All Forum Posts by: Eliott Elias

Start building connections with REALTORS, they are usually the eyes and ears of your market and can be a powerful resource. I would also start attending local RE meetups, you may run into brokers or investors who have close relationships to them. 

It depends on the type of deal you are looking at. Banks usually don't finance flips because the homes are usually in pretty beat up condition and won't appraise. If you take on one flip at a time and have the means for it I like to use cash and avoid expensive money. Otherwise hard money would be a go to.

I would leverage that cash and put down payments on as many rentals as I can. Depends on your market of course 

Your'e going to have to hire expensive help to scale, especially when you are looking to hire CPA's and attorneys. The good ones pay themselves off 10x over 

Depends on your investment strategy. If your'e aiming for cashflow go with multifamily, it' more of a headache than SF but produces better cash flow. 

You should ask for the lender's REO department or asset management department when you contact the lender

 Set daily non-negotiable tasks.

These are mine: read 20 min, submit 5 offers, watch one BP podcast

I would reach out to a hard money lender or private money lender and pitch the project. Tell them what it's going to cost, and what its going to be worth once the project is completed. 

The BRRRR method could be a very powerful strategy. But it is flawed in that it depends so heavily on the appraisal. To be safe I feel like you would need to purchase the property at around 65% LTV to be confident the loan the bank gives you at 75% covers what you put in to it. Which brings me to my next point, it's pretty rare to come across a deal 65% all in. Might as well be a flipper without the headache of dealing with the bank. Just my 2 cents

Condos will generally kill your cash flow with the HOA you pay. One pro is there is always a market for condos, young professionals are leaning more towards purchasing condos because of their price points and general vicinity within Austin. However, they don't appreciate as well as single family homes do, your budget will go up considerably to buy a SFR but its a safer investment.