All Forum Posts by: Anthony Dew

Welcome @Matthew Lindquist! I have to firmly disagree with @Heidi Pliam on the idea that you can't find lots of "like-mindeds" on here. Maybe I'm misunderstanding her because that doesn't even make sense. I do agree that there are some other good places to look and you shouldn't limit yourself to a single source! I haven't been on here long and have already made great connections and received lots of valuable insight. Lots of ******** too though. :-D But its definitely about the amount of effort your put in, and that's fair right? :) 

I'll try and say this as respectfully as I can that it is generally ignorant advice to argue that it is beneficial to not have your license. That is to say someone who is going full time into real estate. Depending on your brokerage it can drastically expand the opportunities that become available to you.  Worst advice I received was to not get my license and the next worst advice I got was to join a small brokerage  

Some other important benefits are you can legally and effectively sell people's houses if you don't want to take advantage of the deal; without investing your own money and making a percentage of the sale! If I have a seller who I cannot come to terms with on price I have the option of Listing their house (or passing it on to another investor and facilitating the deal). 

I represent other investors on deals that I may not want to buy  (which is the majority), I've established relationships with private money as a result. 

And lastly, when people say there are no deals on the MLS, that has to be the most misguided advice of all. 93% oh all deals are done using a realtor meaning that 90+% are done on the MLS. That being said the BEST deals may not (or may) be on the MLS. I've gotten amazing deals on the MLS. But a lot of times you have more control when the deal isn't available to the public. Just put it like this you can get out negotiated OR get a great deal and walk away a champion whether it's on the MLS or not !

If you can't give them what they're looking for find someone who can. Certainly don't listen to those folks who tell you to be patient and work you way up, or even worse not to take action at all. But also don't go into working with someone and getting  scammed. 

This us a long term strategy though but it may be helpful to work with someone who can compliment the areas you're lacking and you will provide a clear and concrete rendition of the same for them.  

@Javier Sanmiguel I'm a realtor and I work with a lot of investors and investment properties. Most of the stuff I deal with is under $1M. I have lots of stuff that's not on the market around the twin cities and I often have access to opportunities just outside as well. If you're interested message me and we can connect. 

Update: I got a pledge of $1M from an investor I worked with in the past! Not there yet but that is a huge boost! Thanks for a your help and advice so far!  😂😎👍

thanks for the comments @Brent Coombs and @Andrey Y. I'm just looking to hear about ideas and experiences. Just to clarify I am realtor, I got my license focused on the investment side although I have been doing a lot of traditional busy. Essentially I have acquired lots of investor and professionals who are experienced and I will definitely need to leverage their business& financial acumen to make it work. I know you're is going to be different but  I just want to hear about your experience and how you made it work

Great advice! @Mike Workman I've been researching some hard money options. Any good suggestions?

Bill thanks for your reply. I'll certainly take your words of wisdom into consideration. Although I am sure that there are many folks on here who have closed on properties without their own money; including myself. And I'm sure that its been done with $10M+ properties before. I'm hoping to hear from someone who has had a similar scenario 

He's already got a realtor to represent him for the transaction and if listed. 

Hi folks, 

I have a seller who is interested in selling an apartment complex worth somewhere between $10-$15M. Loan is assumable but I don't see a viable way for me to qualify on my own. It does not allow subordinate financing. And there is a prepayment penalty of $1 million. What are some ways to get this deal done without having my own cash to put down?