Hello everyone,
I made a goal for 2019 that had me completing my first BRRRR on a property and after closing on my latest deal in Milwaukee, I'd like to make it a reality. I feel like I've been studying BRRRR for years but I will never know how it goes until I actually get my feet wet and that's the reason for this post. I am looking to partner with an experienced BRRRR investor in the multifamily department. As many units as we can afford will be my ceiling. But the keyword is definitely someone with a good amount of experience. I don't want to use the word mentor, but essentially it would be because I will be working hard to learn the whole process while simultaneously hopefully giving some value as well. So a little about me:
My name is Tim Casallas from Queens, NY. I am 30 years old and bought my first property back in 2014 in NY. Since then I have purchased 4 more properties in NC, FL, NM and WI. I recently sold the condo in FL so it is no longer in my portfolio. I've only done SFH and for the most part they never needed much work so I never was able to really realize the full potential that a BRRRR can provide. My biggest hindrance is my demanding day job. I am an active duty Marine stationed in Yuma Arizona and my end of contract date is June 2020.
My short term goals:
When I set out on this journey my biggest goal was to match my salary passively which is about 2k a month by the time my contract was up. I am currently at $600 so I've got a bit to go. I need to scale my portfolio. I've been hovering around the SFH market for too long and I need to start getting into multi families. I would like to start getting into bigger apartment buildings by 2020. Mainly, I don't want to sit tight because I don't want to be one of the many military folks that struggle upon departure from the service. I need to hit the ground running.
My strengths:
I have a little bit of experience in investing and I am always studying.
I have about 25k in cash just sitting ready to get used and can get creative in ways to pull out more via HELOC or Hard money if need be.
I am always hustling, hungry and ready to learn. I can do the research or make phone calls or whatever needs to be done.
My weaknesses:
My work schedule can be demanding and unpredictable. It can be a hindrance if I am sent out to the field with no cell service at times.
My BRRRR and multifamily experience is limited since I have never done it before, but I have been studying and will learn quickly.
I am located in Yuma, Arizona and don't have a lot of freedom to move at will.
Closing notes:
My main thing is that I am looking to work with someone with the experience that I can learn from. I am willing to do any market in which you are seeing success, even though I may not be able to go to the location myself. I do have experience in doing long distance deals. I wish I could go to the REI meetings in Phoenix and San Diego but they all host on Tuesdays and I am not able to make that 6 hour round trip on a weekday so that is why I am limited to the forums, but I've heard so many success stories and I am ready to be the next one. I look forward to hearing from everyone ! Thank you for reading.
