All Forum Posts by: Lassy G.

@Kim Davis

Hello Kim. People who don’t know you would want to see that you are a successful real estate investor before giving you their money. They want to have the assurance that they will one day get their money back with the interest you’ve agreed on. So Other People Money is not that easy to get like we think. This is not to say that is impossible.

Here are some much “easie” ways to get Other People Money:

1. Relatives (father, mother, brothers and sisters)

2. Extended family (uncle, aunts, cousins etc)

3. Closest friends

Don’t assume that they will give you their money easily. You will have to work hard and deserve their trust and maybe their money one day.

@Nir Goldberg

Hi Nir. Great ambition. Please reach out to @Adam Gollatz. Adam is a great realtor with a lot of knowledge regarding investing in Milwaukee, the city and the neighborhoods.

Cheers

@Tobias S. Hi Tobias and welcome to BP. It is possible to invest in the US being a foreigner. You will need to think about

1. your strategy. Flip, buy and hold, duplex, sfr etc

2. your market. Where do you want to invest

3. Entry level depending on your budget.

4. find a team of professionals that can help you succeed. Real estate is a team sport. It will not be easy if your plan is to do it alone.

You will need to setup an LLC.

This is very brief. Hopefully it can help you start. If you have questions the BP community is very helpful. Just ask.

@Joshua Tan

I am an out of state investor and I have been working with @Adam Gollatz. He is a good realtor. Reach out to him. He has helped me acquire some properties.

This is the problem I am having right now. I bought a duplex that needs to be renovated. I have contacted over 7 contractors. Three came to visit the property. Out of these three only only one sent me a quote. I never heard from the rest.
@Marcus Auerbach . My duplex is located in Milwaukee. Any contractorS you might recommend?

Any help is greatly appreciated

@Matt Moylan . I am in Matt. It sounds great 👍🏾

Happy 2020 to you all. I just bought my first duplex in Milwaukee. I am new in the area. I indent to use the BRRRR method. It needs some rehab work like new kitchen, bathroom, floor, paint etc. Can someone recommend good, reliable contractors? Any help will be appreciated.

@Israel Ron

Narrow your market down by taking into account your budget. As you said you have $100k. From that you know that investing in major cities will not be possible.

Determine your market by considering these:

1. Population growth

2. Job opportunity and growth

3. Avoid cities where job is provided by one or two major companies

These will help you determine your area. After that get in touch with investors who invest in the area. REIA can be a great place to build relationship with other investors. Don't expect to only take. Give and expect nothing in return. You will get more than you think. Hopefully these will be helpful. Good luck

@Margaret Buoncora. It is nice that you already had a fee in mind. $3000 is very generous. A good friend will be happy with anything. As far as I am concerned 1% to show your gratitude in this case will be more than enough. But you decide what you do. It's up to you. Please keep me updated. I am curious. 

@Margaret Buoncora. This is not any easy question to answer and realy depend if it is someone you know like a friend or a family member. Most of the time a friend or family member do this just because they want to help you. You can give them whatever you like. But be careful not to hurt they feelings. As you said: the deals are really good. So be generous. Give them something they really like and will enjoy having or doing.

If it is someone you don't know. They generally don't breng you deals just because they want to see you succeed. They want a piece of the pie. So it will be great if you give them a small percentage of the deal and still keep the deal interesting for you, and encourage them to breng you more deals in the future and so helping you grow your business. For this type of persons, if they are new in bringing deals they might ask you a small fee. However for the ones who are used to bring deals, they already have a fee in mind. So be careful to not lose them. Just ask them about the amount and negotiate on the fee if you find that the fee is too high.