All Forum Posts by: Account Closed

Hello, would like some advice on direction to take in my first purchase.

Background: 

I'm debt free, renting a apt, 2,000 in savings with a full time job. Not married , no kids so very flexible. 

No prior experience in real estate

Goal:

Buying a multi or apartment complex 

Is it necessary to go to a lender and find out exactly how much I can borrow, to give me a idea of what I can do ? 

Thank you for your input  

 Hello everyone, been on the site for about a week and trying ingest the mountain of info from this great site and came up with a few questions:

1) Is there a way of practicing with the due diligence numbers such as NOI, cap rates etc. ( question arises from ask Bens book 13 steps to valuing your first multiplex) I wouldn't think real life places I wanted to consider buying would allocate such info.

2) Allot of posts include shortened terms which I don't understand such as ltv, helock etc is there a general list ? 

Apologize for longer post and thank you in advance 

Jared  

@Craig Wilcox thank you for posting! The how to guides are great, a wealth of info here! 

@Andre Davis thank you very much for taking the time to post, I will definitely look at these ! 

lol, thanks Rafael, I will be sure to check out the nw Bp out . On my screen my face is upright, maybe it has to look sideways to look straight for others. Thanks again 

Hi, my name is Jared a brand new investor , and just wanted to say hello to everyone. I'm in the suburb of Schaumburg Illinois, outside of Chicago. As of now I'm in the reading / planning phase , and trying to get started on buying a multihome. What I'm looking for is help in my area. I thank everyone for there contributions to the site which makes it easier for beginners like me. 

Thanks everyone 

Jared