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All Forum Posts by: Erik Hatch

Erik Hatch has started 3 posts and replied 314 times.

Post: Suggestions needed. New to investing.

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

Sarina,

I think a common answer you will get is to look to your friends and family first. But more importantly, do you have a good deal? What does that deal look like?

Post: Newer buy and hold investor. Is now a good time to invest?

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

Emanuel HELOC and home equity line of credit are the same. I'm in the western suburbs part time. Prices are starting to drop. For me, I'm waiting for deals to appear.

Post: Real Estate Markets (where to invest)

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

Here is my top list 

Jacksonville 

Charlotte

Raleigh

Houston

DFW

Post: 5 Questions you would ask a millionaire

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

Respect their time. Make a meeting worth their time. Buy them a drink, or a lunch. Donate to a charity they like. I personally would delete the email. But if I'm in front of someone and they are seeking help and willing to put in effort, I'm going to help.

Post: Do you think Multi Family, a safe enough investment right now?

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

We are practicing patience. No hurry here.

Post: Investing in Grand Rapids Area

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

Marco I have previously looked Grand Rapids. Biggest thing I looked at was employment and job providers. If you are scouting that area, I’d say the closer you are to the employers the better. 

Post: Joint Venture (JV) LOI

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

I don’t think you would want to do that without an operating agreement of sorts. 

Post: Bank owned property not on the mls

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

I started by making a relationship with two bankers in my area. We started meeting for breakfast and went from there. I met them through my commercial real estate broker.

Post: Seller asking for Proof of Funds or Pre-approval letter?

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

Yes it’s fairly normal 

Post: Virtual assistant to analyze deals

Erik HatchPosted
  • Rental Property Investor
  • USA
  • Posts 325
  • Votes 222

@Jonathan Farber I don’t like it either. I take a first pass and then let a broker or mentor/colleague vet with me. Even my lenders are more than happy to help review- for free.