Live Coaching Call w/ Non-Accredited Investor (Engineer)

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  • I’m currently in the middle of setting up my overfunded whole life policy with the guys over at Wealth Formula Banking that you connected me with.
  • Properties:
    • First purchase in August 2018 (duplex in PA)
    • Currently in closing on another SFH that I’m 100% financing… currently waiting on a tenant situation to get them out before locking it in… see my underwriting here:
    • The cash flow is low on this one, but you can see the comps here are quite higher than what I’ve conservatively set (and what my financing is based on), so I expect to get even more equity right out of the gate on this one should we resolve the tenant situation. I’ll also be completely funding it through financing, which provides an effective infinite return there on this after refinancing it.
    • My other property can be seen here (it cash flows around 1k per month, and when I finish financing it at the end of this month, it’ll still cash flow around 500/month):
    • Going forward, will be focusing only on properties that I can recoup most of my investment during the refi
  • Currently starting up some branding around my RE ventures (Engineered Cash Flow):

I am a little different than most of your clients/followers in that although I do have a high income day job, I do enjoy the entrepreneurial side of the RE business and am looking to be a bit more active in the business side of my venture (honestly very similar to what you have created).  I am looking to grow an investor list and scale this year. In addition to my income, I also have very good credit which has made it fairly easy to get lending and to get creative with leverage.

Currently have a solid team in Philadelphia that allows me to purchase discounted properties, rehab them, rent them out, and finance out my investment while still able to cash flow.  They effectively wholesale me the deal, which I am the purchaser and funder. They then use their contractor team to do the rehab, and I use their property management group to manage the properties (could use other groups, but after doing due diligence and interviewing a couple of companies, went with them anyway).

I do realize there is a lot of eggs in the basket there, but this allows me to get into value add properties that allow me to get out a majority of my investment back out in order to scale faster. I also realize that they take nice margins for their selves during the wholesale and construction (which they guarantee and have a fixed construction cost so low risk for me there), but I’m willing to pay a little extra to do better than your normal turn key and be able to take advantage of a cash out refinance right after the construction. My plan is to do a few more with them, but I’ve also been building up my own team (i.e. wholesalers, contractors, bird dogs) out there in the area so that I can cut out a middle man factor and recoup another 10-15% equity per deal.

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