My Plan?

Well been studying REI for bout 3 months now. Here is my current state and plan.

I am a full-time student with no job(living off of student grant and loan). I have my own home(did have a good job) with $50k in equity for a HELOC. credit 735. I have a cosigner for employment verifcation to open the line. plan to use 6month no interest credit card for supplies.

I plan on starting out to rehab in my area. I do have xp in construction and have serveral contacts in specialized fields(electricians,HVAC, plumbers) that are trustworthy and will to work with me. I have spoke to my realtor and am getting the automated MLS sent to me with my criteria. He also has investment properties. I was directed to a peer of the family attorney for contract advice and such. Family insurance agent will do temp coverage for rehab. I plan on attending my first REIA meeting on the 20th.

Homes are cheap here. Outer “borderlands” are 40-60k 3br/1. And have already done a decent amount of scouting. I’ll be looking for rehabs that can be completed in less than 3 months. Have found some good calcualtors and info here for cost, formulas, etc.

I’m wanting to sell retail, possibly fincance with large downpayment to cover cost.

A drawback is here in Kansas city, HomeVestors are EVERYWHERE. almost spooky. Can’t go 2miles without seeing billboard.

I know this is not the easiest way to get started, but its in my “comfort zone”. I think if i dont’ get started soon, i won’t ever. This site has been the best resource by far. Thanks to all.

Appreciate all comments/concerns. I hope to post my first deal here soon. :biggrin: Come on experts butcher my plan. thx for the read. I have an exam tommorow, blah.


Man, you are good to go, Darren. No butchering of your plan needed. You just have to overcome that fear of failure that keeps many people from making the jump.

You have all the key ingredients to start investing. What is your big concern with HomeVestors? They don’t have all that many available listings and not everyone will want to do busienss with them.

You only need 1 seller now and 1 buyer down the road. Just make sure your rehab numbers include all the associated costs.

I say take the dive.


HomeVestors are everywhere here, when i drive to class, to the bank, grocery store, no matter what direction there are billboards, TV comercials, etc. But maybe its a good thing. By seeing them everyday, i know that they are doing it and with greater cost. HomeVestors BEWARE!!! :guns: