All Forum Posts by: Account Closed

Hello all,

I am looking at a few leads in a few markets. I won’t list details here because the forum isn’t the place for that, but I know I will need private equity. For those who have raised private equity before what did your presentation include to private investors? What numbers did you include and why? 

@Michael S. THANK YOU SO MUCH! That cleared up so much. 

I know BP has some rules about posting about deals. I also have seen some people post some deals and then when I post some details I get marked for not posting in the right spot. I want to respect the rules of the community what are the rules about posting about deal specifics in the forums? 

I talked with a friend last night about getting my first rental property, and he said something that I will say to you: "Your first property doesn't have to be a home run just get a base hit" You can have a long career hitting just singles and doubles. 

Sheesh second rental! I been trying to get my first one for months. I would probably say keep growing. Maybe use your home equity in the first one to finance the next one. We have a similar goal we should talk. I would be open to getting on the phone. 

 Same here haha. Feel free to send me a connection request. I believe you can never know too many people in real estate. 

My biggest challenge right now would be getting enough capital to meet the liquidity requirements to qualify for my HML. That number is $15k and as a college student that is hard to have saved in my bank account at once. I am considering using a private individual and paying them 10% on that when I sell the flip.

@Tiamo Wright thanks a lot for the encouragement! I will send you a connection request if that is ok. I can never know too many people. 

@Andy Grizzell I like Andrew's thinking as well. It is always good to hear a different side of things. I have access to off market deals with the people in my circle and also some pretty low cost turnkeys and ready to rents. I understand what you mean by finding a deal and then a partner. I have been playing around with the rental property calculator and my agent is finding rents on a few properties right now, so I can have an accurate income to put in. Would you be open to connecting? I can send a connection request. If not, I completely understand. 

@Andrew Garcia I haven't ever heard of a DSCR loan before. I will look into that for sure. Value-add would be a rehab? I haven't heard that term yet. I have some property managers that I would have manage the deal. The reason I mention the mortgage is because then I would still have some skin in the game. I don't have any intentions on defaulting because I would have at least 6 months of reserves in PITI.