All Forum Posts by: Jeremy Hunter

I know some people on the commercial side can force appreciation on the properties, to be able to pull out that equity to leverage for other purposes. 

Check out the local credit unions for better rates. I know I am looking at Hawaii Federal Credit Union for opening up a secured line of credit. From a lot of what I have heard  local credit unions are going to have better rates than bigger banks. Funny enough I have Navy Federal Credit Union and they don't do personal lines of credit, which sets me back a little. I am not sure what is the best for your area in regards to has better rates for you, but that is my two cents. 

Hey welcome to BP!

From the sounds of it you like numbers and commercial is alot about numbers. What kind of venture are you looking to build?  I am currently feeling my way into the mixed use -retail/apt arena that seems to be something that has really taken off in the suburbs and smaller cities. It takes a team to build up good solid commercial deals. So definitely keep in touch. 

Congrats on finally pulling the trigger as they say! Welcome to BP and keep us updated on how things go for your project!!

Hey Welcome to BP!! There is already a good amount of advice that people have given. The only thing I can say is if you are looking for a place here for what you have you are probably going to need to look outside of Honolulu for a townhome or condo that will work. Or get creative with a For Sale By Owner property and see if they will finance a certain amount while you put down a certain amount. This way you are using OPM for half the purchase. Remember OPM - other people's money is always the best way to finance something as an beginning investor.

I have a buddy who has 8 properties currently with another 10 offers being negotiated using creative methods like seller finance. This method really works. Okay enough of my soap box, hope this helped! 
Happy Investing!!

I am not a lawyer, but I would say that have that put into an operating agreement drawn up by the lawyer. It is about outlining the duties of each partner. The profit share should probably be put into the agreement as well. 

At the end though consult a real estate attorney for they will be able to give you the best advice. 

Let me know what happens! 

Happy Investing

Research what all the different aspects of Real Estate Investing are about and what you think would work for you. Find your investor identity if you will. There are so many things to do in real estate that once you find what interests you make a plan to do that. 

Another piece of advice is make your self useful to someone who is doing what interests you the most. Find out their strategies and see how well they will work for you. This is a piece of advice I am in the middle of implementing myself.  Just be aware that if you have to pay to be mentored by a person you are going to get what you pay for.  Not all paid mentor group is alike and not all groups will work out. Now the pro to some of these groups is the network of money that they have to be able to do deals. So again be wise in this decision.

Good to see you here on Bigger Pockets learn everything you can here and I hope that it helps you find what you want to do with real estate.

Hey there John!

There several options that you can find here on BP for creative financing for buy and hold. For example Owner Financing, which is a great way to acquire a second property. The thing you want to be aware of is how the deal is structured with the owner, because they may want you to pay up after a certain amount of time and if your not ready bad things happen.

Another way is using your IRA or Self Directed IRA. That is money that would just go back into your IRA and build that back up again on its own.

I am working on using a Personal Line of Credit to build up to be able to use as a down payment on a deal that I am looking to pick up here on BP.  Done responsibly this would work for you as well. 

Look up house hacking tricks here on BP and learn how more about mortgages. 

Also network with property managers in your area because they will have leads and suggestions on rent and properties that you could possibly acquire.

These are just some of the tips I have taken to heart myself. Let me know what your thoughts are.

Honestly wholesaling is one of better ways to get started in the investing realm. There you can start practicing the more creative ways to buy homes and get connected with the bigger investors. Bird dogging is similar to wholesaling and is also a different way into getting started.  In all reality it is going to help you establish a network that you can utilize that will help you as you grow in the business. There are investing groups that still wholesale and invest in the rehab part as well. Sometimes when looking at a property it might not feel like a money maker to you but it might work better for someone else to take on. That is why wholesaling can work for you even as an investor.