Here's a good example of a BRRRR (Buy, Rehab, Rent, Refinance, Repeat) deal we did recently that I went over in depth for MAREI, the local real estate association in Kansas City. I wrote a piece for their website and gave a short talk on it:
The article (and video) go over how the deal went, but more specifically, how to work with a wholesaler. As I note in the article,
In order to get the first crack, the wholesaler needs to know you and trust that you can close. (Many wholesalers have heard people talk big only to be unable to put the money together at the end.) Proving yourself to a quality wholesaler can go a long way, which was the case for us on this deal
Most wholesale deals suck, but some are good. And you need to jump on those quickly if you're going to have a shot at them.
Check it out!
Comments
As I've mentioned before, the deaths versus economy dichotomy is absurd. One early study found the lockdown may lead to 75,000 excess "deaths of despair." A new report from the CDC indicates that may be a low estimate, Some 40.9% of respondents reported at least one adverse mental or behavioral health condition overall: 31% said they had experienced symptoms of anxiety or depression in the 30 days before taking the survey, while 26% reported trauma or stress related symptoms. Perhaps this is one of the reasons are cities are on fire right now. 25.5 percent of young people seriously considered suicide in the last 30 days... unreal.
It's probably a good idea to check in on your loved ones a bit more often these days. Rehab Estimate Template: Scope of Work Template: Pro Forma Template: ...By the skin of our teeth.
But hey, #4950 is still in the Inc. 5000 list for 2020, so we'll take it. This is the third straight year Stewardship Investments made the list (#2940 in 2018 and #3349 in 2019). Yes, the previous years were better, but we've been in a slow growth phase for the previous couple of years, so I'm optimistic we can begin to climb back up that list in the years to come. Stay tuned and well done team!
It does kind of feel like a movie, doesn't it? A horror movie to be exact...
Due diligence is always critical to success in real estate. It's even more important (albeit more difficult) when there's a pandemic still lingering about. On this episode of The Good Stewards Podcast - we discuss, take a long look at the essential art of due diligence.
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Andrew Syrios"Every day is a new life to the wise man." Archives
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