All Forum Posts by: Swat Khan

Kurt, welcome to BP! Sounds like you can get advice from family. That will be a big plus. Good luck.

I was wondering if anyone is doing this strategy right now? Calling banks with distressed assets and navigating their way through to speak with asset managers for NPN's and REO? Lots of people say it doesn't work but I would like to know if anyone has experience implementing this strategy in today's market? Especially in commercial Multi-family.

Thanks for sharing. These are excellent. #2 and #9 alone will drastically change your life.

The worst things that can happen depends on the asset type (Multi, SFR, MHP, etc) But in a general sense a few aspects are overpaying, letting repairs get out of control, buying into D locations, losing control of your management, letting contractors milk you, going too long on a rehab timeline. But if you buy right and maintain control of management and contractors, you will have most of the game covered. A Multi-unit property in C locations could go south in as little as 3 months if not managed properly. But overall the pluses outweigh the negatives in real estate especially when buying and managing right. Many success stories of wealth built from real estate - you will find a lot of those stories right here on BP.

Have you looked into FHA with a minimum 3.5% down program?

Sounds like you plan on living in one? If that's the case that is a great way to start. If I were to do it all over again I would've bit the bullet and bought a 4-unit in Long Beach that we had in contract as my starter. We had to pass on it due to repairs and my wife wasn't too interested in the idea of living next to tenants. If you can stretch yourself, you should start with a 4-unit, live in one and rent out the other 3. Getting 3 checks will quickly be more exciting than just one check. Good luck.

Helen Hall welcome to BP! Lots of great educational material here. Good luck.

Welcome to BP Ryan!

We are working with Quest IRA out of Houston, TX. They have offices in Dallas and Austin. They are open to working win investors. I am currently opening up my own account so I can test the various ways of using my own self-directed IRA account to invest. This way I could advise our clients through experience. Good luck!

Aaron, welcome to the forums!