All Forum Posts by: Skyler Mckinney

So I have run out of houses to look at on the MLS/Trulia/Zillow etc. So I feel kind of stuck. I have listened to a lot of the podcasts and read a lot of books so I know about the other sources of getting leads but I have a VA loan to use to buy my first property so there are some pretty specific restrictions with that .I'm using the VA loan because I have no money for a downpayment so FHA and conventional loans aren't an option. I can't do a direct mail campaign because I have no cash and I can't do the auction thing because of the same problem, so I'm just kind of wondering what some of my other options are. I have checked craigslist and facebook marketplace. I don't have a network yet but I am working on building that so I am very open to any suggestions, please.

@Jeremy Elcox assuming I have the money. The area I am talking about is on the outskirts of town center. So these are already decent size houses and the jobs are already there mostly through the NAVY and the government. So the salary is there and the jobs are already there. Now so If I have the money and I do a direct mail campaign on two of the streets and I have 6 people out of the 20 houses willing to sell. So now I have 30% of the neighboorhood turned correct? So does this not force the appreciation of the neighborhood to go up. So now the taxes go up so rent goes up and the neighbors see that home values are going up and ready to sell their houses. I do my mail campaign again but with a higher buy price and I get another 6 and flip them. So now that's 6 houses and I can either sell them for almost 3x what I bought them for or now I decide what rent will be in this neighboorhood. At this point, I'm starting an HOA to keep up with appreciation. In theory should this not chase the crime out of the streets? Is there anything you would add to that or do differently is there any sure-fire way to keep crime out of an area?

Could I hypothetically take a whole rundown neighboorhood and turn it into a highly desirable place to live, I'm talking taking a neighbourhood that homes are in the low 100's (I'm in VA beach so its almost unheard of to find a home under 140,000) and bringing it up to a high middle-class neighboorhood where homes are selling at a low of 250. I'm very new to this but I've heard alot of forced appreciation but has anyone done this. If not I really love the idea of creating huge wealth by transforming a whole area. I'm thinking outside the box here because deals are kind of rare here. Can we get this discussion going because it infatuates me? Has anyone done this before if so can you tell details on how it worked, how much your profits were, what is the risk factor, and how long did it take. I'm not in a position to do this yet as I have not developed any sort of network yet but I WILL be able to one day and I simply love this idea it sounds like there is no way to lose. I would love to hear your tactics or how you would go about this if you had the means. @Brandon Turner @David Greene Would love to hear about this on a podcast as well 

 Congrats! Super happy for you and keep up the momentum Inspiration for the rest of us! 

Thanks for the info, I am defiantly going to attend the next TRIG meeting, I already signed up for it. Thanks for some actual numbers @Rhett Z Begley

@William Brown Id love to meet up, I will message you so we can figure something out! Thanks for the advice! 

Thank you guys I will keep the updates coming! 

@Khaled Helmi Thanks for the response. There are some parts of the city where land isn't that expensive but on the other hand, I see what you are saying. I was just reaching out to even get an estimate on how much it would be to build a property around that size with decent, materials or if anyone had done this before but thank you for the example I will keep that in mind 

Hello yall, I'm Skyler Mckinney and I'm relatively new to BP. I'm in Virginia Beach and looking to get into single-family home rentals and house flipping. If you're in the area and wanna grab some food or coffee and talk real estate feel free to contact me. If you have any advice you like to share I am an information sponge. I read rich dad poor dad and landed on real estate. I've done several other ventures outside of real estate none of them felt right there was no passion but I think this is where I will stay. I absolutely love houses, I love taking something old and outdated and bringing it back to life. I have lots of business experience so if you have any questions feel free. I am also searching for my first deal every day so keep looking out for it, I will post as soon as I find it. 

So I'm pretty new to BP and this is my first post. I've have been listening to podcasts every day, reading in the forums and trying to get myself prepared for my first deal. So a little background I'm in Virginia Beach and thinking that we need new development for lower-income families. All the new developments are starting in the low 300's-400's Majority of the city is military and retired military so there is this huge class gap. For a 1200 sq ft house in a decent neighborhood the price is upward of 250k. Most of the military and normal working-class family's can't afford that so they are stuck in not so nice neighborhoods and townhomes. So what I was thinking was a decent 15 -20 house development with 1200-1600 sq ft homes starting in the low 200's and capping out in the high 250's. I know there is a market for this and I know the homes would have no problem selling but my question would be is there a profit in this? How, would I go about even starting this project? Like I stated I have never done a deal, I was in the NAVY for 4 years and now a government contractor so not my area of expertise. But I want to help out the community I want more affordable and nicer housing for the military and lower working class family's.  Thanks for taking the time to read my first post. Please share any questions, comments, experience, or investor inquiries! 

Skyler McKinney