All Forum Posts by: Kohl Crump

RELOC, remember you reset you amortization period if you perform a Refi.

Hey, Hopefully, the title produced a high CTR.

I'm here because I'm 18 and want to get into Real Estate INVESTING I've been learning about 2 years now and started wholesaling. I bought Grant Cardones Multi-family course a while ago and even talked with a few 300 door + investors in my area providing value. The thing is when you provide value all you get is information in return no capital to initially start or anything which is what I need as of now. I've been debating on what I should do next and I've created a list below, hopefully someone here can make a post on additional options I should choose

1. Use Leverage for Leverage (extremely risky). Thought about using Business Credit as the money down on a PML/HML. They're ways both won't need a personal guarantee. [this is based on research and can be debunked]

2. [OPM] Seems like the best option for me

3. Continue Wholesaling. The competition in my area is competitive but I've hit a few deals of craigslist

4. [House Hacking] I want to start house hacking because using so little cash to control a 300k+ asset can provide massive returns. But the problem is I don't have 2yrs + of stable income. I've been thinking about doing something in sales because you're paid based on how you produce and not hourly.

5. I've heard rumors of Credit Unions Financing 100% [ if anyone can provide a source of more information please do]

IMO I would refi back to the 30yr. If you are a new investor with no cash for another deal saving more capital for the next wouldn't be so bad.

Hey Tanner, I'm 18 years old and on the same path as you are. When fear come there is always opportunity; When considering a type of financing see if you can do a HardML, or do a fha 203k loan where you will also have money for renovation cost on these distressed properties. Add some addendum verbiage or get rid of contingencies when sending your offer so you can get rid of all the flippers. When building a team make sure that you agent/broker has a portfolio most know nothing about investing and learning all the metrics. Approach all the brokerages asking for their best agents to work with also! Most agents know contractors and everything is just word of mouth from that point.