All Forum Posts by: Ryan Weikle

Thank you everyone for your encouragement. A little update: I shifted to long term rental for the sake of not having to spend all my time cleaning after each guest. After looking over the numbers, I would only make about $50 more as a short term rental so it wasn't worth it. That being said, I am about to start advertising it for rent. Even better news, I just closed on my second property through creative financing. It was previously an updated church, but after material costs go down it will be converted into a triplex.

After years of studying real estate, reading books, listening to countless BP Podcasts and "running numbers" on everything I came across, I finally close on my first deal tomorrow! A quick background is that I am self employed as a property manager for my grandads rentals as well as manage books for him and my fathers construction company, Sons of Seibert Builders, inc. I recently got my real estate license as well so being self employed, I no longer have a W2 job that the banks like to see nor do I have 2 years worth of self employment records. Needless to say, it was difficult to find a lender. I finally got in touch with Barbara Phillips, a commercial lender at City National Bank in Lewisburg and she approved me right away for a commercial loan. I decided to start the property off as a short term rental and if that doesn't perform how I anticipate, then it will become a long term rental. On top of that, I am already looking at another deal and plan to make an offer on it this evening. Big Mo is in full effect!

@Andrea Lorena Almiron Hi Andrea, do you still have the deal in WV? I am from southern WV and am looking for houses to BRRRR. Even if you still don't have it, I'd love to hear back and connect for a possible future deal you may have!