All Forum Posts by: Charles Kappe

I just had a few questions, I have a lender, an agent and a few mentors that I've been talking to about getting into real estate investing. I have a private money lender that is willing to present me with the capital to start out with my first property. I am working with an agent who is looking to partner up with me in the near future to put my background of construction and connections as well as his for the finding deals, buying and selling the properties together. I was wondering when I have a private money lender that doesn't want to be involved in the daily grind of flipping the home, and is willing to give me full delegated power over the transactions. How should I go about receiving the money for the buying and repair of the property, would I put him on the deed as well to cover him in his investment, could I put the deed in my name fully and receive the money from him at closing of my first deal to pay for the home and receive money for the repairs later on. Would I need to start an LLC if I plan to start with one home and build a portfolio of properties. Does anyone have experience with private money lenders and could share their experience of their first deal of a single family home, multifamily for flip or rental. Thanks in advance!

I am on the verge of jumping into the real state industry. I have been researching, talking with many different people who are already established in real state investing and I want to start investing. I have a few close investors who have the capital, a real estate agent, subcontractors that I speak to almost daily and are ready to get started when ever I pull the trigger. What methods have you used to find great deals like preforclosures, for sale by owner, foreclosures before they hit the mls where I'd have to compete with the more established investors. I am not looking to really wholesale but to use my first property to per say "get my feet wet". As it's not my money and I want to get the best deal to start out with. How have you found good deals outside of the MLS and as is condition properties? Thanks in advance for any feedback or advice.

I am new to the real estate industry, I have been reading this forum almost daily, reading different books and soaking up as much information as possible. I understand the basics of wholesaling and many people I have talked to have recommended some of the typical  "wholesale guru courses" personally I don't feel comfortable forking out money to a pyramid scheme style that don't have creditable sources. I was just reaching out for any one who has had success or has experience with wholesaling and could give some advice or even someone in the surrounding philadelphia area that I could talk to and get some guidance on the in's and out's of wholesaling. I thank anyone in advance for their responses (: 

I've been looking into both wholesaling and rental properties. I was just wondering who has had experience in one or both of these niches of real estate investing. I know that these are both completely different types just wanted to know personal experiences the good the bad and the ugly about both. I am very new to the world of real estate investing but wanted some advice or help on both topics. I know briefly about wholesaling, finding deals for investors or buyers, getting a contract for X amount, and assigning the contract to a buyer or investor for X amount leaving a profit for yourself. I understand that wholesaling is low to no money needed to start up. On the other hand rental properties preferably a duplex or triplex, I'd need a little more cash in hand to start up depending on the type of loan or investor I'd go with and the amount of repairs necessary.  I'd plan to live in and rent the other units out. Anyone have experiences with these methods and could share theirs with me. 

Thanks in advance, 

Charles Kappe 

@Cody Steck 

Hey Cody I sent you a private message we can talk further and I can explain any questions you have Thanks man! 

@Jordan B. 

Awesome man!

@Jordan Bazarnik 

hey Jordan I sent you a message and a request in our inbox 

@Jordan bazarnik

I've been comparing all areas, I'm open to all areas in Montgomery county I'm just starting out throwing ideas out here to get advice. Maybe we could exchange information and hhelpeach other out. 

@cody steck

due to me being an account executive and not a partner or owner of the business It's technically not a conflict of interest, the properties we deal with aren't bank owned currently they are deed in lieus or pre foreclosures so I am allowed to contact the occupants or mortgage owners on my own time.

@jordan bazarnik 

I have also looked in Bridgeport as well but the price of taxes per year are $5,000 compared to $2,000 in norristown. And with being only a mile away from norristown the Market is he same just Bridgeport is more expensive to buy in. Tenant quality, foreclosure rates, age of homes, repairs needed, are pretty similar

I just wanted to get out there and introduce myself to this forum, I've been sitting behind the screen learning from a distance, reading forums, watching podcasts, asking questions at my job etc. I am 21 years old, I live in outside of philadelphia, pa in a suburb in montgomery county, pa. I have a vocational background in construction, electrical, plumbing and masonry from my schooling. I am currently an account executive for a regional property preservation company dealing with the bid and invoicing for HUD properties, foreclosures, pre-foreclosures, bank owned properties etc. I see so many great homes come across my desk right in my home town, I see the homes before they hit any mainstream sites like zillow, truila etc have full sets of interior and exterior photos and even go out to properties myself from time to time and say to myself this would be a great deal. I am highly passionate about getting involved in the rental properties side of things, preferably live in duplex, triplex or quad-plex's or something in that nature. One thing is my money is very tight with being young but I don't see it holding me back. I was thinking a 203K for a loan option since I can afford the low 3.5% - 5% down payment but allowing me to factor in repairs. Most of the repairs I can do myself and also have the access to help with them if needed. I've seen some deals in my area, one for example was in Norristown, PA ( highly low income area, low price homes) a side by side duplex. $225,000 for both or $125,000 each unit. 3 bedrooms, 1 bathroom per unit. 2,100 SF total for both units. Average rent in the area is 1,200 per month for the area. The house just needs TLC. Maybe $25,000 worth of work per unit. Taxes cost $2,500 per year. I appreciate any advice or comments in advance.