All Forum Posts by: Kris Laku

As a fairly new investor, I've explored multiple options in real estate and have decided to pursue trying to build a rental portfolio through private/hard money. 

What methods have investors used to scale their business through this type of investing? Is this something that somebody who is newer can pursue?

Thanks for all the help!

@Matt Buroni

I may be wrong in some things as I’m still trying to educate myself on the topic. The way I understand it is if I can find the right people, which includes private and hard money, I can put a lot of leg work into finding deals then have others do the majority of the funding. I’d definitely like to look into conventional loans on top of it, but from what i’ve seen using OPM (other peoples money) is a good way to go in terms of scaling quicker rather than waiting to get conventional loans.

The point i’m at makes it a lot easier to dedicate time into finding deals and networking to find lenders. I’m working full time at 19 but spend considerable hours after my job to digest as much info as possible, and try to network as much as I can.

@Matt Buroni MBA

I’m definitely interested in multi-family. As far as owner/non-owner occupied i’m not sure as to which i’d lean more toward. I really started researching hard/private money for the scalability aspect of it, that’s what really gets me interested.

Hey BP members! I’ve had a few questions on the route i’m looking to take in terms of real estate investing.

I’ve been into real estate and have been in the learning phase for a while but i’ve been taking more action recently in looking for deals and getting deep into networking. I’m trying to take the private and hard money approach to real estate, as the idea of being able to leverage and build a network around you of like minded investors peaks my interest the most. The different ideas of creative financing are all so interesting to me, and hearing how people are doing it makes me want to get out there!

When it comes to private and hard money, should I have an LLC before I try to lock down my first deal? I have some people around me who have real estate knowledge tell me that i'm not quite there yet, but if I have to be prepared to go down the path I want to go down, I have no issues forming an LLC if it'll get me that one step closer.

How should I structure contracts with lenders in order to keep it fair for all parties involved? Are there specific things I should know in terms of long term investments, and even short term like flips, that I should know before trying to put something together?

If anyone has advice on taking this approach at this point and time i’d love any input. I know this is a different approach compared to maybe saving money over time to invest or, even something wholesaling or flipping. But to me it’s been the thing thats got me to take the most action and even put myself out here on places like BP.

Finally, I live in Litchfield country in CT, so if any investors (new or seasoned), would like to reach out please do as I always love talking and networking.

Thanks for any and all advice!

@Zoie Holley

Awesome to see us young people taking initiative and trying to set ourselves up for the future. I’m sure there are plenty more people with more credibility with their advice so take what I say with a grain of salt (or not, it’s up to you really). I think what you want to do is awesome, what i’ve come to realize is you’ll never really know enough. Keep reading more and more, and if you’d like to get a property at the same time, just make sure you have a good system of people to bounce ideas off of and you understand what you’re buying. In the short time i’ve been on Bigger Pockets, with the couple posts I have, the info i’ve gotten is invaluable.

If you’d like to network further please reach out and connect! We seem to be in similar spots so i’d gladly bounce ideas off each other!

@Kunal Mishra

Definitely a great option for me, i’ve been working on finding deals and really analyzing my markets so i’m definitely going to make something out of it soon!

Thanks for the advice it’s much appreciated!

@Tucker Cummings

Straight to the point and no BS, I can’t agree more. I’ve definitely been looking for deals, despite it being kinda hard in my current market. I definitely do have to work on getting the pre- approval and a good agent.

Thanks for the advice!

@Luciano A.

I can't begin to describe how support like that makes me feel. Thank you so much and best of luck to you as well!

@Brandon Rush

The grind never stops i’m working hard day to day to achieve my goals, and I can feel that first deal coming soon! Thanks for the kind words and I look forward to the next time we meet!

@Joseph Guzzardi Jr

For sure thanks for the advice. A big this for everyone is money when it comes to investing, I believe my focus on networking to raise capitol will help me out but I still need to work on getting a clear goal and direction. Thank you again!