All Forum Posts by: Kyle Scofield

@Brian Dayal I know exactly how you feel getting started in real estate. There's so much and it's tough to know where to start. The site is full of beginner guides as well as advanced posts for all levels. Since you want to flip houses, I'd recommend J. Scott's book on flipping houses and book on estimating rehab costs. Excellent start for a flipper.. 

If you have any other questions Brian, feel free to message me.. I think I could be of some help! 

@Carlyn Moore welcome to the site! If you're interested in buy and hold properties.. @Brandon Turner 's "book on rental property investing" is an all-inclusive book for buy and holds. It covers everything you need from start to finish.. and his wife co-wrote the book on managing rental properties which teaches you how to be a trustworthy landlord!

Hope this helps get you started Carlyn, let me know if there's anything else... Welcome to BP

@Toni Garsombke Real estate can definitely be purchased with no money down. you could check out @Brandon Turner 's book on investing with no and low money down. It is a great start for creative financing. 

Otherwise, I would highly recommend having a job. Things can go wrong and you're going to need some type of reserves. Hope this information helped a little, let me know if there's anything else I could do for ya!

@Denise Pauzano These are questions best left to a lawyer I would say. I know there are some here on the site although I can't recall their names off-hand. Each deal and state is different and you don't want to mess around with this stuff! 

@George Wong all depends on your goals.. some people swear by SFH and some swear by multi-family. Both are great investments and have their own respective pros and cons. Each type has it's own set of issues/liabilities/etc. Just depends what you are more comfortable with I would say!

Hope this helps with decision George! Let me know if you have any other questions.

@Andrew Chianese you can hit multiple lists if you have the money for DM. Other lists you could include: probates, code violations, equity lists, tax delinquencies, inheritance lists, drive for dollars and mail these homes... some people hit every door whether it's a person interested in selling their house or not for market saturation.

Hope this helps Andrew! Let me know if you have other questions.

@Joseph Fernandez In my opinion, I would say using a loan is better because you can get more with less (if that makes sense) by using leverage. For example, if houses cost 100k and you had 100k then that could only get you one house. BUT if you use loans, @ 20% down, that could get you up to 5 houses! It all comes down to yourself.. What are your goals and what level of risk are you comfortable with?

Hope this helps a little Joseph! Let me know if there's anything else I could help you with

@Catherine Chege welcome to BP! It's an excellent site with endless resources no matter what your skill level.. Good luck in your new location Catherine! See you around the site :)

@Erik E. this is how I started and it really helps you understand the things to look for.. After doing this for a week or two, you'll easily start to see what's a deal and what is not.. The BP calculators are awesome for getting started and are very easy to use.

Follow the advice Brandon gives out and your knowledge about analyzing deals will get better and better everyday.. Hope this helps! If there's anything else I can help with, let me know.

@Bogdan Masca You could buy a property that turns out to have more problems than you thought when you did your due diligence, there could be liens against the property that you don't know about, the area that you buy could do a lot less appreciation than what you expect (in fact, it could depreciate), CapEx items could be in worse shape than anticipated and could need replacing.... Lastly, buying in the wrong area can have a huge impact on returns.

Hope this helps! If there are any other questions, please let me know.