All Forum Posts by: Jeremy Hunter

Starting out it is important that when you start networking that you find a way to help those who are doing one or the other.  For example I have a connection that has done a number of flips and now wants to get into rentals more.  So I part of my focus is finding a deal or opportunity for them that meets their criteria.  It is also important to already be learning more about financial services and techniques that help you with your credit and cash flow.  One of the things with this business is that you may not get cash right away so having something initially that can help you build your RE business is a good idea.  

You can find many blogs and other forum threads that talk about when you should leave the JOB field for being a full time investor and such.  Look at them and think about your goals short term and long to help you decide which would work out better for you.  Building any business requires you to be focused on a specific goal which may force you to make some sacrifices in your personal life.  

Maybe work for a flipper or a buy and hold investor see what you like and then that way you have practical experience. My personal goal is to own some multi family and some other commercial spaces that cash flow. As well as help others in their journey with real estate and business. Many people end up doing a bit of this and a bit of that to make their mark.  

Do what you are comfortable risk wise bottom line. 

Do it under an LLC that way risk can be mitigated and you can not lose your pants in the case of a situation. Look up how to structure limited partnerships entities or LLCs that can be structured to the way you want it. I know that there have been several blogs and threads here that cover this. It is possible to also transfer it from your name to the entity afterwards wards if you do not get it done before hand. Good luck on your project!

You might need private money to tear down if all you had was the money to put down for the hard money.  Which is one way to do it and possibly the easiest really.  Or do all private money from two or three sources with the option for one person to refi and keep the property as a rental,  while the other person(s) get their returns.  

If you have a good relationship with a HML who you can convince to add more to the loan for the teardown that could be an option.

I would look at who you know or the local reia to find a partner that could help fund what you cannot on this project. That way the returns are all split in the partnership and not with a HML. Nothing against folks who are HML of course. Or look around here on BP for partners ! Keep it simple!

Happy Holidays! 

Hey Justin,  I sent you a invite to connect!  Congrats on the 11th project! Looking forward to working with you! 

Remember to keep the margins good for the money person - if your wholesaling it or yourself- I know i keep having issues with low ball offers in a hot Market where people are paying over list price, so i have to keep in mind the margins and when to walk away. Other than that i have seen how having the right relationships with people will get those deals at where you want them at a discount. Anyway my 2 cents! Hope the offer gets accepted!

I think that if you were able to build a team or hire VAs and investor friendly agents then virtual wwholesaling is not impossible. You are going to want to msake sure that you do hustle in the right ways to make it work. Be apart of someones team that is already working the markets you are looking at, or close to where you want to invest.  That way ypu can build up the lead flow and learn the market and steps someone else is doing. Do enough for them and work hard and build your rep up and network up and it should work out for you. If you want to wholesale. That is definitely the area i am working right now and i am doing it virtually, so it is possible. Hustle and educating ypurself on the area you want to work is critical first steps.

Welcome to BP! Continue to work with folks here as and in your area, educate yourself and be of value and deals will come! Good luck!

I believe the option at this point would be lease option. There are investors or buyers that will go for that option and it could also provide some cash flow for you.

I would suggest a 3 orb4 unit property which you can probably get with renters in it and cash flow right away even if it needed some work. The BRRR strategy is one that a lot of folks here have done and worked out for them. The big key factor is buying right no matter what type of property you look at. The source of the where you find the property does not have to much of a factor if you know what will work for your goals. Another point is that a FHA /VA loan will cover up to the 4plex with specific criteria that you have to at least live I it for a certain amount of time - generally a year is the standard. When it comes to cash vs loan they both have pros and if you leverage a property right debt can work for you.

Hope that helps!

Hey Elliott,

Welcome to the Bigger Pockets! Looking  forward  to  connecting with you and  networking  with you!