All Forum Posts by: Dustin Figenscher

Along with these comments, I'd like to add that you should try hard to get a 3-4 unit under contract with that FHA so you can get the best jumpstart to your investing business as you can.

So.. what do you need help with exactly :) John Lee

I agree with Levi T. Set the precedent, jack rents and give them an ultimatum. If you like the idea, do it yourself. Air b&b can be great money. The recent podcast with @Zeona McIntyre is a great review of how well they work. Although more possible wear and tear, the income is greater due to the convenience of the rental. So you just save a bit more for maintenance. At the same time, MOST air b&b users are respectful and can be held accountable by the owner, so I kind of think they tend me last longer and are more respected.

Jacob Graul what are your questions? I would be more than welcome to share my advice/experiences.

Hey folks, I am looking for an experienced real estate broker or agent in the Charlotte, NC area to help my fiancé and I find a great deal for a live-in flip. We are relocating from upstate NY, therefore I want to connect with someone who is patient, and trustworthy to look at properties for us during the transition. Thank you all in advance for your suggestions. Cheers!

Kyle Grimm , I know how it feels. I am currently a commission based (with a small salary) debt collector for government student loan contracts. Although it usually pays well, it is a roller coaster ride and makes it hard to plan my next investment moves while working commission. Aside from my w2 job, I own a fairly successful mobile DJ business that I try to use to supplement my real estate aspirations. My first property is an owner occupied duplex obtained with an FHA, and my second property is a single family purchased conventionally with the ability to put 15% down instead of 20. I bought it for 59, put 5 into it, so I now have a decent amount of equity in it. My next move is to do a home equity line of credit (or loan) and pay off my rehab debt I accrued, and use it on a DP for prop #3. I am choosing a HELOC because I can take out 85% LTV on an investment property whereas all the local banks I've reached out to won't even cash out refi for more than 70-75%. My main objective is to connect with a hard or private money lender to be able to buy cash only deals that have good margins so I can BRRRR my way to financial freedom. Good luck to you!

I don't have much equity in my properties due to my inability to purchase with cash. As you know, the property still has to meet conventional loan standards, therefore I don't have the advantage of purchasing very low like I could with a cash offer on a property that needs extensive rehab. I'm sure the conventionally financeable BRRRR deals are out there, but I had the money and knew it would cash flow so I bought it. Now, I'm out of money until I can save for another year or so for another 20% down payment.. it just isn't going to work for me; I want to hustle! My newest purchase will give me a rough cash out of 9-10k after refinance which will give me enough to pay off my credit cards that were used for rehab costs, and 3k left over. Yah, I am investing in upstate NY. If I can find a lender that has less strict requirements for lending up front, and obtains their cut on the back end of the deal.. that gives me the freedom to find deals with good margins so that I can keep my portfolio moving, and the lenders happy!

Hey guys & gals, Thanks to a spontaneous webinar and a kick in the butt by @brandon turner's advice, I went out and bought my second property. It is a SF 3bd/2bath in a fairly desirable area and conveniently away from my primary residence, so travel to home and Home Depot is a piece of cake! Renovation should be done in two weeks, and rented with roughly $550 cashflow monthly. But that's a conversation for another forum. I am reaching out for advice on how to keep my business rolling and purchasing more properties. My first two property's were purchased the old fashion way with saved funds with an FHA on the first and conventional on the second. But now I'm basically tapped out of funds until I can save again but I don't want to wait a year. This is where I am trying to find a good lead on private or hard money. The larger companies for hard money require large amounts of liquidity by the borrower to be approved, but I know there are plenty of investors out there that have creatively worked with hard and private money at the early stages in real estate investing. I have proven success with my properties and personal management, but not 50k sitting in my bank account. I am just looking for a creative and constructive conversation here so I can get my wheels turning.. have a great weekend, all!

I guess not, Paul Bowers

If she can't afford rent, then she isn't hiring an attorney for more than what her security deposit is worth.