All Forum Posts by: Adam Sechrist

My partners and I are meeting with a mortgage guy this evening, in anticipation (and in the hopes of) financing our first deal. Which questions should we 1) be prepared to ask; and 2) be prepared to answer? Thanks!

I like that advice; hadn't come across anything like it yet. Good food for thought!

Thanks, @Jason Hirko. Tying up all our money in Deal #1 is my main concern. We don't have a ton of it, so that's why I'm considering getting some outside financing to start. 

I appreciate your input, @Josh Taylor. I'm excited!

Thanks for the input, @Account Closed. I do appreciate it.

My friends and I are starting out by doing fix-and-flips. Some of them have expressed a desire to use all our cash to do the first deal, but I'm wondering if we might be better served by taking out a loan. I understand and like the idea of using leverage to build up a portfolio of buy-and-hold properties, but I'm not sure if it translates to the flipping realm. Do the leverage principles from buy-and-hold (i.e. instead of plopping down $100k to pay for one property, you can get five properties at $20k each, with mortgages) carry over to fix-and-flip, especially when we are talking about our first deal?

Thanks, @Daniel Rosenberger. Are you going to any REIA meetups? Have you found any worthwhile?

Thanks, @Stephen Kiser! I'll try a little harder to fine one here.

I live in the York area right now, and I concur with everything that's been said so far. I've not invested yet, but I've spent considerable time there. The city is not good, between the crime and the exorbitant property taxes. Although I do know a few folks who do/have done buy-and-hold on some city properties. The outlying townships are strong, though.