All Forum Posts by: John Nicholas

Thank you for the insight,  I am currently in the market for an apartment complex and will heed your warning moving forward 

 Thanks for the  info,  did you use them to purchase properties? if so how do they perform.

Thanks 

I will try to make it to the meetup

I am looking for a broker/agent that has there ear to the ground and knows the markets to help me invest in the right properties/locations to accomplish my goals.  

My current goal is to invest in the next 3-6 months to produce approx 3-5k in cash flow per month. The properties that I would be looking for have the following criteria .   

-Under market value

-10 cap or better

-In rentable shape

-In decent areas A, B or C

-In areas and homes that will appreciate in value

- Duplex or larger 

I know that the criteria is what most new investors are looking for but I am hoping that these are attainable.

Ideally I would like to meet someone with boots on the ground and a great network of people like attorneys, contractors, property management companies Etc... 

I live in Southern California and would like to find a good affordable location out of state to start my investing venture.  I would like to find some good solid and low risk investments that will maximize the returns on the capital I have.   Not looking for a lipstick pigs....

This would hopefully be a beneficial relationship for both parties.

Thanks 

Have a good one  

Con-Grates Nice to see success stories.

 Great info,  Thank you for the explaining that, i was unsure of the process..

Have a good one 

 Thanks Manolo,

I am not sure i understand the risk?   I could pay cash but figured put enough down to qualify with out a PG.  if something went wrong I could just pay the balance off.  just thought that might help build it with out the PG.

 Thanks for the encouragement Steve,  

Sounds like you have a great portfolio of assets, I am really surprised that the bank still requires a PG. Have you been able to HELOC any of the equity from your assets to fund new assets?

Have a good one 

Wondering if this strategy would help. I currently have cash to buy some properties but am try to figure out the best way to start to develop credit for a new LLC. First would a lender fund a new LLC if they put 70 to 80% down?

My thought is to purchase a few homes, putting down as much as I have to get get any type of loan for a news LLC, then pay down the small balance over time to build a credit history so I can eventually get a loan with 25% down or HLOC the paid homes to get in to additional properties?

Any thought or idea's if this is possible would be appreciated.

Thanks 

Thanks to all on the reply's and warnings.  It was a bit hard to follow with the hijackings of the thread.