All Forum Posts by: Scott Johnson

Quote from @Scott Johnson:

Quote from @Craig Cecin:

Hi everyone,

I am new to REI and have been doing as much studying and research as I can before diving in. I am looking to invest out of state because I am in the military and move around making any market eventually long distance, also live in southern CA which is expensive. I am looking at markets like San Antonio or Columbus at the moment.

My questions are, should I look to really nail down my core 4 team members and go for a BRRRR deal utilizing hard money for the purchase or should I look for something more or less rent ready (and less risky) and use my own money and a conventional loan right off the bat? As a new investor a BRRRR seems like a significant undertaking but also a terrific way to get my money back and reinvest it in a more efficient manner than saving up again for a 20% down payment for a more traditional buy.

Thanks in advanced!

 You're asking the right questions, but you're a bit ahead of the game with them. Glad to hear you're putting together your team, though!

What I'd ask myself first is, which market should I invest in and why? Then you identify the property you want to invest in, and finally figure out the strategy. 

A lot of people attempt to use the strategy as their guide when in fact it's the market, property & circumstance that guide you to which strategy is best. 

That said, what markets have you identified and what indicators are enticing you to invest there?

Thanks for the reply Scott! So I think I've narrowed down the markets to between San Antonio and Columbus. Both seem to have good indicators of population/job growth and rental indicators. My goals are to buy SFH or small multifamily and hold long term. One benefit of San Antonio over Columbus is that I know someone already in that area who could keep and eye on my rehab/properties. I understand BRRRR is inherently more risky but it seems like the best and quickest way to keep my money moving and aquire more properties. Any tips for finding and interviewing team members? 

@Scott Johnson The seller was a distant cousin to the person that died. She believes the deceased did not have any living relatives and did not leave a will. The attorneys won't be helpful in this scenario because this is about family members not filing wills that went through probate. 

I am hoping a lawyer from Pennsylvania will come along with a solution.

So I make $65,000-$70,000 a year. I owe $80,000 on my home which is now worth $460,000. My question is should I sell my home & by 2 with 1 small mortgage or use equity & buy one. I can get around $2,000 in rent on my primary home now. My mortgage would be high due to rates. I’m very nervous about renters either not paying or trashing the place & not really leaving me enough financial leverage to pay. i think i know what I’m going to do probably sell my house. BUT IM CURIOUS OF WHAT OTHERS WOULD DO. Every opinion is welcome.

So I’m jumping into real estate investing. 

Have access to about $300,000 (not planning on using it all at once.)

There are so many different strategies, LTR, STR, MTR, BRRRR, tax lien foreclosure etc.

Is there a book or course I can buy that goes over all the different strategies?

Maybe a personality assessment test I can take that will match me up with the right strategy for me personally?


I know this about myself, I love learning, building systems, and the joy of completing the project…

But then I want to be on to the next thing. 

Quick communications is my love language, but I know I don’t want to personally be taking calls from angry tenants to deal with issues. (I know that’s where a good PM comes in.)

I’ve read half the Rich Dad series and took their course.

But still feel like the only strategy recommendation for a newbie is 2-4 Plex’s, which every other investor seems to be doing as well. 

Like the idea of BRRRR and MTR, but know little to nothing. I also have no rehab knowledge personally.

Any specific guidance on books, courses, masterminds, mentors etc for strategies and implementation?

I’d rather follow a proven system. 

Recently Completed real estate course, getting ready to take my tests. Driving trucks right now, drive away work. Ready to get out of it and do real estate. I travel a lot and see a lot if distressed properties tbat coukd easily be flipped for mega profit, all over the lower 48! Looking for investors to help me make some dreams co.e true; mine, tbeirs and new homeowner hopefuls. 

Hi everyone,

I am new to REI and have been doing as much studying and research as I can before diving in. I am looking to invest out of state because I am in the military and move around making any market eventually long distance, also live in southern CA which is expensive. I am looking at markets like San Antonio or Columbus at the moment.

My questions are, should I look to really nail down my core 4 team members and go for a BRRRR deal utilizing hard money for the purchase or should I look for something more or less rent ready (and less risky) and use my own money and a conventional loan right off the bat? As a new investor a BRRRR seems like a significant undertaking but also a terrific way to get my money back and reinvest it in a more efficient manner than saving up again for a 20% down payment for a more traditional buy.

Thanks in advanced!

I would like to request your assistance for suggestion on which bank offers 1st lien heloc account.    Thank you in advance

I recently bought a multi-family property in Chicago. I am looking to have the basement be made into a legal third unit. I would like to have the basement redone to have a separate heating system from the 1st floor unit, re-do the basement kitchen, install a washer and dryer and install a separate electric system. I would also like to explore sub-metering for water in the property as well. The property is in Belmont Cragin in Chicago and I'm looking for a reputable contractor to help me with the conversion. 

Turn key 3/1 SFH

Asking price: $172,000

My offer: $150,000

Monthly Rent: $1,400 or $1,500

Property Tax: $2,500/yr

Insurance: $1,000/yr

Maintenance/Repairs/Capex: $2,000/yr

Do you like this offer? Would you go any higher? Thanks

Quote from @Scott Johnson:

Quote from @Johnathan Cummings:

I have a subject to deal that I can pursue, but my broker tells me that subject to is mortgage fraud. Basically if the current owners die, go into bankruptcy, or something else, I would lose the property and it’s not worth the risk. Curious what the BP community thinks.

 1) Your broker doesn't understand Sub-To deals (most of them don't)

2) Read the PA state laws from your General Assembly regarding Sub-To deals. The secretary of the Legislature can help you find them or just search them on their web site

3) Those are real challenges with Sub-To so educate yourself on them before pursuing a Sub-To deal

4) Your state law will outline whether it's considered 'fraud' or not. In NC it's not fraud, it's just 'not considered good business' and 'sus' by our legislature. Totally allowed, we just have to put a disclaimer on our contracts that they approved. 

 Thank you for the response, I’ll definitely take a look. I appreciate it!