All Forum Posts by: Anthony L Amos Jr

One of the biggest complaints I hear from investors is "I should of kept more properties." It all depends on your long term goals but ownership is the key to generational wealth 

You should focus on your CORE 4 when long distance investing 

https://www.biggerpockets.com/...

The answer is in your goals. Buying turn key properties is great if you have the cash and looking for good cash flow. There is definetly more risks when renovating however the reward can be well worth the risk if you build the right team. 

Good Luck!

Absolutely Not!!!!!!!!!!

Teach them how to pronounce your name. A nickname is ok but do not "Americanize" your name.

Make content teaching people how to pronounce your name and what it means.

When adding value to people lives, they will remember your name.

Good Luck!!!!

If there is room to pay a lender back with a refi after rehabbing I would def look into getting a renter in it and keeping it, taking any cash leftover and invest in something else. If the numbers workout you can find lenders that will pay for the rehab but you may not be able to escape the high interest due to credit and experience. But that's ok if the numbers still workout when analyzing. You maybe be able to get around at least 195k (75% ARV) out with a refi if the lender's appraiser agrees its worth 260k. Subtract closing, mortgage, lender, and rehab costs to get an idea of what you'll have left over. Keep calling community banks that will work with your credit situation on the refi, raise private or hard money for the rehab (get fees associated upfront so you can calc.) and reach out to other investors in the area that can help guide you through the process for a share of the take home after refi.

Seek to Serve or Pay to Play

Good Luck!!

Find a good partner who is strong in those areas. However, at some point you will have to learn to build those relationships. Something that helps me is knowing that I can only come out better by speaking to people. You will loose nothing! Ask away and only deal with those who are willing to help. We are all human and started somewhere. 

Good Luck!

You typically will run into issues with finding a lender who will loan on a multifamily property when you have a primary residence. It would be considered a "step down" in your quality of life and a lot of lenders don't like that. You could put 20-25% down by saving, partnering with someone with the money or whom does not currently own a primary residence, or learn how to structure seller financing. 

I would began networking with investor friendly agents, mortgage brokers, contractors, and property management companies in the areas I would like to invest in. Also you have to pick which exit strategy you would like to use i.e. flips, buy and hold, notes, creative finance, etc... and talk to an attorney to make sure you are incorporated in a way that is beneficial to your strategy. Also find other ways to finance your properties. One reason people love real estate investing is the fact you can leverage other people money. 

Have you considered a FHA 203k Loan? You find a property that needs some work and the loan will finance the rehab. Furthermore, in this market you have to get creative and work with local realtors who also have the ability to find off market properties and are educated in creative financing.

You have to get good at raising private (not hard) money for times when your personal capital is tied up. By building relationships with private money lenders you can finance the purchase and rehab if it is a great deal. Also you should connect with other investors and agents in an area to run the deal by so you can put in quick offers. 

I would call local property management companies, agents, and the local planning and development department to get an answer to some of your questions. Also a great website to get a lot of info about an area is

https://www.neighborhoodscout....