Audio player

Comments

Using Hard Money & BRRRR to Go From 2 to 80 Units with Kyle Mack

Real Estate Rookie

Education

Kyle Mack was only a senior in college when he bought his first duplex, house hacked it, and caught the real estate bug. Since graduating he’s held a handful of jobs, from retail, to becoming a leasing agent, and even a commercial real estate broker. But that wasn’t what Kyle’s degree was in, he was actually planning on becoming a doctor.Kyle talks through how he gained the confidence to take on an 18 unit apartment building, not too long after closing on his first property. He also talks about the importance of financing, and how it can help you scale.Using financing like hard money, credit cards, and cash to close on properties, Kyle has had to think on his feet to get deals done. He walks us through the best way to approach hard money loans, how to have lenders lined up for deals, and what to do when you can’t refinance at the end of a BRRRR deal.Kyle brings up “imposter syndrome" and how it’s easy to psych yourself out of deals that you can handle. This is a great episode for any new investor who has never used hard money, creative financing, or wants to go from 1 unit, to many.In This Episode We Cover:How Kyle bought his first duplex before graduating collegeHow to pivot career paths, even if you’re just starting outWhy it’s important to do the “hard” parts of real estate, not just busy workWhat a land contract is, and how it differs from seller financingUsing 0% credit cards to finance materials for dealsHow to prepare your deals for hard money lendersHow to find great electricians, general contractors, and other professionalsWhy you need to ignore the “imposter syndrome” that can creep up during dealsAnd SO much more!Links from the ShowReal Estate Rookie Facebook GroupAshley's InstagramTony's InstagramBuildiumBiggerPockets ForumsBiggerPocketsZillowMooBiggerPockets PodcastCheck the full show notes here: http://biggerpockets.com/rookie41


More episodes  


Listen to 0 to 7 Deals in a Year Using Other People's Money with Andres Bernal

0 to 7 Deals in a Year Using Other People's Money with Andres Bernal

Jan 20, 2021
Listen to How an “I Don’t Want to Invest” Couple Became Successful Long-Distance Landlords with Annie and Trey Johnson

How an “I Don’t Want to Invest” Couple Became Successful Long-Distance Landlords with Annie and Trey Johnson

Jan 13, 2021
Listen to Programming Note: Show News

Programming Note: Show News

Nov 6, 2020
Listen to New Co-host Tony J Robinson: Scaling with Short-Term Rentals

New Co-host Tony J Robinson: Scaling with Short-Term Rentals

Nov 11, 2020
Listen to Balancing a Career, Family, and Lots of Deals with Active Duty Service Member Adam Whitney

Balancing a Career, Family, and Lots of Deals with Active Duty Service Member Adam Whitney

Nov 18, 2020
:: / ::
1.0x 1.5x 2.0x