I’m excited to introduce a new project that I have been working on called “The Real Estate Investor Web Series.” It is an internet based reality show that follows my business partner, Shauwn Digman, and I as we acquire rental real estate. Shauwn and I have been working hard over the last six months to set up a company to acquire single-family investment property in San Antonio.
Since we launched the business at the beginning of the year, things have really been taking off! We got 7 contracts on houses in March, 3 of which we closed. Out of those 3, we kept 2 as rental properties and sold the contract of the 3rd to another investor.
The first episode of the web series follows us on Saint Patrick’s Day, the day we closed on the 1st house in our partnership: Glendora. This deal adds about $20k to our balance sheet, $300 a month in cashflow, and required no money out of our pocket.
Let me know what you think and what you would like to see in future episodes!
{ 11 comments… read them below or add one }
Thanks for this series, Brian! I was surprised by the production quality and this is definitely something I’m interested in learning about. It’s great to see how it’s actually done =D
Hey thanks! We put a lot of hard work into it and want to deliver a lot more for you!
Yeah, we’re spreadsheet junkies… That’s a decent idea for an upcoming article. Thanks for the great feedback!
I am really enjoying the videos and articles Brian. Keep up the good work. I love it when you give the details on the deals. Are there any worksheets you use to track the deals and cash flow?
I would like to see more details of the deals and less of the personality stuff. I am watching because I want to learn how to do it. I am more interested in how you found the properties, what is your evaluation criteria for choosing a house, how do you decide your offering price, how did you find your rehab guy, what made you decide to just flip the contract on the one house, etc. To me if you are going to watch a show like this it is not for entertainment, but because you want to learn how to do it yourself.
Just my opinion.
35% is way too much to put down on a piece of investment property. We use hard money lenders who understand investing. They will typically lend up to 70% of the after repair value, meaning if you can buy and fix up for less than 70%, you can bring very little to the table.
Hi Brian,
My business partner and I are close to purchasing an investment property in the Phoenix area. Our only stumbling block is the down payment. Most banks require 35% down for an investment mortage. Is there any way around that? We don’t mind paying an out of pocket down payment, but 35% seems high. Do you have any financing tips in regards to this?
Thanks!
This video was interesting, however it strikes me that you guys are very disorganized. How can Brian accept to invest in a property he hasn’t even seen?
In addition to that, it is great that you rehabed the property, and put in money in it in order to make it look good, but did you actually rent it? Or is the $300 a month in cashflow simply an estimate? It is great to have rental units and even add to it, but if you do not actually rent them out, you will owe money to the creditors and you will be generating negative monthly cash flow ( that would still be passive however)
Anyways, please keep the video series going. But I woudl be much interested in learning about actual results from renting those units out!
Best Regards,
Blogging Banks
Thanks for the feedback.
There wasn’t really any need for me to look at the property since we knew exactly what it was worth in good condition and had repair bids to know what it would take to make it that way. We’ve done enough of these deals to know a good one when we see it on paper.
The phone rang of the hook from potential tenants during the rehab. Renting properties in solid, bread and butter neighborhoods is no big deal.
Yes, hard money lending is the way to go
Thanks for mentioning that Brian.
Wow, what a great and detailed info, very helpful, thanks!.