All Forum Posts by: Josh Rorie

Thanks!!! Alex Capozzolo

Look into "subject to", "lease option", and tax lien investing as these are good options to get around having no or low money to get started. I'm pretty new to investing as well but I've done a ton of research. As far as banks go there are options there as well but it'll be harder coming from an investor standpoint because they typically have stricter underwriting requirements etc., but shop around. Between credit unions and banks I know there are different loan products available (I mostly use credit unions for my money but have two banks as well) along with other criteria. So you'll have to weight the pros and cons and also realize you may initially have to stay in the property if you use financing. You may also have to do other things like negotiating terms to make a loan product work. For instance, one of my credit unions has a "100% financing" option, but the closing costs are much higher than normal and cannot be rolled into the loan. So if I use that option to buy property without a lot of money to bring to the table, I'd have to do some solid negotiating with the seller to cover that much in closing costs for that loan product to even work for me. A lot is going to depend on your end game with the deal(s) you find. Good luck

I just started building a "driving for dollars" list and am off to a decent start, but I'm not sure of what I should be focusing on while I'm still building the list. Should I be mailing properties immediately or wait until the list reaches a certain point? Should I focus on analyzing the comparable sales in the different areas before even contacting the property owners to determine if it's actually a deal? Should I send a variety of mailings (yellow, postcards etc) or just stick to one in the beginning? Help!!

@Account Closed Much appreciated!! 

I was listining to one of the podcast (can't remember the number) and heard the guest say something to the effect of "you should already have a buyer's list developed before going into a deal as part of your exit strategy". Can anyone provide insight on how should I go about developing this list, and any additional considerations necessary?

Not sure I can agree. Aside from the tax, depreciation, appreciation and cash flow aspects of real estate, there is another big advantage it has over stock investments: leverage. Even if I find a "good deal" on the stock market, I have to pay the price per share X the number of shares I want. If I find a good deal in real estate however, I can put 3.5% or sometimes 0% down and still control an asset worth tens or even hundreds of thousands of dollars; with none of my own money into it. The only time I would say stocks really kick real estate's butt is when you can find a hidden gem in it's initial stages (but the hard part is being able to determine if it's a gem). Buying Google or Amazon level stocks in the early stages for pennies on the dollar are the rare scenarios where stocks are untouchable. 

Excellent and inspiring work!!!

@Tom Ott Thank you for your well wishes

@Lee Marsteller Much appreciated. I actually just started working the numbers for a 4-plex in DC so I'll definitely reach out if I have any questions. Thanks for offering your assistance!

@Anthony Griffin Thank you for that sound advice! I definitely need to refine my real estate vision so I'm not spreading myself thin trying to take on too many different approaches. I'll work on narrowing that down this coming week.

Best wishes