All Forum Posts by: Account Closed

Hi Kristin Hairapetian

I'm new myself so anyone can correct me if I'm off but NOI = Net Operating Income. NOI is your gross income minus operating expenses (not including mortgage payments).

SFH = Single Family Home.

I think the $500 he was referring to is just a rough number for how much income you may get per year after expenses and a mortgage payment.

Thanks Jennifer Lee Has having your license had an impact on you as an investor?

As a new investor, I have been debating getting my RE license to help learn the business. I've read several posts on the forums and see this is a very hot topic on whether or not to do it but I have been finding more pros than cons of being licensed in general. Are there REI limitations that are imposed on you by the broker you work for? I'd be interested in hearing about the experiences that others have been having especially those in the Memphis, TN area.

I've met a couple of them so far either for lunch or at the Memphis Investors Group meeting. I'm looking forward to meeting more in the time to come.

Welcome E Holman . I am also a new investor in the area with similar goals. There are quite a few experienced and helpful investors in our area that you'll meet on these forums.

Thanks Dean. I'll give him a call also.

Thanks Chris. I'll start checking them out.

Does anyone know of a good attorney in the Memphis, TN area for setting up a business entity? Thanks.

Thanks Marco Santarelli. I have called around to a few banks and brokers and have gotten a few ideas that may get it done even if a mortgage loan wouldn't work. I don't have this problem solved yet but I am learning a lot along the way.

I'm new to REI and these forums and looking for my first property(ies). I have found a few in the area that I am interested in, the problem is that the loan is would be too small on any of them individually for the banks I have contacted to finance. Two of the properties are income producing. The first would be around 35k and the second is 20k. The third property I'd like to flip and I could get for just under 15k. Does anyone know of a lender I could use for a blanket loan on all three properties or another option I should look into? One of the properties I may be able to seller finance but the other two will not have that option.

Thanks