All Forum Posts by: Kai Kopsch

please, just because it's a seller-financed deal people considering even an upside-down deal? Run..! 

@Tyler Benotti welcome to BP; you found the right place to start on your real estate investment carrier! What steps can one take to become a successful real estate investor?

-As a Realtor, you're already in a good position to work with/for investors in your area out of their transaction; you can build a small team, lenders, inspectors contractors and use your commission to fund deals with partners.

-Build up your financial foundation (Fico score). Get Credit Cards to pay off every month, never carry balances, and request every 6 month a CL increase. Open Business Bank accounts and later business lines of credit.

-Gain practical experience by securing a job within the real estate industry. Apprenticeship remains an excellent method for learning and growing in this field.

By following these steps, you can set yourself on the path toward becoming a successful real estate investor.

When it comes to properties in a multiple-offer situation, every little detail counts. To give your offer an edge, consider having your agent include the fact that your lender has already conducted pre-underwriting and thoroughly verified all sources of income. Moreover, the lender is even willing to make a phone call to confirm this information. This approach can give your offer priority over others that only provide a more traditional pre-approval letter. By demonstrating the extra level of preparation and commitment, you increase the chances of standing out among competing offers and positioning yourself as a strong and reliable buyer.

@Emily Peters as already said, there is no market cool-off in the Charleston, SC, area in the near future. But hard work will pay off; if you are delicate just an hour a day looking for a possible property, you will eventually have success. If the right property comes your way, be prepared to have financing, including pre-underwriting ready. Get familiar with the SC agreement to buy and sell Form 310, asked all questions you have now, and ask your realtor to have the contract already pre-written so you can make an offer in minutes. 

@Renee Williams Business credit cards are not just to build credit a great tool to save some money on average, 1.5% to 2% on some categories, up to 5% on business travel 10% plus sign-up bonuses. Chase & AMEX and NavFed are the best to start with; stay away from capital one they report to your private credit history.

@Jehu Matthews welcome to BP; you found the right place to start on your real estate investment carrier! $O down loans are for your residence SFH or duplex triplex; nearly all other investment properties require 20% down. The greater Charlotte Metro is a great market, and you have no problems finding a qualified tenant; most important is to find your team, Lender, Realtor inspector contractors, and property manager. Your first few deals are more like a learning curve than a home run. The most important is to do a deal don't lose money; take your experience and the team you build in the first deal and do the second, and so on. In Germany, we have a saying: Lehrjahre sind keine Herrenjahre. We've all got to start small

For new to-acquire properties, rental contracts,s, and history age of all essential things like HVAG, water heater roof, and appliances. Afterward, do a walk-thru with a Property-Assessment-Form. If you like to create your own form I can send you my form.

@Lorien Rollins empty with all appliances is the easiest & fastest way to rent your property in Denver, NC. The rents in our area are lower than the property prices; all my new leases go with a 12 Month terms and then month-to-month, so I can raise the rent in the second year if the rent market supports this.  In LTR you will have fewer problems if utilities are paid by the tangents.

If you market your rentals and ask prospective tenants to fill out credit/employment/ criminal background checks first could be very likely a Fair Housing violation! At 25 inquiries, I would do a Rental Open House and give everyone the same chance to apply. 

Congrats on our first post on BP; the response rate varies from sending postcards or letters, handwritten or typed. And what to include in your letter depends on the situation the property is in. Yellowletters dot com has some examples. Before sending letters, it's essential to get the fundamentals right. Almost 98% of people trying to wholesale property never even make one deal. Successful wholesalers spend $10K+ monthly on marketing, have intimate knowledge of property values in their geographical area, and understand real estate law, foreclosure, financing, marketing, investing, and operations.