All Forum Posts by: Brendan Lawrence

Hey Geren,

congratulations! great win!

i'm out in montgomery county, if you ever come to towards DC, we should meetup. 

hey Roemello,

have you read Brandon Turner's book on the subject? check the link below  https://www.amazon.com/Book-Investing-Real-Estate-Money/dp/0990711714

otherwise there are products out there to get in a property for as low as 1-3.5% down. maybe find a partner to come up with the money?

hey Fareed,

congratulations for being on the path! i personally invest in low cost index funds until i have enough money then purchase a rental property. my thought is a savings account doesn't offer anything except protection, so asides for an emergency fund, hold the money in the market (it might go down) so it has the chance to grow. 

i think that by keeping in the savings account you are taking risk by not growing at all!

Good Luck

Hey Scott, i am not a lender, or a lawyer. however to my understanding, any note you are on will count towards the limit. my partners and i normally keep the deed in everyone's name and then take the mortgage in only one persons name, this allows us to get around the issue you're describing. 

i do believe getting the 10 loans would make it more difficult to get the primary loan. however you might be able to find a local or regional bank/credit union that keeps the note in house, which would keep it from counting towards the 10. or be available after you've already reached the 10

inflate the cost of the purchase price by 4800 and have the seller pre pay them, might not be able to go on closing docs but should be doable with some creativity. 

here o the site they have a huge if not the largest listing of hard money lenders. check out the link below! Good Luck
biggerpockets.com/real-estate-companies/hard-money-lenders/texas

Hey Albertinny, 

that's my site. i own and run a marketing agency. so i had some help ;-). i've been doing PPC since 2007. i've been doing lead generation for real estate since 2017. i would say roughly 5000 hours and a couple million dollar in ad spend (luckily paid for by clients). however you can start a class or training program and be good enough to get ads up in a matter of hours. you could test out these skills for only a couple hundred bucks. from there it's just Niche, effort and commitment. Good Luck

Hey Maxim, 

fun exercise. So the way i do these, is always assume the arv is off, that cost of money is for the whole project, that time will double and repair costs will jump. 

Asking price: $365,000
ARV: $540000 (10% discount)

unless you have a track record of success to offset i would start with way less rosey numbers and then adjust from there. on reviewing your numbers it seems very optimistic without much room for error. 

holy crap Chris! the people you bought from should have given you the tenant information, the current leases and most importantly the deposits they had in "escrow". on top of that some states or locations have first right of refusal for tenants, if you are in one of these areas, and your tenants were not approached beforehand be careful you may have a future problem. so once you do have all the information you need and you're ready for the next piece, i like cozy.co, it lets you manage remotely and accept rent payments online. one downside is cozy does not allow cash payments, i like this feature but i understand in some markets it is not feasible for tenants to pay anyway but cash. if this is the case i require my tenants to deposit the funds directly into the bank account and this is what counts as payment. it's nice because it also provides a receipt, and you don't have to track them down or work along their schedule to collect. 

Hey Michael, 

i own and run a marketing agency and for me personally, when i see real estate experience, i automatically give the person a boost in the application/interviewing phase. for me it's just an experience we share so i'd like to talk about it or know in the future we could. so i guess i'm saying unless there is a reason not to put it on your resume i would. i shows responsibility in other areas plus additional skills, and you just never know what might make you different or unique when applying to a position.