All Forum Posts by: Darrion P.
Darrion P. has started 5 posts and replied 41 times.
Post: Ashcroft capital: Additional 20% capital call
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
That "Know Like & Trust" factor is heavy here! @Brian Burke provides a good blueprint of what should be considered. Especially the "all LP's must participate" language.
Best Wishes to LP's involved.
Post: Arbor Realty Trust - Slumdog Milionaires?
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Certainly unfortunate for the tenants and LP's involved. Additionally, the forth coming destress has yet to peak. CRE has some troubled waters ahead. thanks for sharing.
Post: Thorough Atlanta Home Inspector Recommendations
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Same Day Inspection. Same Day Report. Call Quality Control Property Inspections. 678-902-5313 www.qcpillc.com
Post: Lending for (small) multi-family. What are your requirements? | Location: Missouri
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
My apologies. Renovation. Details sent.
Post: Lending for (small) multi-family. What are your requirements? | Location: Missouri
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Property: 2-4 units
Construction budget is up to what % of purchase price?
Allowed % of seller concessions?
Post: If I can't househack, what would be my next best option as a first time investor?
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Quote from @Jason Na:
Quote from @Darrion P.:
Not surprised that HOA doesn't allow it. Have you considered being a limited partner (LP) in a syndication. Typically the minimal investment is 50k.
Post: If I can't househack, what would be my next best option as a first time investor?
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Not surprised that HOA doesn't allow it. Have you considered being a limited partner (LP) in a syndication. Typically the minimal investment is 50k.
Post: Who is investing in their own physical health?
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Your Health Is Truly All You Possess.
Guard It With Your Life.
Post: Is multi-family house the right starting point for first home buyer?
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Quote from @Hansel Gunawan:
Hey, my name is Hansel.
I'm looking to buy my first ever property for investment so I can achieve financial freedom sooner in my life!
Many articles/youtube videos/posts said that Multi-Family property is the right thing to do to build my empire. Is that true?
If so, which city/area should I start looking? I live in California right now where the price is insanely expensive! I don't mind looking in other states too.
If not, what is the better strategy for first time home buyer like me? BRRRR? House hacking?
Please, I need guidance on where to start!
Hansel,
Multi family, 2-4 units are one of many proven ways to become a real estate investor, create passive income, and build wealth. Many of us have accomplished this task, most beginning with a house hack. Location matters, why? Because the rent of the units must cover the mortgage of the building. Consider the price of a 2 family flat for example: price 400k, that mortgage @ about 7% interest rate will be about 2200-2600 p/m. The question you must ask is will the rent of the other unit cover the mortgage. If you qualify for a FHA loan your down payment (3.5%) will be less than if you decide to BRRRR (non-owner occupied - 20%). You may also want to check with a local mortgage broker for 1st time home buyers programs. I know here in Georgia, they vary by county. I applaud you for taking the most important step - that is making the decision to take action! Here's a few more tips that may also be helpful.
To Your Success!
Post: Intro & looking to connect!
- Investor
- Atlanta, Ga
- Posts 43
- Votes 26
Hello Markus, Welcome to BP. I'm sure you'll do well building your email list and sending out deals. Add me to the list. I hope you're considering a 2-4 unit for your 1st property. A house hack would certainly be a great way to start. Here's a few tips to get started: https://www.vantagereal.estate...
To Your Success.