All Forum Posts by: Andrew Thomas

Hey Andrew, great to see you taking action so early in your real estate career! There are several ways to fund your first investment deal, even without substantial savings. You might want to explore DSCR loans, which allow you to qualify based on the property's cash flow rather than personal income. Hard money loans are another option for short-term financing, especially if you're looking at fix-and-flip opportunities. Partnering with investors or finding a private lender could also be a great way to get started. Happy to chat more if you're interested!

The way you get money for real estate investing is working a job and saving as much money as possible. Also, I grew up in the Rochester area and if you want to be investing in real estate I'd recommend you get out of NY now while you're young.

Amazing! But perhaps you would be better served helping a local experienced investor find deals and ask them to show you exactly how they analyze deals, what's good vs bad, how do they finance (debt vs equity) etc etc and understand their business model that has a proven track record by providing value to them. You can earn commissions while learning and tapping into an existing network - all with potential partnership opportunities before you go out alone. 

So you’re an agent who is also in college. Have you started your first househack with fellow college students? You’ll put 5% down but get 2% back on sale (which might pay for your closing costs) and then do a rent by the room to cover your expenses and downpayment for next year) Not sure which university you are at but both Henrietta and South Wedge are solid places to start (serving RIT and UR respectively) Good luck, I personally think Rochester is a great area to start due to constrained supply with a growing population

@Andrew Thomas Hey Andrew, I am also a local agent over here in Rochester. Feel free to give me a call and we can chat. It would be a lot easier to discuss over the phone haha.

Basically you find these distressed properties in pre foreclosure, probates, divorces, or just ugly vacant properties. then you calculate the Max allowable offer and if it makes sense you call up the property owner, get it under contract for dirt cheap, then you assign the contract to a cash investor for an assignment fee. 

this is the general idea obviously it gets more in depth, but its finding deals that you would buy as a fix and flip or brrrr, and instead of actually buying it you sell it to other investors.

 One of the best ways(not the most exciting) is cold calling owners. You can target certain niches. You can attend and be very active at networking events. Open houses. Building a social media presence. There is many different ways, key is being consistent.

have you thought of wholesaling? I am a newer investor looking into that and Rochester is one of the best places to start. It takes pretty much 0 up front cost and you can make upwards of 10k on one deal.