All Forum Posts by: John Mathew

Hey Victoria! I know buying a rental property can be as exciting as buying your own home, but that doesn’t mean that you should rush before you have done proper research. Though you don’t need to be an expert in real estate investments or even in real estate, you have to do your homework properly. Start answering some simple questions to determine the best investment property for you:

What kind of investment property do you want to buy? If it’s your first time buying a rental property, start small and simple. Look for an apartment, a duplex, or a small apartment building. Buying a large income property sounds tempting because of the expected higher profits, but it is also more costly and will require more work. Remember to not overwhelm yourself by starting bigger than you can manage or afford. Real estate investing is to a large extent learning-by-doing. After you have learnt the basics of it and have started making profit, you can think about expanding your rental property business by either replacing your first rental property with a bigger one or buying a second investment property.

Hello Alecia! I have jot down top financing menthods used for BRRR. Hope this helps :)

Banks Loans:

Bank loans are the most common financier of BRRR transactions, and this is where you traditionally go when you want to buy a real estate property with an existing mortgage.

Hard Money Lenders:

A hard money lender is a private lending institution that provides real estate loans with certain terms and conditions, which may include requiring the borrower to put up collateral in order to protect their investment. 

Rental Loan:

A rental loan is a mortgage or home equity line of credit that has been written to help finance the purchase, renovation, and renting out of the real estate property.

Single Close Loan:

A single close loan is a type of hard money lender that provides the borrower with all funds needed for purchase, renovation, and renting out in one lump sum.

Private Money:

This option usually requires less work on the borrower’s part when it comes to paperwork because they are borrowing money with personal connections

Home Equity Line:

A home equity line allows people who have good credit scores and assets in their homes use their existing property as collateral for funds needed for renovation or buyout purposes.

Home Equity Loan:

The interest rates may be higher than single close mortgages but they’re less expensive over time because homeowners don’t need to worry about refinancing again once they’ve paid down significant amounts on their mortgage balance.

Hello Rene! I would suggest you to try out Stessa, the tool allows landlords to accept rental payments online, track expenses, and generate performance reports. Stessa’s intuitive interface makes it easy to use for anyone, even for those who aren’t especially tech-savvy. Stessa’s rent collection feature lets real estate investors automate typically manual parts of rent collection, including depositing checks, charging late fees, and monitoring payments for financial reporting. Stessa imposes no fees for either landlords or tenants to use online rent collection, and it offers strong security measures to protect both parties’ personal and financial information.

Wow! Hats off Nicholas.

I would suggest that you look for a Real Estate Mentor

Before many successful real estate agents came successful mentors. Real estate is an industry where finding a great mentor can really slingshot a career. You can not only get to learn the ropes, but You can also get to practice the habits of success, draw on years of experience, make new connections, maybe get a referral or two, and witness the power of a great real estate company culture once you grow older. 

Good luck on your real estate endeavors!

Hello Juan!

The most concise answer is that you need someone who could help you. Most restate professionals have been through the process of buying and selling homes so they know more. They have insights and advice that can point you in the right direction. These professionals are also authorized to negotiate and carry out the sale of real property on your behalf.

The purpose of a Realtor is to help you find your perfect home with as few hiccups as possible. Whether that’s searching an extensive list of for sale properties or negotiating a great deal with the seller, your Realtor is there to spearhead the overall process on your behalf.

Hope this helps! Have a nice day.

Hey Jacob, maybe you can try to build up your network .Get to know everyone that you can locally. Build up a large network so as many people know about your efforts as possible. Your network may include real estate agents , investors and other professionals.
You can source potential leads in many different ways, including accessing the Multiple Listing Service (MLS), the internet, signs around town, through foreclosure auctions and trustee sales, real estate events and asking around in the community. Think like motivated sellers. If you were motivated to sell, who would you approach? Where would you go in your community? Hope this helps you. Have a great day!

Hello Alecia! I would suggest House hacking. It is a modern lifestyle choice that borrows heavily from old-school ways and has been reimagined with the help of modern home-sharing platforms. House hacking is a way to reduce living expenses temporarily, or it can be considered the beginning of a career as a real estate investor. Either way, with the high cost of housing, it’s a method for using an asset you already have to afford their lifestyle, put money into savings or buy even more real estate investment property, all while building home equity. Hope this helps :D

Hello Billy, I do think that your decision would be a great  a way to entice the widest range of applicants. Because those who rent often don’t have a lot of furniture and appliances of their own, they are seeking places that can supply them.This is especially applicable in a college student market or for young, single professionals. Applicants that aren’t willing to buy or rent things like refrigerators and dishwashers will automatically pass over any advertised rental properties that don’t come with the desired appliances.

Landlords who want to cast the widest net possible for good applicants and stable tenants often supply some or all appliances in their rentals. Another reason why this is a great decision is that you might want to consider supplying appliances is because of the competition. If comparable rental properties in the neighborhood are providing appliances and another landlord is not, applicants will most likely turn to the competition because they see they are getting more for their money.

Hey Benjamin, To find prospects you could also check the newspaper. Auctions for the city or county are often published in the legal notices section. Some areas even issue special publications with foreclosure listings. Real estate agents often keep a tight eye on certain neighborhoods, so if you know an agent in an area you desire, you may ask for a heads up about new foreclosures.

Hello Ryan! The first step is to identify a company that will help you set up your self-directed account. Do you want to build your wealth? Here at republic investment we help you grow your passive income through real estate. We work with Self Directed IRAs and other sources to help find the ideal investment for you.