All Forum Posts by: Lance Bean

@Bobby Shell I just want to shoot for the stars. Your mentor sound very smart. And I’ll take heed to that advice. Being a developer isn’t the end all be all for me. So do you have some advice on how to get into a single apartment complex deal ?

I am looking to grow into commercial real estate as well as developing homes and apartments. I current own 8 rental properties out right, with no loans on them. The properties bring me in a little less than 8 thousand a month in income. How and where do I start at in securing funding, big contractors. To grow to the next step. My dream and goal is to become a developer. And purchase apartment complexes and commercial buildings. Simply put how to I grow from the minor league to the majors?

@Stuart Smith I certainly see your method and 100% agree with you. I say use your method, when one owns 5, 10 or 15 properties out right. Then it’s okay to move on to more expensive properties using bank money and get into flipping or renting and flipping.

@J Scott I realized that after I posted the question lol. New to the abbreviations. Thank you @J Scott

@Mark Swain HELOC?

I currently own 4 single family homes in which 2 is occupied and I also own a duplex. I am working on the third single family home which is almost done. I am running out of capital and I am left with the option to either start working on the duplex or the last single family home. The duplex is really my goal but it will cost more to fix than the single family. What do you guys think I should do? Or do you know of any other ways for me to raise the capital to fix both?