All Forum Posts by: Gregory Lamarre

@Devin 

@Devin Mann Glad you found success. I'm currently in the same boat you were in last year. I'm a fairly new agent in Miami Florida, and I'm having a tough time generating leads. I have been cold calling for the last two months and have been coming up empty. I'm concurrently running Facebook ads and have been getting more feedback from that over cold calling. I'm using RedX as my cold calling platform. 98% of the numbers are either wrong numbers or no one answers. I'm considering using a different approach, such as the one suggested by others in this thread, namely hosting open houses. 

Which platform did you eventually find success in? Was it MOJO? Hope to come back in a year or less and give a positive testimonial about my new found success. 

I'm looking to refi my current fha on a condo I now live in into a conventional. I then plan on using the fha to purchase a sfh as my primary residence and rent out the condo. Any advice?

@Thomas Franklin, Thank you for your insight. You intuitively answered some key questions. Most investors often tell their success stories, but they rarely talk about this one important step: forming an entity. I mean I understand how to form a corporation. I have done it a couple of times, but how do you apply it in terms of real estate investing? For instance, how does a brand new corporation approach a bank or a lender to finance a potential great deal? Or do you have to build its credit just like you would for a person. Those may sound like silly questions to more seasoned investors but I'm interested in learning a little bit more about. Thanks for any advice on the matter. 

@Jeff F. That's great that you are actually "house hacking". I wouldn't mind purchasing a MF needing repairs. I know I can handle most of the repairs myself and for the ones I can't handle I can easily find someone to take care of them. I forgot to mention that I bought my condo, my primary home, using an FHA loan. I would have to refi into a conventional loan in order to use the options you mentioned. The only challenge is finding a duplex in a fairly safe neighborhood, not so much for my safety but for that of my girlfriend. I work 24 hours, and sometimes 48 hrs, at my primary job.

So far most of the MF's on the market I've been able to locate are in less than ideal neighborhoods. If I were single I wouldn't care but I have to consider her safety for when I'm gone. Now you mentioned something about not worrying about the final price. Can you explain? Thanks for your input.

I live in sunny (and expensive) Miami, Florida. I have a relatively well paying and steady job, and a credit score on the better side of 760. I've owned a comfy 2 bedroom condo for the last six years but I've been toying with the idea of moving into a single home and rent out my current condo. Researching the market I calculated my current condo has roughly between 25-35k in equity, and that's being conservative. 

I can easily clear about $400 monthly in gross income. My girlfriend of 6 years is in on a different strategy I just decided on. I've decided to instead purchase a duplex or triplex, move into one of the units while renting the other(s), and while again renting out my condo. We could potentially live for free while socking away a majority of both of our incomes in order to afford a far better home. 

However the multifamily market here in South Florida can get expensive. The average tag price on  2/2 duplexes in a decent part of town is easily in the upwards of $380k.

Questions: what strategy can we use to carry out this venture? Can anyone recommend a creative financing firm or individual who can help guide me through this? 

Thanks 

I decided a few months ago that I wanted to delve into real estate investing. I even went out and obtained a sales agent license (although not a necessary step, but I mention it to give an idea of my level of understanding of the real estate market).

I read through and through on the steps to get started, and following these steps I gauge myself to be at the point where I should form a business. I understand that I also have to establish credit for that business.

My question is just about how long does it take before one can actively start hunting for deals following "the steps"?

hi... my name is Gregory. I go by Greg. I have been interested in getting into real estate for somesome years now. I do my fair share of educating myself on the topic. 

I earn a living as a firefighter, but as of lately I have decided to convert my firefighter salary as my discretioary income second to real estate investing. 

My short term goal is to acquire a rental property generating positive cash flow. Long term goal is to acquire enough properties to sustain my lifestyle upon retirement from firefighting, which is just 10 short years away.

Please help.