All Forum Posts by: Devon Preyer

Hello, I am looking to deploy maybe 50-$60k while keeping the rest in reserves. I plan to only lend on cosmetic rehabs similar to the live in flip I did cause I feel i have some experience there. I hope to get at least 10% ROI, which in during my research seems like the lower end in this market, depending on the project and the borrower im thinking 60% LTV would be the edge of my risk tolerance.

I also invest in stocks and crowdfunding platforms, just don't have the time or drive to do another  flip or manage a rehab.

 Hello, Thank you for your input i would love to get on a call I will PM you. 

Hello Everyone,

My wife and I recently finished our first live in flip and, thanks to covid, where able to walk away with a little over 100k in profit. We relocated back to the bay area with family and decided to both go back for our masters. We decided we wanted to move away from buying real estate and focus on school but still want to keep our money moving and growing. I decided that private lending would be a good way to grow our wealth while also limiting our time spent in a business. 

I am currently working my way through "lend to live"and have a few questions,

1. Is private lending good passive income that someone can do on the side?

2. is it a good idea in my case to take the risk in todays market?

3. anyone know any good real estate attorneys in the bay area?

@Nathan Perry hey Nathan welcome! I’m in the same boat as you I only have my primary residence and I’m looking to hopefully use the equity from it to propel myself into a few multi families in the near future!

BP is a great place to start man! Thank you for your service and good luck on your investing journey!

@Yvonne Ng hello and good luck on your journey! As someone who grew up In Stockton my best advice is to be careful where you buy some of the nicest areas are the most dangerous. By university of the pacific are some really nice areas with bad ones surrounding it. I am also looking into Tucson as well so if you have any advice about the area I’d love to hear.Feel free to pm me if you want!

@Ryan Nastase hello, do you mind if I PM you as well? I am also looking to invest in Tucson and would love to learn what you have in mind.

Hello, @Joseph Myers I’m currently looking for properties in AZ specifically in the Tucson area I’d love to get you take on investing there as well as how your property has been doing!

@Joseph Greer hello, I am currently looking to invest OOS in the arizona area not sure exactly where at the moment. Can I PM you and pick your brains about the areas?

@Julian Rivera and sorry I didn't answer the rest of your question. It is currently my primary home, once I get rid of the PMI I hope to rent it out and move on to buying multifamily properties!

@Julian Rivera

yeah even with conventional loans if you don't put down 20% u have PMI but when you exceed 20% by either paying down your loan, forced appreciation, or by any other means your PMI falls off, though I believe you still have to refinance and get an appraisal. As I said I'm still pretty new so anyone feel free to correct me if I'm wrong!

But I’m also super scared about investing out of state but I’m looking in areas where I know people I trust to help Atleast look out for the property lol. I would love to keep in touch and maybe pick your brain in regards to what you have learned so far and how things are going! Feel free to PM me!