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Updated almost 9 years ago on . Most recent reply

User Stats

8
Posts
1
Votes
Jonathan Ranes
  • Richmond, VA
1
Votes |
8
Posts

Hello, any advice?

Jonathan Ranes
  • Richmond, VA
Posted

Hello, my name is Jonathan and just joined biggerpockets. I am a college student who has been interested in rei for awhile. My older brother in the navy got me interested in rental properties. He's on his fifth rental property now. He's taking a conservative approach and living in the property for a year or two before renting it out. I stopped studying rei because I thought you needed a lot of capital to start and it was slow churning process like my brother. I just found about hard money and how this could be beneficial to start with little money. I'm interested rehabbing a property and refinancing the hard money it into a non owner occupy conventional loan of 75 - 80 percent of the ARV. I've been looking at auction properties online, but I'm a little skeptical of "as is" properties that you can't inspect the repairs before you buy, especially if I need to provide a inspection list to the hard money lender. What do you guys think? Any advice would be helpful.

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