All Forum Posts by: Anderson S.

With just the information given, I'd say you could pull equity from your properties to help you fund the property that you're renovating. Let's chat more!

We at Brooklyn Funding Group can help! Feel free to DM me.

What do you plan on doing now? What would you have done differently?

Learn, read, learn and network. You don't know what you don't know! Welcome to the community!

Are the properties you currently have cash flowing? If so you could pull equity out to begin the BRRRR process.

Ultimately, you'll have to consider your risk tolerance, financial capacity to continue funding the project, and emotional investment in resolving the situation. If the burden seems too great, selling the property and redirecting your focus might be a relief despite the loss. On the other hand, pushing through to completion could potentially offer better returns if the legal and construction issues can be resolved in a timely manner.

First step is to understand the title situation, and then speak to lawyers and begin the process of getting your funds!

Welcome to the BP Community. There's lots to learn and so much to talk through. Glad you're here - reach out if you need help.

Hard to tell without some numbers/details.

I've been hearing a lot about the potential of real estate investing to build lasting wealth. How are you generating steady cash flow, benefiting from appreciation, offering tax advantages, and diversifying your investment portfolio?

Hey Lia,

First and foremost, congratulations on taking the initiative to embark on your real estate investing journey at such a young age. Your background in physics and economics, coupled with your leadership role in the Commercial Real Estate Club, provides a solid foundation for success in this industry. Your eagerness to learn and methodical approach are commendable.

1. House Flipping vs. Multi-Family Properties

Starting out, it's crucial to balance potential returns with manageable risk.

• House Flipping: While flipping can yield significant profits, it requires substantial experience in project management, cost estimation, and an understanding of the local market dynamics. Renovations often come with unexpected challenges and expenses. As a hard money lender, I've seen new investors underestimate these factors, leading to diminished returns or even losses.
• Multi-Family Properties (House Hacking): Investing in a multi-family property, especially through house hacking, can be an excellent entry point. By living in one unit and renting out the others, you reduce your living expenses and generate income. This strategy allows you to learn property management firsthand with less risk. Turnkey properties, which require minimal immediate work, enable you to start generating rental income right away.

Remember, no amount of education can replace the lessons learned through actual experience. Starting with a manageable project will provide invaluable insights. At 21, you have the advantage of time. Use it to build a solid foundation without rushing into large, high-risk projects. Real estate investing is a journey where each step offers new lessons and opportunities for growth.

As a hard money lender, I understand the challenges new investors face. If you need assistance with financing options or further guidance, I'm here to help. Together, we can navigate the complexities of your first investment and set you on a path to achieving your long-term goals.

Wishing you the best of luck on your real estate journey!