All Forum Posts by: Dimitrios Iliou

@Kyla Floyd thank you for asking that question.

I am actually on a similar situation with the only difference I don’t have more than 4% for the downpayment. I found a good deal but I am not sure I ll be able to finance it.

I thought of using hard money, but for a first time investor, I don’t think I have a lot of room for error given that I lack actual experience and the interest rate is going to be high. Also, the numbers won’t work if I don’t give a 20% downpayment.

Is there any other way to finance a deal?

@Danielle Hildebrand

I was wondering the same thing. I also get a hit or miss feeling sometimes when I use it. Usually the results are accurate but sometimes they seem a bit off.

The other day I did some analysis on my own before using rentometer, and the difference between the current available comps and the rentometer results were off by $300.

Having said that, I have not been using it for long so I cannot say with certainty if it’s worth buying the pro version.

It’s great reading all of the above posts and the different perspectives in this.

I think I am noticing a similar downturn in my area (Natick, MA). I have been watching the market for a few months try to find a deal but did not find any (matching my criteria at least). Nevertheless, I did notice that over the last 2-3 months, there is an increase in supply and a lot of foreclosures in my and surrounding areas. Prices are still high but there is some correction going on from what I can tell using realtor websites.

@J Mort

I talked with a real-estate lawyer about this at some point, and they told me that if you try to transfer the title to an LLC the lender might call the entire loan due.

Having said that, I don’t have any personal experience with this and don’t know for sure, so I would recommend talking to a lawyer about this.

@Dan K. , @Andrew Syrios, @DJ Richmond, @Dmitriy Fomichenko Thank you for the warm welcome and the advice!

Hello all! This is my first post in BP and I am very happy to be here!

My name is Dimitris Iliou, and I am a newbie in real estate investing. I am a software Engineer in Natick, MA, and I recently became interested in real estate investing after reading the Rich Dad Poor Dad book (as did many others I suppose). A friend of mine introduced me to BP recently, and since then I have been listening to podcasts, watching webinars and trying to learn as much as I can!

My goal is to start investing in small multi-family homes (buy & hold) and I am currently looking to connect with people in the Natick, MA area and see if there are any opportunities there. I do find the Boston area to be very expensive for a newbie so I would really love to hear people's thoughts on that.

Looking forward to talking with you all and learning from your advice!