All Forum Posts by: Aaron Macken

@Mary Cronin thanks for the response. I’ll have to see how they are in my area with giving up information. And if wholesalers make a living doing this already then I feel like I might as well buy off of them as my free time is very limited 

@Christopher Parsons I’ll definitely see about getting in contact with some wholesalers. Sounds like it would save me some time. I’ll do that in addition to working with an agent. sounds like my best bet as most of my time is spent at my day job (web developer). 

@Christopher Parsons I'm looking to buy and hold some investment properties. Preferably multi family but I'd be open to trying out whatever works in my market. I'll get a feel for what's good over time. I want to use the BRRRR strategy but I plan on doing a couple conventional investments to build up experience before I bring in a private lender.

I’ll check out those recommendations you gave me. Do you know of realtors have knowledge about Some of these distressed deals or are they something I’d have to find by reaching out to local county admins? 

Great post! I gained a lot of insight just from reading!

Hey everyone!

My name's Aaron and I'm looking to get my first deal pretty soon. I wanted to ask if anyone had any experience in the following methods of finding deals:

- Foreclosure

- Probate

- Short sales / pre-foreclosure

Any pro's & con's of searching this way? How has it compared to simply searching through the MLS with an agent or hunting on zillow / realtor / redfin?

Hey everyone!

I'm looking to get my first deal underway, and what better place to start than with getting pre-approved for a mortgage loan. 

I've read that one issue people have is getting more than 5-10 loans at a time. (I'm assuming this is from bigger banks like chase, wells fargo ect). But a workaround for this is to get paired up with a portfolio lender.

Are these portfolio lenders just small banks that need to do loans in order to make money? What are the pros and cons of going with a smaller bank to do loans (aside from the obvious number of loans that you can get)

Your feedback is much appreciated!

-Aaron

@Michael Kiley Thanks for the response Michael. I'll for sure DM you

@Daniel K. Thanks for the response. Makes sense that a private money lender would want you to have some experience under your belt before considering you, and I don't many individuals with money to loan. 

I'm guessing my best bet to start off would to find a stinky home under market value, use my own money to rehab then rent it out. Maybe repeat that process one more time to show that I have some experience under my belt. After that I could look to acquire financing from private money lenders and go full speed ahead with the BRRRR strat.

@Daniel K. Good point. I'm really not that handy, but I have some family members that are and are willing to help me do some rehabbing. It would probably benefit me in the long run. My only concern would be holding costs for the amount of time it would take as I'd really only be available on weekends. Probably would beat getting into a bidding war with someone which would ultimately effect my bottom line.

Is it also possible to get a conventional loan on a somewhat distressed property, fix it up with my own money, then refinance it to get my rehab money back from the equity I've built? Kind of like finance, rehab, rent refinance? 

Hey everyone!

I'm looking to do my first rental property investment within the next few months. I'm planning on house hacking a duplex. 

For a first time investor, would you guys recommend going with the BRRR strategy right off the bat? Or trying to find a decent turn-key property that I could just get in and rent out. On paper, BRRRR looks vastly superior to simply acquiring properties with a down payment, but I'm thinking it might be better to go with the conventional way of doing things for my first property or two, so I can get some experience and grow my confidence.

What do you think?

Cheers!

-Aaron