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All Forum Posts by: Skyler Mckinney

Skyler Mckinney has started 25 posts and replied 90 times.

Post: brrrr refi help please

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

Thank you, @Mindy Jensen for the link it was very helpful. I did, however, find a lender that was willing to work with me If you would like the contact info feel free to PM me. Thank you, everyone else for all of the suggestions and help I sincerely appreciate it!  And @Kevin Romines your suggestion worked for me I called a couple title companies and they gave me a couple names, Thank you so much for your long detailed post. 

Post: My challenge to every Bigger Pockets member!

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

This is not an endorsement in not writing a book I'm not selling anything and I'm not looking for anything out of this post I just want to help.

Post: My challenge to every Bigger Pockets member!

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

If you opened this read this post in its entirety it will be worth it for you and post a reply there is no reason not to. Every single member on this site has no excuse for not being one of the wealthiest people in the world. If you are not Jeff Bezos you have no reason to not be in his position. Here is my challenge to you, take the safe goals that make you feel comfortable and throw them in the garbage never look at them again. Set new goals that make you feel uncomfortable goals that the average person will look at you and think you are delusional. But don't just set them then build a decent outline to reach these goals. If you get stuck on a step look at the step that comes next and figure out how to bridge that gap. It is 2018 you can find anything on the internet.  You should never be comfortable in the position you are in. @Brandon Turner why do you not have 1000 doors you have the connections and you have the knowledge there is no reason for it. Everysingle person reading this needs to push themselves one step farther. I'm not saying this stuff to sound arrogant or rude but the members of bigger pockets have helped me out so much and have been there every time I had a question and this is the only way I have to return the favor right now. I want you to post your old goals and then post your new goals. There are so many people on this site that maybe by just posting them on here someone will see them and help you out with your outline. But Skyler you don't have any investments and you're not wealthy. You are correct but I have a step by step plan that I am actively following every day. Every day I get up to do my miracle morning and see the vision, I look over my goals and then act throughout the day. I am making connections, I am going to meetups, I am putting in offers on homes, and I am continually on here and reading books to further my education. If you are better off then me right now and own more investments than just know I will more than likely be ahead of you in the next 5-6 years and then maybe you'll wish you would have done what I said. If this works for Grant Cardone and every other wealthy entrepreneur then It will work for you. Let go of your fears and envision a life that makes you uncomfortable cars, houses, traveling, stability for your kids, your family, the ability to give even more back to those who need it and your community. I don't agree that there are any woman/man/gender fluid persons in this world that don't deserve more then what they have. Get out there do 20x the amount you are doing right now set bigger goals and don't look back. Be selfish with them that's okay as long as your giving back along the way.  I hope my post has inspired at least one person because you guys are the best online community on the internet. 

My goals 

Be a trillionaire (not the first Jeff has that spot on lock)

Develop and help as many impoverished villages overseas as I can 

Help end the homeless problem in America 

Build a whole city 

The ability to travel to anywhere at anytime

Give my children everything they deserve 

Have the amount of money to help anyone in need

These goals might sound ridiculous and stupid to you but I know I will achieve them and then they won't sound so dumb anymore. 

I have a plan and it is very simple all I need is the money and then I will freely be able to accomplish the goals with ease. It seems small to me because I am only focusing on one step at a time. I'll share my plan as well. 

Step one: Acquire a single family home for 80% of its value then brrrr that property. 

step two: Repeat until the funds are available for a multi-unit then brrrr it.

step three: By this point, I should have a network, I have deals under my belt, and the knowledge to invest into apparments. Buy an apartment building. 

step four: Repeat

step five: Now here's where things switch up, I will have a good amount of Net worth and liquid assets. Now I'm going to take some of that money and start buying franchises because I don't want all of my money tied up in one basket. I prefer fast food/ coffee

step six: Exponentially grow both my real estate and franchise business so at this point I should have around 1000+ doors and around 100/200 franchises 

Yes, this is a 10-15 year plan and it goes up to ten steps but you get the idea. But look at how simple that is, yes there is at least 10 steps per big step but if you just break everything down into small steps and do one a day you will be there in no time. If you read this whole thing thank you so much I hope this gets to you and you realize your true potential. POST YOUR GOALS!

Post: Pictures and Numbers from my most recent Brrrrr

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

It really looks great! thanks for the inspiration these are my favorite posts on BP I love seeing actual deals that people are doing and how they are doing the rehabs! 

Post: My 1000th post on BP

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

Congrats! I will be there one day as well thanks for all your contributions!

Post: creating newbie mastermind group

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

@Carl Hammill That sounds like a great idea. Not ready to expand to land flipping yet but I like your idea. Good luck!

Post: brrrr refi help please

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

@Eduardo Rodriguez My only problem with that is the expiration on the hard money loan. The lender I was talking to do one-year loans only and that's cutting it pretty close to that timeline. But thank you for the suggestion 

Post: brrrr refi help please

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

Thank you guys for all of the replies and help I'm not going to let this hinder me I was more so wondering what other people have done in this situation or have encountered it before. @Jaron Walling  I can't get rid of either of the cars ones a lease that my wife drives that will be up in a couple months and in a bad decision-making frenzies just purchased mine but there's a lot of negative equity in so it would be a pretty big loss. @Kevin Romines Thank you so much for the detailed response you helped me understand what the banks are looking at and how they are determining rental income. If you don't mind me asking how do I go about finding a loan broker who is investor friendly? I'm going to defiantly try and get in contact with one so I can everything pre-arranged before I jump into a deal 

Post: brrrr refi help please

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

So I am looking for a house to brrrr and I decided to be responsible for once instead of just jumping into something and made sure that I would be able to refinance out of a deal before I jumped into some hard money I wouldn't be able to escape from. I called the two banks I have relationships with and they both told me that they take debt to income into consideration when doing the refinance. I own a primary residence and a couple cars that put my DTI at over 50% and would not be able to refinance. I have done some research and I'm just wondering if there's something I'm missing here. How am I supposed to refinance if I don't qualify for it? Is there a specific loan type I should be using or a specific bank I should be using. Please help as I was planning on starting my real estate investing career with a BRRRR so I would have money to fund my next deal. I'm not opposed to just flipping but it's not a good idea without an exit strategy.

Post: Kind of stuck, suggestions please.

Skyler MckinneyPosted
  • Flipper/Rehabber
  • Virginia Beach, VA
  • Posts 95
  • Votes 65

@Derek BaileyI know I might not have been very clear but some details I was only pre-approved at 180k avg cost of a home in Va beach 200+ Me and my wife separated so I already have a VA loan on the other house where she will be staying which is 216k. VA loans can only be used for primary residence but I'm looking for something outdated that is livable that I will do a live in flip and then BRRRR out of so I will have money to actually make a down payment on the next property. As stated above I don't have any network in the real estate industry at all I'm going to a meetup tonight to hopefully change that but for now, I don't have anyone I can use to finance a deal or partner with since I will be living there for a 6mo to a year. I'm not arguing with you or shutting down any of your suggestions they are great and I really appreciate them. I am trying to build my network I am actively looking for private money/ partner but its kind of hard with no track record I was just wondering if there was anywhere else to look for leads without any cash or private or hard money