All Forum Posts by: Branden Sewell

@Anthony Wick From what I understand you can’t do a 203K loan if you plan to live there. My wife and I currently rent and we are trying to get out of that situation by house hacking a duplex or something like that. Already went the route of a relative and that won’t work in my situation. Don’t have a relative with that kind of money.

@Dan Barli Yes, that is correct. We are looking in Orlando or surrounding area where we currently do business.

@Dan Barli I am thinking long term. I would love to start with a duplex. Live in one side with my wife and rent the other. But I just don’t have the kind of capital needed for a down payment on a duplex. Not too sure what my options are. I would rather do that than buy a single family home. I have my own business but only have one year under our belt. So we are basically working with my wife’s income. We got pre approved based off her income for a conventional or FHA type loan, but to get a duplex at the price we are pre approved for it just wouldn’t make sense. Unless we found some kind of miracle deal at $200K. Any advice given our situation?

I reached out to a lender and I was told I had to have capital of my own. I thought you didn’t have to have capital? He told me any lender is going to require me to have capital. He basically told me to save up some money and try again. It could take me a few years to save up that kind of money. How the heck am I supposed to get started with no capital. People make it sound like people just hand over money to help with funding a deal but I’m just not finding that to be true. Anyone have some real advice on this? Or am I just not looking in the right place for funding? Help me get creative!

@Troy Marschall Is that on BiggerPockets YouTube channel?

@Anthony M. I would personally say, I am a contractor and what sets us apart is our ability to always answer our phones and respond. Most contractors do all the work so they don’t answer because they have more work than they can handle by themselves. We don’t do the work ourselves. We leverage our crews, manage and oversee them, so we can focus on providing customer service. Look for a contractor who is a business minded person. Contractors who aren’t business minded are just loaded down with too much work. Hope that helps!

Naturally I am not a numbers guy. What are some good resources just to learn the numbers and finding a good deal? Specific Podcast Episode? Specific Book Going Over Numbers? Anyone willing to meet up in the Orlando, Fl area to go over it with me? Etc. Thanks!

Currently I own a business and my wife works full time. Between my income and my wife’s we are able to save $1K+ per month right now. We want to get into real estate investing but we can’t figure out how to come up with enough capital unless we wait 2-3 years which we dont want to do. I would lone to do my first deal before the end of 2018. I have called a few people about private lending but nothing came of that. I also called a couple hard money lenders but it seems like they still require something as a down payment. I just need some advice. Can I really get started with where i am right now? Other things to consider. We have pretty decent credit scores. Only challenge is my business hasn’t been established for a full two years yet. Haven’t been able to include my income from what i understand...? Can someone please share their creative strategy for finding funding/capital? Can i really get started now? Thanks for any info or advice!

Is it a bad idea to do a new construction deal on your first deal using hardmoney? Anything I should be aware of?

@Thomas S. Where would I find my local club?sorry I’m a serious newbie