All Forum Posts by: Wayne Burrows

What's up BP!

I am looking for recommendations on building a remote team in and around Milwaukee.

Investor friendly local banks; PMs; Title companies; GCs (licensed); Inspectors... The WHOLE kit and caboodle.

If you're able to help me out to fast track this, by all means, toss me some stuff. THANX!!

What's Up my BiggerPockets People! I'm looking for Any & ALL advice.

My desire is to house hack a 4-unit. My (possible) problem is that I haven't worked  a W2 in close to 4 years. Along with that, my primary and only source of income is derived from driving Uber. Been doing that since Dec of 2018. I regularly make upwards of 1500/week, BUT, I stopped driving last year in March when COVID took over the world and I just recently started driving again earlier this year in June. So there's a significant gap in my income earnings. I am currently rebuilding my reserves but don't have much at this time. My credit score is solid though.

Is there anything that I am able to do >presently< to work my way into a 4 flat, house hacking situation or do I need to get some things done first before that is possible?

Thanx BP!!

Wayne B.

Thanks for the advice Salvatore. I am actually in the process of putting together a short list of investor friendly lending institutions that I believe might work with me. And I'm not fortunate enough to know anyone that could fill the position of being a 'money partner'. I attend local webinars almost daily. Maybe something will develop out of those sometime in the near future.

@Salvatore Lentini The nonexistence of My Own Capital! That is what's stopping me. I see great deals online almost every single day and I have a good credit score but I'm currently not bringing in a paycheck. So getting a loan from anywhere in order to purchase a property to rehab and flip seems to be totally out of the question. And looking to JV with someone when you don't know anyone in the world of REI is pretty much next to impossible. That's been my experience thus far.

Originally posted by @Mark Ainley:

@Wayne Burrows Welcome!  Why not find a wholesaler group, many good ones here in Chicago

 
Wholesaler Group??!!! I'm definitely glad that I posted this question because I didn't even know that THAT was a thing. Lol. I will definitely look into that after Brandon is thru with the webinar. Big Thanx Mark!!

I haven't done anything in the world of REI yet. I have been living, eating and sleeping real estate for over a month now. I now officially have a Man Crush on Brandon & David. Lol. I'm currently in the process of learning exactly how the numbers work so that I will be able to analyze a good deal when one slaps me in the face and then transform that into a great deal by the time negotiating is over with. My thing is I'm in Chicago, so if I choose to start off by wholesaling, Mostly all, if Not all of my deals are going to have to be virtual - which then means, (I think), that I would have to have boots on the ground wherever the property is, for someone to lay eyes on it. Does that make sense or that isn't necessarily the case?

My pipe dream is this - Mastering the numbers to find and negotiate Great deals in order to find a private and/or hard money lender that would be willing to finance it. Which is why I need to be a master numbers cruncher so that I could get a BRRRR or Flip funded while having zero experience under my belt. Obviously, I Have To make it worth their while. So... Pipe Dream OR Possible?? What say you all? THANX!!