All Forum Posts by: David Y.

Do you have any family friends, close friends, or past work associates that you have a relationship with that do real estate? Generally, mentors come in the form of friendships. 

Try to add as much value as you can when finding mentors. Successful people rarely have a lot of extra time and you need to make it meaningful and worth their while. 

Hey Daniel, I have never done any private funding myself, but from I've read:

1) I think there are several types of deals you can structure- ones where the investor gets his $ out quickly, others where he keeps his equity in the property(ies), etc. Different types of deals for all different situations. 

In my opinion, it should be a win/win for both parties. If your investor is putting up more capital but you're putting in more sweat/work equity, you can make structure it that way. Read what others have done and find an arrangement that seems fair for all parties involved. 

2) Yes, I would definitely sign a contract when doing private funding. 

Congrats Mandar! I just closed on my first property as well and am going through the same learning process. Best of luck. 

I'm personally just starting out and we (my partner and I) bought our first house last week. It's a 3b/1b SFH in a good neighborhood/area. Overall, it's not really even a 'deal', more a market rate house- we are treating this first house as a learning experience and not really focused on making much money on it at all. The process, getting systems in place, and the overall learning experiences are going to be much more valuable for later on. Good luck with your journey!

I'd imagine that there are partners for every type of deal, situation, financing, and more. You just have to structure it so that it's a win/win and you both are benefiting from it. I would look into going to your local real estate meetup / investment group and seeing what kind of connections you can make there. 

Hi, it's good that you have that much savings at a fairly young age. Like others have said, I think you need to do a lot more reading, research, and education in order to determine what strategy you want to use. Read some of the Bigger Pockets starting out books so that you can get a feel for what you want to do and your overall goals. 

Hi, I am currently researching some lawn care companies in Omaha and was wondering if anyone had any recommendations for companies they like. I am mainly talking about an average sized yard for a 1200 square foot 3 bed SFH in Omaha. Thanks for the help!

Thanks for the help guys!

Hey BP Omaha, I am a new investor that is interested in buying and holding in single family homes and multifamily properties. As we are about to close on our first deal, I was wondering if you guys could tell me what a standard appraisal fee is for a 3 b/1 b 1100 square foot SFH (generally)? What have you guys paid in appraisal fees and do they differ if they are for investment properties or primary residences? Thank you for your time.

Hey Mauricio - I also don't have an official W-2 as I am self employed. I've only rented houses and apartments and have had no issues over the past 5 years. During the application process, I explained my situation to my future landlord and also showed them bank statements with all transactions to and from my account. If you can show a bank account balance with a few months rent in savings (or more), I've found that helps a lot. 

Make sure you give good references from the previous places you have rented at and the contact information.  I would recommend just contacting some places that you want to live at and seeing what the landlords in that area need from you. Good luck.