All Forum Posts by: Al Wright

@Al Wright check out the website that lists professionall property managers by state and area NARPM.org

If you are looking for a company in the Kanawha Valley, it is my understanding all property managers in WV must be a licensed real estate agent. I would contact some of the larger real estate companies like Old Colony or Real Estate Central for their contacts and go from there. I personally manage my own properties.

I understand not wanting to use personal collateral.  However I believe there is always some risk that one must be willing to take to be successful in real estate.  Hard money loans would be capable of helping an individual without any experience and no money to begin but as Anthony said there are many restrictions that come with it.  I would advise you to read the book called "The Book on Flipping Houses" by J. Scott.  Its a $29 E-book.  Even if "flipping" isn't your main priority it still contains a TON of information that is extremely helpful!  It covers many different topics in depth, including Financing options.  Best of luck!

Sounds like you are putting a lot of limitations on your investment strategy.  There is no such thing as "no money down" real estate. In reality, money has to come from somewhere to do the deal.  Hard Money still costs you money and if you can't perform, they get the house.

Check out Epic Real Estate Investing.  They have an owner finance deal going on with turn-key properties.

If you refinance after the rehab, that is fine. As long as you do it before the time limit expires. Why not get traditional financing?  Rates are very low.

Another option is to save up some cash, or get cash from someone sitting on .5% interest in the bank. Buy it with cash, fix it, refinance it, and take that cash to do it again.

How about a HELOC on you house that you live in?

Hard Money is OK, but I have never used it.  The restrictions and limits just don't appeal to me. 

Get all the parts together first, that way you can pull the trigger when a deal comes along.

Financing - know how much you will need. Figure what type of financing you will be using... conventional mortgage, hard money, all cash. Depending on what you're looking to do will eliminate some options

Contractors - do this at the same time you are figuring out financing. Vet a few contractors, do lunch or coffee with them, let them know what you're looking for... and make sure they're willing to work with investors... you shouldn't be paying the keeping up with the jonses, one and done rates... you will keep them flush with business...so they will need to provide a better rate.

Property - once you have your team... go out, find a property that meets your numbers, and pull the trigger!

 Then I think you are on the right track. Real estate is a capital-intense business, no two ways about it. If you don't have funds, or access to funds, you are either employed in real estate or you are investing in something else. I don't consider wholesaling, real estate agent, etc. as "investing" in real estate so much as working in the field. Others don't consider self-managed properties or any kind of "DIY" as investing, so it's all in your perspective. Either way, you need money from somewhere to buy a property. 

The reason I put money first is because if you have no money, and no source of funding, it makes no difference what property you find - you have no way to procure it. Search the threads and you'll find hundreds of "Hey, I found a great deal, now how do I pay for it?" one-time posts from people who probably didn't find any money. 

Once you have your money lined up - and it doesn't necessarily have to be your money; it can be a pre-approval from a bank; an equity partner; your mother; a HELOC; whatever - you are ready to find your "great deal".