to your success!!  
 

Great question @Jeffrey Albaum I have been wondering the same thing when managing my flip projects.  Following! 

@Uendy Garcia, to echo @Greg Kasmer's response, always look at COC on that initial deal. However, I think it is important to look at what you will do with that capital you generate. While a single deal might only be a 'base hit' versus a 'home run', it could set you up for something bigger and of course, each deal you do, you gain experience as well which will benefit you in so many ways.

So on the surface, this sounds like a solid deal, compare it to any other available options and if it makes the most sense, pull the trigger, kick it out and then keep growing into the next one.  

Quote from @Joshua Kirby:

Anyone out there looking to buy in Des Moines IA? I have off/on market opportunities ranging from duplexes to 16 units. If you're interested in learning more about these deals reach out to me!

Joshua Kirby (Investment Sales Specialist)

RE/MAX Precision

[email protected]

(515)402-7941

Hey @Joshua Kirby sent you a message, thanks!