All Forum Posts by: Billy C.

@Greg Dickerson @Rebecca Bauer @Ryan Daigle Since I want to get into CRE, would you all advise me to start with residential units to help build my wealth, get experience, and be able to bring skill sets into a future CRE deal? Thank you!

I was initially interested in a duplex or triplex, but gained interest in commercial properties after reading small sections of Brandon's books and Michael Blank's Financial Freedom with Real Estate Investing book. Michael Blank and now Doug Marshall describe commercial real estate as a great investment with a lot of potential for scalability. 

Hi everyone!

I am reading Doug Marshall's "Mastering the Art of Commercial Real Estate" since I am learning about real estate investment. I am wondering about lenders typically wanting a borrower's net worth to be equal to or greater than the loan amount, have a DCR in excess of 1.25 to 1, a Global Leverage no more than 75%, and such. Are these hard and fast rules for lenders? How does a new investor go about meeting requirements like these? Also, it sounds like having a partner or two would be a good idea for many reasons. I have changed my schedule to dedicate the time I am not at work to educating myself on CRE investing.

Thank you for the help!

I was thinking about joining a syndication to. Any books on syndications that you all would recommend? Do investors usually take a year or so to learn the basics before making any moves?

Thank you all for the feedback and suggestions! I am looking to start in around 6-12 months from now because I know I have a lot to learn. This is why I am voicing my thoughts now.

@Charles Carillo - Are you thinking house hacking with a residential property?

@Steve Morris - Great idea about the mortage broker. What is an OPM?

@Alan Feldman - I want to look into this route to. I believe I ordered a book on this.

@Brian Geiger- I ordered some books on larger multifamily properties. I am trying to get educated on this topic. Thank you for offering those resources

@Bailey Kramer- The experience you listed sounds incredible and it is first hand accounts like yours, that makes me think, "Anything is possible." This is one reason I was drawn to real estate investing. I will let you know, thank you very much.

Again, I really do appreciate you all for taking the time to respond and care enough to help me succeed in this journey. I will be looking into the questions that were asked as well as the resources offered. Is there some unwritten rule that a rookie should read "x" amount of books, listen to "x" amount of podcast, and the like to gain what, the majority of investors would call, a "solid foundation of knowledge?" In other words, what criteria would you use to say an investor has a solid foundation of knowledge? 

Hi everyone,

I am new to this community and look forward to learning as well as offering my opinion where I can. I made the decision to get involved with real estate investing because the amount of opportunities are endless and I enjoy increasing productivity and efficiency. I feel intimidated, but I feel this is normal. This is compounded by the fact that I have no experience with a mortgage. I have gained knowledge from a few of the BiggerPockets books, but I realize I have only dipped my foot into the waters of real estate investment.

As of right now, I would like to look further into large multifamily properties (50+units) because I think there is more potential and that type of dynamic may fit my personality better. I will be reading some books specific to this investment type, but know that experience is the best teacher.

I am wondering if I am being too optimistic and perhaps overconfident in my abilities to be even thinking about pursuing a large multifamily property right now?

Meeting you all has been my pleasure and I appreciate any thoughts you may have. Thank you.