All Forum Posts by: Jake S.

Hey Maurice!

You could just start one via BP (obviously) for new to intermediate level investors. Could be something small time at a coffee shop. Networking with those at your level and those a bit above, is definitely a must do!

1. Networking reasons and relationship building, along with learning

2. Learn something new, possibly form a network

3. The people and if I vibe with them good to be honest

Hey Aj!

A couple of things after digging into this. I like that you set aside a higher amount of repairs/cap ex. What is the area like? Crime rates? Vacancy rates?

A quick glance at the property and it's listing, along with checking rent-o-meter, for an 1100 sq ft home in the area, a 3 bed looks like itd get anywhere from $800-$925/mo in rent. Where did you find the $1k?

Have you looked at comps in the area for both price and rent?

Besides that, I think I would budget aside a bit more in the beginning for repairs because you just never know with flipped properties.

I would chat with a realtor about this and also consult with a local property manager to verify your numbers

Rather see you be very conservative with rents at first and be spot on with everything

Besides that, if everything checks out with the area and rent, go for it!

@Ryan Francis Contact @Tim Swierczek for anything mortgage related, he is great!

Money set aside really depends. If you have people willing to fund the down payment and you guys split the equity, then you dont need much $$ at all.

There are other strategies for no money down as well if you pick up BP's book on no money down investing

Otherwise for 2-4 units, youll likely need 25% down plus reserves and set aside some for necessary fixes as well.

Hey @Ryan Francis Welcome to BP! There are a ton of good podcasts that specialize in 1-4 unit investing. Great to listen to while driving.

Good luck on your ventures!

Ill try to make it Jordan! Currently am syndicating a large apt complex in WI

@David Taylor Great to have you here! Send me a message and let's connect. Always looking to grow my network and discuss RE investing!!

@William S. I use LOC's to buy properties in cash and to later refinance into a traditional mortgage with

I went and made a list of 10 local banks and credit unions (not big name banks), sat and spoke with them and let them know my needs and what their LOC terms were against rentals.

After speaking with 10+ banks and credit unions locally, I found 2 credit unions that gave stellar terms and were more than willing to provide a large LOC against my rentals.

I am now using LOC's for capital for my Apartment Building Investing, to go in and make capital repairs to improve the property, and then refinance when I can. It makes both me and my investors a great return

Hi Jackie! Just wanted to drop a comment in and make a connection! I have been an active investor in this area for the past couple of years and have had good success. I have not been to any meet ups either, but I know it'd be a good thing to start doing. Just don't know which ones!!

Going to send you a message, love growing networks!

All the best!

@Christine C. PMing you now

@Ritch Bonisa PMing you as well :) Thanks a bunch everyone!

@Luther Wilson III Just sent ya a message!