All Forum Posts by: Carl Stratton

@Marduk Mooshoolzadeh

Yes!! Consider partnering with someone with experience if you are going to flip the property. Two of you can put in the down and get a hard money loan for the purchase. There are lots of variables. Partnering with an experienced investor with a track record of success and honesty can greatly help your learning curve. This is how I got started with my first one and I made a profit. My first flip deal was 2O years ago.

@Bijou Diaou

Be very careful and even Skeptical of these seminars. I went to a Rich Dad Poor Dad investor seminar to see what they had to offer. I paid $600 for the 3 day class. They gave some very basic information but it was clearly a switch and bait session and a high pressure sales presentation to get people to sign up for their “next level” program for $15k to $50k. On YouTube there was an investigative report years ago exposing Robert Kiyosaki’s trainings as high pressure sales presentations. Today you have podcasts and so much information online that people did not have 10+ years ago. Use your money for your down payment. Find a mentor. Find a partner. I have seen people lose Tens of Thousands in these so called trainings and squashing their dreams of investing in real estate. I’m sure they are not all bad but many of the programs are not set up in the students best interest.

@Brett Sayers

I prefer my tenants not know I am the owner. I use a Property Management company but I will go check on the properties to direct maintenance and sometime do light maintenance to identify problems. I have a company or trust listed as owner so technically I work for the owner which is another entity. I keep my rental business strictly Business. I don’t want the tenants working me for any type leverage on any issue they have with paying the rent or repairs. Keeping my identity private is my business. Paying the rent and abiding by the lease is the tenants business.

From personal loans to borrowing from corporate lenders. What kind of deals are you getting right now on terms and rates?

@Ameenah Muhammad-Diggins

I would stay with white. It goes with every color. If your flipping grey is hot right now. If your fixing and renting I would go with white since trends change and white cabinets are always acceptable.

@Austen Carroll

These buyers are looking to buy under market generally. I get many calls for my properties mostly they are telemarketers or sending out mass mailings. I don’t think you will get a fair market offer from these investors.

@Season Price

I would save some more money and buy a small house to live in. FHA loan of 3.5 % down and you can get seller to pay your closing costs. Plus their are first time home assistance programs that can help you with your down payment. I think buying your first home that you can turn into a rental is a great way to start real estate investing. The idea that you can make money for next to nothing in real estate is unrealistic.

@Ryan Rush

It sounds like you bought too much too fast. You may want to sell a few properties that you have equity in and get caught up on your bills and other repairs. I’m not sure what you own but focusing on keeping your best cash flowing units and unloading a few of the units with less cash flow could be a good start. Don’t get caught up with the stories of people growing huge quick. You don’t know all the background details of those people. Slow and steady wins the race. Build a solid foundation.

@Andrew Smith

I’m In the Tampa Florida market and I often find cashflow properties off market. Looking online on Craigslist, market place. For Sale by owners and from my personal network of Realtors, Property Mangers who know I buy distressed properties. I search up to 50 miles outside of town to find properties in cities that have less investor competition. The deals are out there but you need to spend the time and energy to dig for them like a treasure hunter.