All Forum Posts by: Justin Cortez

@Clark Kirkpatrick thank you for the reply, that makes more since! I have some good resources for private lenders, and I can always pull a heloc on my primary residence to go in and rehab so it’s not just the lenders money at stake. I’ll definitely look into reading that book as well!

Okay so I have practice analyzed and practiced the movements to buying real estate. I plan on using private money or hard money,

1.how does the process go when contacting a lender from beginning to end (real examples)?

2.what are the pros and cons of both?

3.what do you do once you obtain a piece of real estate and your not able to refund the lender with they’re initial investment plus the interest?

4.How long do you have before you have to pay them back?

Thank you so much everybody that have responded to this! Everybodys post in here definitely helps and I will take all the advice I can get. You all have helped me get a better grasp on my journey and I hope some of the new investors are able to find this thread and use this to help them in they’re journey!

@Benjamin Parker welcome friend! i'm out of texas as well. and like you I am new to the whole thing, but I have don't a lot of research on strategies and learning the ins and outs of everything that I can! like you, I drive OTR as well and it is definitely a hassle trying to find the time to do face to face meet ups. the best thing that I could tell you is do your research on everything that you can, there are tons of strategies that work great for REI. there are a few different ways to house hack, but in simple terms it is exactly what you had stated in your first post. the one bad thing about that for the every day people is they have to live with the tenants right across the door from them. it would be ideal for us OTR because your not home every day but then again you'll have to have a handy man on your team to help you out and not screw you when your away from home. I've got a few post on my page, I don't know if Michigan is like texas, but people have posted some really helpful tips on the post for beginners! feel free to check them out. sorry I didnt have a whole lot to help on your topic post, but i'll follow this post since were wearin the same boots.

good luck!

as a beginner, I feel like I have done extensive research on strategies that I would like to use, the pros and cons of those strategies. but haven't really looked into who you would consider to have on your team to help you out. as of right now I have a good friend of mine that is an agent in the area. And I am in the process of getting the number to his attorney that helps him in real estate, and I know I need to seek a good CPA that is familiar with the REIs. I haven't really looked into under writing and I probably should. does anyone have any advice on who else I could put on a team to better help out. 

@Ron Flatt thank you for the advice, if I am ever in the area I will definitely let you know! what strategies are you currently using to acquire properties and what is your routine before knowing which properties to go after?

@Account Closed @Andy Mirza @Ron S., I really appreciate all of the advice you all have given me. it has opened my eyes up to a whole new world of the sub2. I hope that others that are interested in looking into a sub2 find this post and read everything in it, as it is all really good information. 

with that being said I would still like to explore the option of doing sub2. and I was wondering (1.)what kind of exit strategies you should have in line? being a newbie, of course I don't have the capital to just pay a loan off if it where to get called due, or accelerated. (2.)when you get into a sub2 what documentation or forms do you need? (3.)who would you have on your team to help you in a sub2.?  I definitely need expand my knowledge on some of the terms and literature you all have posted. 

i'm sorry I haven't showed my appreciation to you all sooner, there is no excuse, I have just been sitting back and reading comments from you all as they come in. trying to think of the right questions to ask. or what questions I could ask. and I still feel like i'm not even close to scratching the surface on the sub2. strategy. again I thank you all for posting on here and giving me both sides of the deal.

thank you,

Justin Cortez

as a beginner, I feel like I have done extensive research on strategies that I would like to use, the pros and cons of those strategies. but haven't really looked into who you would consider to have on your team to help you out. as of right now I have a good friend of mine that is an agent in the area. And I am in the process of getting the number to his attorney that helps him in real estate, and I know I need to seek a good CPA that is familiar with the REIs. I haven't really looked into under writing and I probably should. does anyone have any advice on what else I could be missing or should be seeking out? 

newbie here trying to gain as much knowledge as I can. so if a home is in pre foreclosure, what are some strategies you can approach it with? what are questions you could ask the owner of the property? what is the best way to help them out and help your self out by positioning your self to buy a pre foreclosure? i have found great deals, but im not sure on where to even get started after finding the deals when it comes to staying in compliance with the state/county laws. preferrably i would like to have a solution for the home owner and myself before it gets close to the auction steps. 

thank you,

Justin Cortez

J&S Property Investments LLC.