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All Forum Posts by: Brennan Doherty

Brennan Doherty has started 3 posts and replied 14 times.

@David Cruice 

I don't think I'd be interested in being a Realtor, it would be strictly for MLS access and saving commissions, not to mention it will help me build relationships with lenders, contractors, brokers, etc., however working at a real estate investment company for a few years definitely seems like a great idea to understand how everything works. My goal is to pretty much generate enough capital to kickstart off my investing career and learn as much as I possibly can about the business before launching into investing full time. Thank you for your advice, there's a good chance I'll get both because it couldn't hurt, right? Aside from the money spent obtaining them.

@Christina J.

My pleasure! And it's not really my goal to get a job in finance, so apartments may be the way to go. I just can't imagine myself sitting in an office typing into an excel spreadsheet for 9 hours a day and loving it, which is why I've turned my attention to real estate. My first, second, and even maybe third house is most definitely going to be a house hack, I just can't imagine paying hundreds or even thousands of dollars in rent that I'm never going to get back when I could be paying myself instead.

Also any chance you have any advice that you're willing to share for someone just getting into the apartment game? It all seems pretty daunting before you get started. 

Thanks for the comment and I'll be sure to keep you updated!

@David Cruice

@David CruiceThank you for the advice! I'll definitely look into getting my CAM license, I never even thought of that. I had planned on getting my real estate license for sure, I figured it would help me learn the industry a bit as well as save me some money on each deal by not having to pay an agent's commission. Which do you think is more important, or atleast which one would you recommend getting first?

@Matt Engle Thank you for the response. I feel the same way, however my first home is definitely going to be a house-hack just so I can live for free and get ahead that way.

I've been keeping my eye out for apartments, however my main issue is similar to what Jeff said, I'm having trouble locating motivated sellers who would be open to seller financing or a lease option, LoopNet or Redfin aren't exactly the best sources. Any recommendations for key words to look out for in the listings, or maybe any strategies you're willing to share for locating motivated sellers? Thanks again for your help!

Hey everyone, Brennan here, and I'm relatively new to real estate investing. I've been studying it and reading books non-stop for about the past 6-8 months and I can't wait to get started. I'm currently a senior in college and plan on graduating in the Spring with a degree in finance, and am currently still living with my parents and have no major expenses outside of paying for my car insurance and phone bill (Lucky, I know).

Given all the experience and knowledge on this site, I was just curious what would be the best way for me to start out? I planned on steering clear of the single family route, but planned on house hacking as soon as I graduated with a 3-4 family using the BRRRR strategy, and I'd like to repeat that for at least a few years, using FHA loans and refinancing at the end of each year to get a few cash flowing properties under my belt. I currently have enough money saved up to purchase a 3-4 family using an FHA/FHA 203k loan in my desired location, which is Worcester, MA. After I had a few of those properties by the time I'm 25-26, I would use a 1031 exchange to hopefully trade those into an apartment complex where things would really get rolling.

On the other hand, I'd like to get started as soon as possible and have a potential private money lender offering to lend up to 80k to get me started in real estate (I know this individual very well and they have a lot of faith in me, they can see how passionate I am about it). Not to mention I'm also actively looking for deals (smaller apartment buildings, 5-24 units) where perhaps seller financing or a master lease option would be a possibility so I can get started without much of my own capital, but obviously these are difficult to find given my inexperience in finding off market deals. Given all of these options, which one would the seasoned professionals out there recommend? Should I wait to graduate and simply start off by house-hacking a few triplexes/quads and go from there, or should I start actively looking for deals to utilize my private lender and to get my foot in the door and start scaling as early as possible? Any help at all is appreciated and I'm looking forward to hearing the responses from the professionals out there! 

Sorry for the long post which seemed to be all over the place, I'm just trying to figure out a solid plan for building my portfolio as quickly as possible. Thank you everyone!