All Forum Posts by: Dylan McCabe

@Todd Dexheimer Thanks for the advice, this is exactly what I plan to do. Learn a ton, partner with someone for my first deal, then allow the snowball to happen. I'm meeting with a guy next week with over 30 years experience doing development and commercial real estate in Dallas. I plan on asking him if I can help do the legwork and get some experience. Then, I hope to find a deal and raise some money. I don't want to do my first deal alone. No need reinvent the wheel and make costly mistakes. Thanks for the tip. I'll read your post.

@Matthew Baltzell Absolutely! I don't plan on coming with no money, just very little of my own. I'm a learner and love figuring out how to make smart deals. But I have friends who would be interested in investing (I've got verbal affirmation at this point) if I take the time to do the legwork. And that's a great tip on exit strategy! So far, it seems many people have had success with buying a class C, fixing it up (forcing value), then selling in 3-5 years for a profit. Thanks for the tip. 

@Keegan M. I am learning about it. It sounds like we both are. I'm in Dallas TX and the situation sounds similar. It's a seller's market. But I know there's always a deal out there. I'm thinking of aiming for class C multi-family properties where the seller is motivated to get out for one reason or another. I'll keep learning about this. Thanks for the tip.

@Julian Hicks I don't know much about the Master Lease method other. I need to research that further. I'm reading a book right now where the author (Brian Murry) suggests that method in certain situations.

@Victor G. I do own a house and have read a couple of books that mention the strategy of a home equity loan to put money down on a multi-family property. Thanks for the tip. 

Have you tried this before? Any tips?

Total newb here but digging in. I am interested in multi family as a means to replace my income. I love my job but want a safety net too. 

I have listened to many podcasts from Michael Blank (among others) about investing with no or low money down. So far, it seems like this is possible as long as you become savvy enough to do a lot of leg work for investors. You have to become skilled enough to find and analyze deals. Then bring them to investors that trust your reputation, knowledge, and skills. Aside from listening to podcasts, reading books on mult-family investing, getting mentors, meeting up with potential partners here in Dallas TX, etc. Is there anything else I can do? The education has begun, and I know I need a lot of time, study, help, and grit. Any tips welcome. I'm 38 and don't want to waste any more time.

@Aaron Beauchamp thanks for the tip!

@Ryan Blake Thanks for the tips! There are so many ways to go with all this. Exciting/confusing at first. But for some reason, I'm drawn to multi-family and commercial opportunities. I'll keep all this in mind as I continue to learn.

@Aaron Beauchamp Thanks, that's very helpful. You are the second person today to mention REIA. I'm trying to learn all I can right now.

I'm considering taking Mark Blanks online course on multifamily investing. Are you familiar with it?

@Aaron Beauchamp Total newbie question here - where do you find wholesalers or wholesale deals? (This is my first day on the BP forum.