All Forum Posts by: Damien Smith

@Monroe M.

You can look into seller finance as an option.

@Nehemiah Smith so bro here are some solutions. If you want to get a private loan. Try SoFi and prosper. They are legit institutions. That loan you were looking at seems bogus because of the amount.

@Connor Ryan I’m a newb like you. Just closed a deal Monday. My man reading and getting advise is good but until you jump in you really won’t know. Find a good mentor. I found an agent who was also an investor in my area. The problem with living in one place and owning in another is it is usually good to rent near where you are. It’s hard to manage from afar especially just starting out. As for finances, running on your own steam is cool, but the amount you have saved for a good property that amount is closer to seller finance territory. As for back up money your in finance I’m sure you Know to diversify your investments just in case.

@Anita Anand Hello, I’ve read your post. I am new in the game and for me it’s like monopoly. I honestly don’t give much thought to failing, because successful people fail and are thankful for failures because it teaches you mistakes to NEVER make again. When I fit t started I was trying to get multiple properties. I am so glad I decided to take it one at a time. My closing was Monday and I’m happy with the purchase. One other thing I wanted to tell you is that a lot of your what ifs can be addressed with a diversified portfolio. Having MSI will elucidate that tension because those other investments become part of your personal insurance policy.

@Nate Marshall Did you ever start your fund?

@Nate Marshall Wow thank you for this

@Jay Hinrichs thanks Jay. I have one more question though. If that’s the case how should private lending work, because even a hard money lender at %6.5 wants %20 percent up front for a 75K property?

@Jay Hinrichs Thanks so much for breaking this down.

@RH Richards I will. Thank you!

Ok so I am trying to get into real estate investing. Enter Private money lenders. One I am dealing with says the process the loan at %100. But let’s say your loan in is 40K, they give you 45, you take 40 and send them 5K as a fee. Is this legit? Please go easy on me, I’m just trying to get off the ground, but not get scammed.