All Forum Posts by: James G.

Different countries have different laws and different regulations. Why not laser focus on investing in the United States, and use your cash flow to travel the world? There's no need to own property in Europe and South America when you can AirBNB them or stay in a hotel.

Just a side note. In my experience, giving a tenant a discount in rent in return for a service (mowing the lawn) has never ended well for me. Tenant's have told me that they did the job when they really didn't, the tenant thinks less rent is owed than what actually is, etc etc. I just hire the professionals to do the maintenance work, and have the tenants to pay rent and that's it. I would consider this for the next tenant that you have in your duplex.

The refinance money is debt. You do not have to pay taxes on this

@Hayden Wright this is why finding the deal AND finding the capital is important to do simultaneously. Next time you find a good deal that is worth pursuing, you will have the resources needed to close on the deal. For right now, I would get all the information that you can on the deal, and start pitching it to everyone you know. I wouldn't recommend using Earnest money to lock up the deal at this time.

There are plenty of lenders in my market that will do a fix and flip loan at 70-75% ARV, no money down from the borrower. With numbers like this, you should be able to acquire this deal for less money than what you are planning, just my opinion. I would rather keep that money in my bank account as reserves in case something went wrong.

Seller financing is a very powerful tool. No need for the bank, and it allows you to potentially purchase properties with less money down. There aren't really any cons if you purchase the right property at the right price; except if the seller and you have a disagreement down the road, I suppose a lawsuit could take place... However, this is the case with every real estate transaction.

Hi Jesus, I would reccomend a resource city-data.com. You are going to want to look at crime, population growth, job growth, job diversity, and income to rent ratios. After you look at these metrics, you are going to want to reach out to a broker and a property manager in the market. Build a relationship with them, and ask questions about the market- maybe even ask them to give you a tour of some of thier properties. You'll want to ultimately know the ins and out of your market. Being specific about this will help you know when you come accross a good deal.

Try a more local bank or a portfolio lender. I used to run across this problem quite a bit, but when one lender said no to me, I would just call the next one until someone said yes. Keep searching until you find one, or build a relationship with a good lending broker. 

Learn about investing in rental properties. 

Certainly different. Underwriting my deals more conservatively, stress testing the deal (increasing cap rate by 1-2 points, making sure the deal still pencils out at 65% economic occupancy, etc.), having ample reserves (6 months-1 year), etc. There are still deals out there, but I am assuming that Covid-19 is still an issue a year from now. Maybe I'm wrong, but it's better to be prepared.