All Forum Posts by: Blake Harris

@Zach Quick     

Great advice, thanks for the response!

I am about to turn 20 and I have realized that a large number of individuals in real estate that are ultra-successful are in the business of commercial real estate syndication. I am here asking for advice on how to begin to build a network of accredited investors as well as how to convince brokers and lenders that I am serious about this business. I am watching podcasts and reading to educate myself on commercial real estate syndication, and in addition, I am interning at a large investment company in Kansas City. What steps do I need to be taking? Thanks all.

@Chris Seveney

I like the way you think.

@Erin Dorsey Robinson

Many that reach 1M in net worth quickly start with a multi-family house hack. With an FHA loan, you could put as little down as 3.5% on essentially an investment property. If the numbers work just right you many cash flow while also living free, and on top of that you begin to gain equity.

After year 1 you could then refinance into a conventional loan and move into another multi-family with another FHA loan. You now have 2 multi-family properties only in at 7%.

To go even faster you more than likely could invest the money you are now saving from rent into another single family as a buy and hold investment (rental).

After just a couple of years, with the mortgage pay down, appreciation, and the cash flow you would be worth 1M.

On top of that, if you would like to go even faster you could do a couple of flips. I could feasibly see you seeing your first million in 4 or 5 years following a similar plan.