All Forum Posts by: Brenda Hedges

@Christopher Cousin

Thank you that is helpful advice. So maybe I'll do my own taxes for this year but find a good accountant to help advise as we move forward with other projects.

@Chinmay J. Thank you for pointing me to that thread. It was helpful. It sounds like I could use an accountant for their ongoing advice. Now I just need to find a god one. 

I've been doing my own tax returns for over 20 years. Last year in addition to my regular real estate transactions as a real estate agent, I bought and flipped a SFR. Normally, I use turbotax business and have found this program to be adequate for my purposes. My REIA group has indicated that having an accountant would be beneficial. What would you recommend?

Welcome! First, I'd like to agree with what Samantha said. If you want to practice real estate part time, there are small boutique shops that would let you do that. Most of the franchised brokerages like full time agents. You might want to research some of the no cash options for purchasing. I purchased a house with no money down by using owner financing. There are other ways as well to get started without any cash including the personal loan or I've seen folks borrow their down payment on credit cards. Not the preferred method but if it gets you started, it might be worth it. 

I have my license and work real estate part time. I don't make a lot at it but it helps support my investing habit. There is a lot to know and getting some real estate transactions under your belt as an agent is a good first step to being comfortable doing your own. Best of luck!

@Lindsay Damici

Lindsay, Welcome to Bigger Pockets! I joined here about 9 months ago and now have my first investment property under contract in Montpelier, VT. There are a lot of great resources on BP. I'd recommend listening to the webinars on the BRRR (Buy, Rehab, Rent, Repeat) strategy.

You'll find folks are very supportive and helpful in the community, both BP and VT. 

Has you real estate agent pointed you towards FHA loan programs? You can check them out here:

https://www.biggerpockets.com/mortgage/home/popula...

This is a good way for first timers to finance their duplex. 

@Blair Knowles Many thanks for the kind words of encouragement. I've got my application in with 2 banks who are looking at it. I had to go to a commercial loan. Fingers crossed!

RCN did get back to me. They have a minimum loan in Vermont of 1 mil.

@Peter Amour Thanks for that recommendation. I wouldn't have thought of them.

@Darrell Lee Thanks for that recommendation. I'll give them a try.

@Blair KnowlesThanks for the encouragement. I'm continuing to contact other potential lenders. Because it's a flip, I'm not being allowed any rental income. I'm working on my taxes and will look at possibly taking fewer deductions on my 1099 income. That's a good idea. We're very close to making the ratio. I'm hoping another lender will be able to make it work.