All Forum Posts by: Carmen Falcone

Greetings everyone,

I've recently been presented with a job opportunity as a Mortgage Loan Originator, but as I delved into the industry, I stumbled upon a rather unconventional niche: becoming a Hard Money Broker.

I've been making efforts to gather information about this path, but my searches mostly lead me to courses for sale or results about hard money loans, which are undoubtedly useful but not exactly what I'm looking for.

Would anyone happen to possess knowledge about becoming a hard money broker, or perhaps you could point me in the direction of a valuable resource to expand my understanding of this unique opportunity? Your insights would be greatly appreciated.

Thank you! 

Greetings, everyone!

I'm Carmen, and for years I've been nurturing a keen interest in the realm of real estate. While my fascination lies predominantly in the investment aspect, I've found myself constrained by the lack of initial capital required to embark on the investment side of this dynamic industry. My overarching goal has been to accumulate enough funds to fuel my entry into the world of real estate investment. Regrettably, this strategy hasn't unfolded as seamlessly as anticipated, prompting me to explore an alternative approach.

In light of this, I've decided to pivot my approach. Instead of waiting to amass the necessary capital before venturing into real estate investment, I'm now focused on leveraging opportunities within the industry to generate income first. By actively engaging in the industry itself, I aim to eventually channel these earnings into my investment pursuits.

It's not uncommon to encounter this dilemma during one's career journey. Many individuals aspire to transition into different roles or sectors, yet find themselves reluctant to take a step back in terms of income for a span of years, even if it leads to greater future prospects.

With this in mind, I'd like to pose a straightforward question: How can one initiate a career in the real estate domain without undergoing a significant financial setback? What avenues are available for both learning and earning? Furthermore, I'm curious if there's a particular niche within real estate – such as property management, sales (real estate agent), apprenticeships (if such opportunities exist), and more – that offers a promising starting point.

Your insights and guidance on this matter would be greatly appreciated!

Greetings, everyone!

I'm Carmen, and for years I've been nurturing a keen interest in the realm of real estate. While my fascination lies predominantly in the investment aspect, I've found myself constrained by the lack of initial capital required to embark on the investment side of this dynamic industry. My overarching goal has been to accumulate enough funds to fuel my entry into the world of real estate investment. Regrettably, this strategy hasn't unfolded as seamlessly as anticipated, prompting me to explore an alternative approach.

In light of this, I've decided to pivot my approach. Instead of waiting to amass the necessary capital before venturing into real estate investment, I'm now focused on leveraging opportunities within the industry to generate income first. By actively engaging in the industry itself, I aim to eventually channel these earnings into my investment pursuits.

It's not uncommon to encounter this dilemma during one's career journey. Many individuals aspire to transition into different roles or sectors, yet find themselves reluctant to take a step back in terms of income for a span of years, even if it leads to greater future prospects.

With this in mind, I'd like to pose a straightforward question: How can one initiate a career in the real estate domain without undergoing a significant financial setback? What avenues are available for both learning and earning? Furthermore, I'm curious if there's a particular niche within real estate – such as property management, sales (real estate agent), apprenticeships (if such opportunities exist), and more – that offers a promising starting point.

Your insights and guidance on this matter would be greatly appreciated!

@Bob Derwin can you give me some more information on these meet ups. I had no idea we had something like that here in pittston

@Account Closed Yes, I currently have two properties that I really like. I would buy both if I could get the loan. Both have there ups and downs but both would be very nice money makers. Something I forgot to mention before is that I want to form a LLC, Would this effect the banks decisions?

I am 19 years old and I'm looking to buy my first investment property (a buy and hold), but I'm having a hard time getting a loan. I have the cash to put the 20% down and have extra cash incase of an emergency. The main problem I'm having is I do not have proof of income. I work in sales but the banks want proof of income for at lest two years. Is there any way I can talk to a bank and get the loan or will it be impossible? If I can't get a loan from a bank what other options do I have? I read about some people using private and hard money lenders but I know very little about them. Where can I find a private/hard money lender? What are the advantages and disadvantages of using a private/hard money lender?

New investor here and doing a lot of research before purchasing my first property. My friend and I both agreed to invest in real estate together. We are both fresh out of high school and work full time jobs. If we didn't work full time I wouldn't be asking this, but is it a good idea to get property management from very start? Investing in real estate is something I definitely want to do but I'm worried we will both be too busy working, and will not be able to take care of the property and tenants properly. Making less income on a month to month basis is not a major issue to me because we plan to take 100% of our profit and reinvest it. Either in the property we buy or in an account getting ready to buy the next property. We plan to do this for about 7-10 years. So what do you guys think?

*I understand that I am getting into a business relationship with a friend. Which is a big No-No for some people, but I would like to avoid that topic and focus on the question asked. Thank you!

@Natalia Collini So if I wanted to do that, could I just not rent one unit out for a year? Or do I have to actually live there for a year? 

Thank you for you help, I've decided to let go of the deal even though the price is extremely low, and look for something in a nicer area. 👍🏽  @Shawn Ginder @Andrew Ware

If you have an FHA residential loan you need to occupy one of the units and can rent out the rest. My question is can you ever rent out all of the units or will you have to occupy at least one of them for the life of the loan? For example, I live in Pennsylvania and a residential property is 4 units or less. Lets say I bought a four unit apartment, lived in one, and rented out the other three. Now if I wanted to move out of that apartment in a year from now, would I be able to rent out that fourth unit?