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All Forum Posts by: Bryan Clement

Bryan Clement has started 24 posts and replied 159 times.

Post: Foreclosure purchasing information and suggestions

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

Thanks @Christopher Phillips! I am new at this (can you tell?) I work for a local bank but I think we auction ours on a small local site.... had no idea what others do with theirs on a national scale. Thanks! 

Post: To MBA, or not to MBA?

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

@Christopher Christian I am currently facing the same issue with my bachlor's degree, so less money but still a similar problem. Thanks for posting this question, the discussion has been really helpful. What I eventually settled on was going to the cheapest college I could find, debt free. Masters is obviously more expensive, but if you could get it from a less renowned place (USNH has an online accounting master's degree, for example) you may see a large amount of the benefits for a fraction of the cost, opening up the rest of your budget for real estate investing. Let us know what you decide and how it works out for you! 

Post: How Should I Prepare For a Market Crash?!

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104
The issue here isn't the total price of the house but the availability of capital for those trying to purchase the house. The price of the house dropped because people can't get mortgages to buy said houses. Even at significant price reductions, people usually still can't afford cash purchases. A.K.A, their only three options are moving in with family and friends, homelessness, or renting. Which is why rents rose, because of the larger demand for them. 

Originally posted by @Ken Scarbrough:

@Russell Brazil wouldn't lower housing prices and higher rents cause more people to want to purchase a home instead of renting? Therefore Lessing the pool of renters

Post: Realtors getting mad for asking them to do their job

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

Hopefully, after you buy something these people will take you more seriously. @Account Closed ever consider becoming your own agent? You'd make your money back on your first purchase, and it would improve your purchase price because the agent's commission will be going into your pocket. That could potentially help with your problem, especially if you're having trouble being out-bid and agents not taking you seriously. 

Post: Foreclosure purchasing information and suggestions

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

Hello, I'm looking to buy 1-4 family unit foreclosures or REO's, any foreclosure sites I should look at? I found HUDforclosed.com and Auction.com, but the latter does not have any properties in my area (Mid-Coast Maine). Any suggested places to look? Also, any tips on buying foreclosures would be helpful! Thank you!

Post: Best city/area to in buy and hold for cash flow in the U.S.

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

My opinion, though I haven't done much rental investing, is that even within all of those cities on the list (and those not on it) there will be boroughs that are better for renting and those that are worse for renting. Obviously, som cities will have more of the good neighborhoods than bad, but I would focus more on the actual sections of the area rather than the city as a whole. 

Post: Private Capital Fundraising Questopns

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

Thank you @Theo Hicks, that's great advice! 

Post: Private Capital Fundraising Questopns

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

Thank you guys! @Tom S. I have accounts that I'm paying on, the problem is I have quite a few of them and I've only had them for a year and a half at most. Any other suggestions? I did just get a student card for myself to try to get my credit score up. Hopefully that will help! 

Post: Very first flip - COMPLETE!

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

congrats! Love the before/after pictures too, make sure to share your next deal when it's complete! 

Post: Private Capital Fundraising Questopns

Bryan ClementPosted
  • Rental Property Investor
  • Union, ME
  • Posts 161
  • Votes 104

So I have a few targets for private capital for my next few deals. Do I get the property(ies) under contract first or do I see if my private capital sources would be interested first? I would have a hard time finding bank financing if the private capital fell through as my credit was shot down after I closed on my first mortgage (little credit history) any suggestions? How do other people find this solution? Thanks!