

How I Got Started with Real Estate Investing.
This is my first post and I am going to try to document the strategies I am taking to invest all over the USA. So far I am getting a ton of leads a day through various marketing channels implementing strategies found here right on BiggerPockets.com. I've used business credit to acquire my first properties in combination with hard money to secure the deal and shortly after refinance into a new mortgage. I'm sure Ive still got a lot to tighten up in terms of really taking this business to new heights. But for now this is a great start.
Here are the main strategies I am using
Building my cash buyers list.
The deal finds the buyers! Just get a few deals under your belt. Make sure you have a contingency in your contract so you can get out if all else fails. But once you start getting solid deals the buyer will come from far and wide. Trust me, Ive tried it and it works everywhere.
Subject 2 Agreements
Ive gotta say this technique is powerful and need to be in your arsenal at all times. One of the things I found that was difficult was finding the proper forms and documents to complete one legally. Oh not to forget the issue with insurance that need to be handled correctly. If not your looking for trouble in the future. I've helped so many homeowners avoid foreclosure using this technique and in return it is making me rich. I will start a whole new topic on this later and also how to find these types of seller and also what to say.
Business credit for downpayment
Yes that right. I use business credit. In honesty, I paid for a few seminars to learn how to build this and have raised 6 figures using business credit alone. Soon ill be over a million. If used correctly and responsibly you can use these funds for your down payments and grow your lines to be HUGE! Best of all none of the lines I used report on my personal credit. I took 1 year doing this and leveraged my personal credit to get this. Main reason for this is I did not want to over leverage my personal credit when buying properties. This is key!. Again ill go more on this in another post, but I'm sure it will steer a lot of newbies in the right direction until I get to the details.
No seasoning refinance.
After acquiring the properties I am refinancing into a long term mortgage with little to no seasoning. I learned how to do this right here on BP through various threads. Again I'll point this out in another post. It can get a little complex but once understood you'll be able to find a lender in your area easily that will do this.
I've gotta say the information here is priceless and if used correctly can take you from a newbie to a full time investor in no time at all. Right now I am doing a lot of buy and hold but occasionally flip deals to other investors. Follow my blog or reach out to me anytime. I don't bite.
Comments (6)
Congrats Geoffrey !
Just curious on how you present your deals to the cash buyers. How much details about the deal that you need to consolidate and present to the buyers to get them into the project ?
Thanks,
Francis
Account Closed, over 9 years ago
I started building business credit first. Then used the cash advances for the downpayments needed. Also I used a lot of creative investment techniques. 0$ - little money down does exist so don't let anyone tell you it doesn't.
Geoffrey Jones, over 9 years ago
Jean Lucas, over 9 years ago
Jean Lucas, over 9 years ago
Jean Lucas, over 9 years ago
Great post, Geoffrey! Your point about the using business credit is very interesting. I look forward to reading more about it.
Jason Hilliard, over 9 years ago