All Forum Posts by: Amir Khan

We use a different system than traditional rentals. We buy distressed SFH assets, then seller finance them on installment contract while keeping on to the deed. Our returns can vary up to 44% range for cash purchases or up to 38% for financed deals (PML). DM me if you have questions..

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Recently upgraded to pro account and tried using the "find deal" tool. I was disappointed to see that the data was not updated (specifically for SFH MLS listed properties). Can experienced folks provide some inputs about the usefulness of this feature? How do you use it? Any suggestions and tips?

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Quote from @Justin Colon:

Hey everyone, my name is Justin Colón and I'm an individual investor looking for a mentor. I've read a ton of REI material, especially branding the Bigger Pockets name, and just about every source has emphasized the significance of finding a mentor. I got an email yesterday offering a fix-n-flip property and I'm looking for some guidance to help bring me through the finish line, as this will be my first deal yet. I'm very excited and determined to get it done while simultaneously nervous and anxious I may make a mistake along the way. Any help will be greatly appreciated. Thank you for taking the time to read my post!

I know how frustrating it is starting out with information overflow. DM me and I am happy to do a chat with you to help you out..

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Jersey City, New Jersey

Quote from @Liz Zack:

Our amazing cpa is retiring and we’re in need of a new team. Looking for someone who can help with accounting for our (unrelated to real estate business) and also help us with our investments including a 1031. Who do you work with that great! (We’re based in NJ)

Hi Liz I can recommend my CPA, she is great. Please DM me as I would rather not list her information here without her permission..

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Quote from @Pete Tarin:

As a person who is new to Real Estate and Real Estate investing, is it best to save up cash or do a cash out refi on your personal home to purchase a 2nd home (1st rental)?

Is there a financial calculator to determine if doing a cash out refi makes financial sense with today's rates to use for down payment and or purchase property?

As a rookie, which would you do and why?

You've already received some good advise here already. If you find yourself saying "I am new to real estate", then you do need some time to educate yourself (BiggerPockets is great for that) and plan your first investment carefully before jumping in.

Remember, buying a traditional rental is one of many different ways you can enter REI world. You definitely need cash for downpayment and reserves. Unfortunately, if you are hasty and/or don't underwrite your first deal properly, it could become an expensive mistake.

Reach out to me to chat if need more guidance...

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Welcome! What is your question?

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Quote from @Nathan Wadkins:

Hey everyone, been looking into REI for quite a while and am getting more serious. Purchased PR in 2020 with interest rate of 2.75%, 15yr. Owe $160k w/ $90k equity.

Gross Income: $10.5k monthly

$18k in loans

Current mortgage is $1600 and PR could rent for $1650.

My question is would it make sense to save for down payment for another primary residence and rent this home out with negative cash flow to get into the REI game. I can cover the negative cash flow for the remaining mortgage term and may look at paying it off early. OR should I be saving to just buy an investment property?

Negative cashflow is never a good idea (even if you can support it). Because at some point you may additionally have a major event/appliance failure and a large expense will make it even more expensive mistake.

Don't be in a hurry to get into the REI game. Take your time, do your research, save as much as you can. You'll know when the time is right..

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Little Rock, Arkansas

Quote from @Maggie Rose March:

When do you prefer using private money over traditional bank loans for real estate? Let’s dive into the pros and cons of each. I’d love to hear why some of you might lean towards one option versus the other!

Depends on your REI strategy. We buy distressed SFH so they cannot be financed by traditional financing and their requirements. Private money lenders primarily lend money based on trust and your track record. In our case, financing is always 100% (which is also not possible with traditional financing)...

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@Joseph Lawrence I am in North Dallas (I've lived in NYC), what is your investment objective in buying a new home?

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New York City, New York

Quote from @Daniel Chapman:

Hey Family, I'm looking to invest in Toledo and I'm not too familiar with the lay of the land. I'm a trucker and always passing through on my way to the Chi, but I really want to look into the area. So Toledo , please help me and let me know how I can help. I'm looking forward into developing my roots in the community!

I have few properties in Toledo (I am in Dallas), what are you planning on doing there?

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Toledo, Ohio

All Forum Posts by: Amir Khan

Amir Khan has started 20 posts and replied 269 times.

Post: Looking for Cash Flowing Rentals for Under $200k

Post: Find Deals Tool

Post: Looking for Mentor

Post: Recommend your tax / accounting team!

Post: Cash out Refi on Personal home or save up cash for 1st rental property

Post: I have a Property Im finalizing contact on in Warren, PA for $65k! Has tenants

Post: Advice on when to start - Financials

Post: Private Money vs. Traditional Financing?

Post: New homes in North Dallas.

Post: Toledo I need You. New Investor, Looking to connect and learn.