All Forum Posts by: Brandon Ellis

Fund & Grow has helped me with obtaining $40K of business credit for my first round.  The reason why I went with fund and grow is because I figured I was paying for their relationship with banks to assist with getting larger credit.  They do a good job with walking you through the process of getting credit.  Granted the part I'm at right now is trying to remove some of the hard inquires. 

Additional lines of credit are additional financial tools.

Using Fund & Grow has some educational aspects to it as well as you work with their representatives you gain a better knowledge how the credit system works.

First of all, we live in the information age.   Information is so easy to access now and yet colleges sell information at a premium.  If your using a student loan for your college you need to sit down and figure out if the education is worth the loan you'll have tied around your neck for half your life (or more).  

You could study and get a real estate license and that could be a starting place.  (gives you experience in sales and ability to see many houses so you get a better idea of what you want to buy)

If selling isn't your thing, maybe pursue becoming a contractor/electrician/plumber.  States have different requirements but you could get paid to help someone do the work then once you have experience you could test to get a contractors license (seems to be a shortage of contractors).  

Find a duplex or 4-plex and see if you can get a hard money loan or something to pay for it then live in one part while renting out the other parts to pay back the loan. (House Hacking)

There is a lot you can do in real estate and quickly make money.  Unless your becoming a doctor/nurse/lawyer you may want to think twice about continuing college.  Especially if your using a student loan.  Stay away from student loans like the plague.

This is my 2 cents.

@Theresa Harris  I'm really in the middle of repairs.  I started off doing repairs myself but finally came to the realization it would be better if I just got a contractor to finish work on it.  As time goes on I find a few more things that need to be done such as the ductless AC, Walkway to front steps (It's just grass right now), front brick steps are usable but I wonder if they could be considered a safety issue.

I don't know, maybe I'm just over thinking this.  I know a property manager in town, once the contractors are done with their part I'm going to see if I can schedule time for a property manager to stop by and see if he can see any issues before someone renting or whether I should sell.

I'm up for any advice. 

@Joe Villeneuve

Hey Thanks. I believe I see what your saying. Even if you sell at a loss or loose a little money and fold your hand. You still have the next round or in REI could work out another deal which may end up better than the last. As long as I stay in the game and keep moving forward one step at a time.

I'd tell your friend to put the property on the market and to tell the sibling they need to start looking for someplace else to live.  Or figure out if the sibling could afford it and sell it to the sibling.

Being they're dealing with family, there isn't any good way to go about it.  This is why you really don't want to rent to family.

1. I've heard that local credit unions/banks maybe more willing to work something out with HELOCS or equity loans.  You may want to talk with them.  Also you might be able to "package" multiple properties and do a cash out mortgage on that instead.  I've never done this but heard of it being done.

I'd like to see what other peoples responses are to this.

@Joe Villeneuve  Thanks for the input.  Have you had any properties you bought but later you realized it was taking things in the wrong direction?  I just want to hear your experiences or anyone else for that matter.

So I bought my first investment property earlier this year for $55,000 cash.  This property wasn't in horrible shape nor is it in good shape, somewhere in the middle.  Built around 1950s.  I'm currently getting work done to it and was planning to hold it, however I'm also wondering if maybe I should sell it now that I've gotten some experience in what to look for in a house.  It's a 4 bedroom and in the area it's in would rent for about $900 per month.  

I'm currently in the process of buying my second property with a mortgage $85,000.  It's a duplex with both sides being rented for $500 each. 

My question is, is there any good way to tell if I'm "Emotionally attached" to a property and keep thinking to myself "If I fix this one more thing it will be renter ready"?  I still feel like there are a couple of big things that need to be done.  At what point do I say I've wasted enough time and just go ahead and sell it to use the money elsewhere?

Then again, I could just be getting cold feet with this first house when it will be Okay.  I do know it needs a Ductless 2 Zone AC system for the upstairs being all the AC vents are currently for the downstairs due to it being an older home.

Tell me your thoughts.  First deal stuff.  The way I figure, at least I learned something.

All I have to say about college is they're another business selling information in the information age.  In other words, the Internet has made all the information a college has readily available to us, unless your going to be a Lawyer, Doctor, or some skilled work.

I've thought about going back to school but I don't enjoy writing papers.  I'd rather read, learn, and do. Colleges seem to miss the "do" part which in this day experience seems to be what is important.

I guess my questions would be, are you a licensed contractor or does MD have any laws about needing licensed contractors to do specific jobs?  If you want to get into the house flipping business you might want to go and find a contractor to work for to get the experience and get licensed as a contractor.  If you have the money, go and find 3 or 4 contractors to get quotes from to fix a house up before you purchase it.

Just happened to find this: https://www.realtor.com/realestateandhomes-detail/...

One of the main things I've seen people say on other videos is you want to make sure the "bones" are good before you buy as well.  Make sure there is no termite damage, asbestos, find out if there was lead paint used etc....

I'm on my own journey with getting a house fixed up in NC but due to all the building happening right now it's been a struggle for me to get a contractor around here.