All Forum Posts by: Dan Beaulieu

Dude awesome. Congrats on a great deal! Gotta love that Chattanooga cash flow coming from SD I’m sure…

 I agree. With no experience, you’ll at least have to have some capital. Wholesaling your first few deals would be the way to go. 

You could also attend local meetups and reias and make new friends. Somebody might want to partner with you on a deal and you could give them 50% of it if they fund it. That’s also pretty common starting out. 

@Brian O.

Keep it a duplex and keep your rehab costs down. A renovation that big wouldn’t be a great idea for a first project. A duplex will command a high price also due to the mad rush to house hack. This is all market specific of course, so just run comps on both and compare with your overall cost…but as a seasoned investor I probably wouldn’t even take that on. I always choose the path of least resistance even if it makes slightly less money. Your time Is surely worth something.

Your hard money lender is wrong about no other lender wanting to take that on btw. Just call around!

@Dominick Galinis Dude. Please do not get a personal loan to invest in real estate. Any sort of consumer debt needs to be out of the picture.

It sounds like you may have fomo. Just remember that people have been investing in real estate the same way for over 100 years and it's not going anywhere. It's a long game. REI will still Be here for you when your personal finances are in order and you've saved up plenty of capital for your down payment and reserves.

@Jim Spatzenfeld a lot of brokerages let you keep 100% of the commission if it’s a personal deal. One example would be EXP Realty

@Phillip Moses I'd be happy to steer you in the right direction

Thank you Ryan! 

I've been doing BRRRR in Chattanooga for 5 years and have been through a few different PMs, bad contractors and subs, Title companies, and the whole works. I'd be happy to introduce you to my current rockstar team, and some wholesalers, and help you get off to a great start. Helping new investors get started is my passion :)

Ask local investors and agents. There are definitely here money lender’s that will work with you on your first deal if you have adequate cash reserves. Cash reserves are much more important than experience when determining their borrower’s risk.

@Ginger Brown I pay my private lenders 10-12% and no points. It’s easier and there are no fees, so that makes it well worth it for them. I pitch that this is what Hard Money lenders charge, but I’d rather pay them.

Most investors can get bank money at 4% but just don’t want to deal most of the time if you have multiple deals to juggle and rehabs to manage. Too much hassle.