Joining Bigger Pockets hoping to accelerate my learning process and meet like minded individuals.

Most reverse exchanges are done with cash from the client or a private loan of some sort from an individual or a portfolio bank.When your old property sells you will have that cash in your account to purchase the new property. 

The process is rather straightforward.

I know it's a marathon, not a sprint, and I am in this for the long run, but I'm also eager to jumpstart the process!

In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

Scaling up is a big leap, but breaking it down into small, actionable steps—like building a deal pipeline or starting conversations with potential investors—can help keep the process manageable.I’m based in the PNW (Seattle), so if there’s anything I can do to help or if you’d like to collaborate on deals in Washington, feel free to reach out.

What blew my mind through this process is how people calculate returns.

Check out padpslit.com, I use the platform to rent out 8 bedrooms in my house individually

I invest out of state in Pittsburgh from DC and self-manage everything, but it's taken me years to establish the right contacts, develop seamless processes etc. that allow me to handle everything remotely with confidence.

Many lessons have been learned firstly is you can’t be too nice or trusting and second is, don’t wait to figure out the refinance and cash out process and until you are almost done with rehabbing the property because currently going through a very lengthy, cash out refinance ordeal at the moment as I’m trying to get financing terms finalized as we speak.