All Forum Posts by: Evan Alexakos

Hello,

As the title says, I have found some properties that look to work in terms of cashflow and rate of return but I've never actually purchased a property before. The math works out online and tenants already live in these buildings so I know they are liveable; that said, I have not visited the homes or made contact with the sellers. 

How do I go about starting the process of buying a property?

How do I get pre-qualified for a mortgage?

How do I get official approval for a mortgage? (Can I use the estimated cash flow of the house as proof of income for mortgage applications?)

One property said they would consider seller-financing to a buyer, do I contact the seller and ask?

Thank you for any replies.

I'd join one or I would be happy to create a discord!

Hello,

I'm a newer investor who wants to start off in wholesaling or "contracting" properties to generate enough cash to start my career in rental properties. I'd appreciate any answers to the following questions:

If I'd prefer making a commission rather than buying and selling the property myself, should I find a buyer willing to work with me or a seller who is in distress?

What protections can I put in place to make sure that I make commission? 

How can I find investors in my area?

If there's any other advice for wholesaling that you can share, I would deeply appreciate it. 

Thanks in advance, Evan.

Hello everyone,

I remember reading in Brandon Turner's book that some people hunt deals for real-estate investors and was wondering if I could do so as practice for spotting deals (and a way to raise money for down-payment). The assumption is that I'd only get paid if the house gets sold and, while I would try to find a good deal, the responsibility of it being "good" would lie with the buyer analyzing the house themselves. 

Is this a feasible idea?

Any other creative ways to raise funds?

 Hey Jose,

I can't lie and say that I know the best ways to leverage money; however, I don't think credit cards are the best solution due to the amount that you'd need for real-estate, the potential high interest rate, and possibly ruining your credit. All that said, I would highly recommend getting more opinions on ways to get the money needed for a 20% down payment.

Hey Zak, thanks for the insight. Right now, I'm not at that stage of life but in the future, I'll take advantage of that knowledge. 

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 Crystal, I'll follow these steps religiously on my journey to the first property. The insight into networking and marketing myself to others is beneficial to any future success in real-estate (as well as life); I'll add networking to my research agenda and thank you for educating me! 

 Honesty is the best policy Bruce, always thankful of somebody telling the blunt-faced truth. As a bonus, you gave me the insight to research construction! I'll be sure to do my due diligence so that I can avoid the pitfalls in which other investors have failed. 

Would you have any advice on resources about construction?