All Forum Posts by: Frank Eimiller

Run comps with recently sold(s) in the area... What are people buying and how much are they buying it for? Try calling other wholesalers and partnering on deals they cannot move-- if you have good buyers it's a win/win/win!

Hey hey, welcome to the biggest of pockets!

Here in the midwest, the same loan officers who are offering traditional FHA financing seem to be offering a "Wheda" plan Essentially it's a secondary loan that you have to put down on your mortgage The "Wheda" program to my understanding counts other rents as 100% income (Traditionally i think it's 75% or so) The advantage to this loan package is that you will not be paying PMI "Wheda" requires a 5% down payment and the secondary loan is for 3% of that 5, so essentially you get into a piece of property for 2% +\- out of pocket This was just explained to me this week, I am by no means an expect-- seems like it could be a good gig for owner occupants starting out!

That's a nice little piece of information that for some reason I didn't know, Thanks Phil haha

Hello BiggerPockets family-- I hope everyone's enjoying the weekend!

I've logged on today to ask a very specific question: How can I work for A broker, on a pure commission basis, without a real estate license? 

Currently I work full-time as an architect and I want to start a side hustle aside from "passive" real estate investing.

What are some tasks, ideas, ways to service a brokerage as an unlicensed real estate enthusiast?

Welcome to BiggerPockets

Get it!!

Welcome  to BiggerPockets! 

Originally posted by @David Greene:

@Frank Eimiller  any reason why you can't buy both?

 The plan IS to buy both :D

I'm currently working to put together my first deal(s,) 

The deal is a 160k duplex that was just foreclosed on

Talking to lenders tomorrow to try and get this one put together-- for 117k 

The other potential deal is the duplex directly to the left side of it which is owned by my broker friend, that one will be seller financed by him and then refinanced into long  term fixed financing 

My only "hurdle" was time. I've spent the last 10 months listening to podcasts, reading books, and talking to other investors.. Although I don't consider this a hurdle as now i'm very confident in what actions to take as I feel I truly have a handle on how real estate investing/deal analysis works! 

Hope my post helps at least a little!