All Forum Posts by: Mike G.

@Matt Grubb Ill have to explore the 203k loan in greater detail. Nice work on finding and negotiating that property. 

@Cherin Watanabe thanks for the great detailed description comparing both companies. Im looking for a line of credit to invest in another small multifamily property. Have you (since your post) had anyone contact you that has successfully used F&G or the other company? Im curious to see reviews on this company. 

@Victoria Elazigue  I know of a 4 plex that looks like a solid 6 cap here in town. Everything else is about a 4-5 cap that ive noticed. You should shop around I know some loan products that you can get for 15% for a rental, but 20% is typically the norm unless your can. How much do you have to invest in a rental property? I know of some VRBOs here as well. 

@Account Closed very nice that you got that and YES you have the right attitude. RE investing isnt a race its a marathon. So start slow, get some books on negotiating and reading people and beef up your people vetting skills so that way you know when your dealing with someone if they are real or real POS. 

Go to local real estate meet ups and get to know some people and dont tell them that you have that money and see who is genuine to partner with and help you learn and grow without expecting much in return other than some sweat equity. 

Just go slow and learn there are many ways to skin a cat in this game but you have to choose 1 way and get really good at it and that process takes time, things dont happen over night. 

Best of luck to you!!

@David Zheng excellent work man!! how did you acquire all those properties? they were not all conventional loans, did you utilize a variety of creative finance strategies 

@Brandon Penn congrats man that is a huge goal that you achieved and conquered. I would love to learn how you did it in more detail and chat to gain some traction 

wait. . . . .did someone say the real estate market is heading for a recession? 

Time to sell off my properties and open up a Amazon drop shipping business making 10k a month from home!!! LMAO

@Whitney Grogan-Purry 

Are you going to move here and live in the 4th unit? A house hack of sorts!! thats great, What kind of loan are you using and if your using a agent make sure you have a good one. If you need referrals I or anything I can assist as im boots on the ground here and know the market well. Do your due diligence as well. . . . . .

@Cody Godfrey  absolutely and your most welcome. The reality is in this case is that your fear about a large institutional buyer coming in that is willing to pay full rip is going to snag it up. That is the really challenging part about landing a park these days. If you feel like its worth the majority of your focus then ok, but personally I would move on. Your way to far off in price. 

@Jay Hinrichs 

yes it is beautiful here and I will tone it down a bit, Ive been the victim of a scam before so the subject matter hits a little close to home if you know what I mean so perhaps my comments were a bit on the emotionally charged side. I think I may get out to do some hiking in red rock this week.