All Forum Posts by: Grant Greene

William:

Good afternoon, and welcome to BP! As you start this new endeavor, I would HIGHLY recommend sitting down with a mortgage/financial professional (there's no charge) and sharing with him your short- AND long-term goals in REI. When you do that, he'll be able to help you construct a plan that will achieve your short-term goals that will result in proceeds and resources that will help you pursue and achieve your long-term goals - it's all one master plan. Many investors start off "too hot" by either overdeveloping their first property or spending their money too fast - either of these behaviors will sink your ship quick and disable you from even achieving your short-term goals. Game over.

If you don't have a mortgage/financial pro, I would recommend approaching a handful of investors who have been successful (for more than just 12-18 months) and asking them for a referral to their "money" guy. I wish you the very best!

Grant

Josef:

Good afternoon, and welcome to BP! As you start this new endeavor, I would HIGHLY recommend sitting down with a mortgage/financial professional (there's no charge) and sharing with him your short- AND long-term goals in REI. When you do that, he'll be able to help you construct a plan that will achieve your short-term goals that will result in proceeds and resources that will help you pursue and achieve your long-term goals - it's all one master plan. Many investors start off "too hot" by either overdeveloping their first property or spending their money too fast - either of these behaviors will sink your ship quick and disable you from even achieving your short-term goals. Game over.

If you don't have a mortgage/financial pro, I would recommend approaching a handful of investors who have been successful (for more than just 12-18 months) and asking them for a referral to their "money" guy. I wish you the very best!

Grant

Aya:

Good afternoon, and welcome to BP! As you start this new endeavor, I would HIGHLY recommend sitting down with a mortgage/financial professional (there's no charge) and sharing with him your short- AND long-term goals in REI. When you do that, he'll be able to help you construct a plan that will achieve your short-term goals that will result in proceeds and resources that will help you pursue and achieve your long-term goals - it's all one master plan. Many investors start off "too hot" by either overdeveloping their first property or spending their money too fast - either of these behaviors will sink your ship quick and disable you from even achieving your short-term goals. Game over.

If you don't have a mortgage/financial pro, I would recommend approaching a handful of investors who have been successful (for more than just 12-18 months) and asking them for a referral to their "money" guy. I wish you the very best!

Grant

Matthew:

Good afternoon, and welcome to BP! As you start this new endeavor, I would HIGHLY recommend sitting down with a mortgage/financial professional (there's no charge) and sharing with him your short- AND long-term goals in REI. When you do that, he'll be able to help you construct a plan that will achieve your short-term goals that will result in proceeds and resources that will help you pursue and achieve your long-term goals - it's all one master plan. Many investors start off "too hot" by either overdeveloping their first property or spending their money too fast - either of these behaviors will sink your ship quick and disable you from even achieving your short-term goals. Game over.

If you don't have a mortgage/financial pro, I would recommend approaching a handful of investors who have been successful (for more than just 12-18 months) and asking them for a referral to their "money" guy. I wish you the very best!

Grant

Graham:

Good afternoon, and welcome to BP! As you start this new endeavor, I would HIGHLY recommend sitting down with a mortgage/financial professional (there's no charge) and sharing with him your short- AND long-term goals in REI. When you do that, he'll be able to help you construct a plan that will achieve your short-term goals that will result in proceeds and resources that will help you pursue and achieve your long-term goals - it's all one master plan. Many investors start off "too hot" by either overdeveloping their first property or spending their money too fast - either of these behaviors will sink your ship quick and disable you from even achieving your short-term goals. Game over.

If you don't have a mortgage/financial pro, I would recommend approaching a handful of investors who have been successful (for more than just 12-18 months) and asking them for a referral to their "money" guy.  I wish you the very best!

Grant

Jen:

Good morning, and welcome to BP! I'll offer this piece of advice:

First thing you'll want to do is meet with a mortgage/financial professional and share with her your short- AND long-term goals. She'll be able to help you construct a plan that will enable you to reach your short-term goals and reap the benefits you'll need to have the resources available to pursue and achieve your long-term goals - it needs to be one master plan. Many investors start off "too hot" and either overdevelop their first property or spend their money too fast - either of these behaviors will shut you down, and you won't even be able to fully realize your short-term goals.

If you don't know a mortgage/financial professional (they don't charge for consulting), reach out to a handful of investors who have been successful (for more than 12-24 months) and ask them for a referral to their "money" person.

I wish you the very best!

Grant Greene

Calvin:

Good morning, and welcome to BP!  I'll offer this piece of advice:

First thing you'll want to do is meet with a mortgage/financial professional and share with him your short- AND long-term goals.  He'll be able to help you construct a plan that will enable you to reach your short-term goals and reap the benefits you'll need to have the resources available to pursue and achieve your long-term goals - it needs to be one master plan. Many investors start off "too hot" and either overdevelop their first property or spend their money too fast - either of these behaviors will shut you down, and you won't even be able to fully realize your short-term goals.  

If you don't know a mortgage/financial professional (they don't charge for consulting), reach out to a handful of investors who have been successful (for more than 12-24 months) and ask them for a referral to their "money guy".  

I wish you the very best!

Grant Greene

Moises:

Good evening, and welcome to BP! As you start this new endeavor, I would highly recommend sitting down with a mortgage/financial professional to come up with a plan to help you achieve your short-term goals that will give you the proceeds and resources to pursue and achieve your long-term goals. Many new investors start off "too hot" and end up overdeveloping their first property or spending their money too fast - either of these behaviors will preclude you from achieving even your short-term goals and may knock you out of the game. If you don't have a mortgage/financial pro, I would recommend connecting with a number of investors who have been successful (for more than 12 months) and asking them for a referral to their money person.

I wish you the very best!

Grant

Jonathan:

Good evening, and welcome to BP! This may or may not go along with your plan, but I thought I'd give you some food for thought: it's very possible for you to get an FHA loan (if your VA eligibility isn't currently an option) on a multi-unit property with only 3.5% down - that 3.5% can be gifted, and the closing costs can be gifted, too. The only stipulation is that you have to live in one of the units in that multi-unit property for 12 months. If that's something you could consider, you would be able to get a loan on an investment property with a 3.5% down payment instead of something significantly higher (15 to 20%). Also, the limit on a four-unit property is $521,250 for an FHA loan. After living in one of the units for 12 months, you could bring in a fourth renter and buy yourself an SFR and have a property with positive cash flow.

Just a thought - wanted to let you know there are A LOT of options out there for smart, motivated investors like yourself.

Grant 

Jacob:

Good afternoon, and welcome to BP! As you start this new endeavor, I would highly recommend sitting down with a mortgage/financial professional to come up with a plan to help you achieve your short-term goals that will give you the proceeds and resources to pursue and achieve your long-term goals. Many new investors start off "too hot" and end up overdeveloping their first property or spending their money too fast - either of these behaviors will preclude you from achieving even your short-term goals and may knock you out of the game. If you don't have a mortgage/financial pro, I would recommend connecting with a number of investors who have been successful (for more than 12 months) and asking them for a referral to their money person.

I wish you the very best!

Grant