All Forum Posts by: Logan Lambert

Hi Everyone,

I've been saving up and now have over $150k in liquid funds. I'm looking to get into the BRRR (Buy, Rehab, Rent, Refinance, Repeat) strategy but want to build a strong team and could use some guidance. Any tips or advice would be greatly appreciated!

Hello!

I am 24 years old and I just moved to the Lakeview area in Chicago, IL. 

I've recently become interested in the idea of Real Estate Investing for a few reasons. I have two friends who own rental properties and they are successful with their properties, I read Rich Dad Poor Dad twice along with Rental Property Investing and Power of Habit, I've been told by multiple people apart of the Baby Boomer and Generation X that they wish they invested in Real Estate at my age, I was a Resident Advisor at my University and I enjoyed that role so some of the skills are transferrable, and lastly this is the best time for me to take a risk. I don't have any debt and I don't have kids or much going on outside of my 9-5 career. 

I NEED all of the help and support that I can get to take action and make it happen. I'm not one to take risks but I feel I am capable of becoming a Real Estate Investor as long as I do my due diligence. I'm reading up on books and articles on how to do this but sometimes it's easier to join social groups or talk to people close to me that have done it before.

Right now my goal is to get pre-approved for a loan and to learn from others. Once that has been done I'd like to purchase a property walking distance from myself so I can keep an eye on the property and because I don't have a car. I plan to manage this property myself, manage the finances, manage the tenet forms and etc all by myself so I can learn how to do everything right away when I'm first starting. My biggest fear or weaknesses will be trusting lenders, trusting Real Estate Agents, and trusting contractors. I believe I can do a good job as a Landlord once I have tenants and when I'm up and running. Hoping to accomplish this in the next 3-months. 

Hoping to connect with those who have done this before! Much appreciated!

-Mitchell Petrosky

We are in the process of getting another DSCR loan. What do you all think are the pro's and con's of a 5 yr ppp in the mid 5% range vs 3 yr ppp in the mid 6% range. I'm getting mixed signals about paying pts from lenders and I'm genuinely interested in hearing some of the logic behind which is best for this loan that we are about to do. Just for some info, we have to do DSCR loans at this point in our life and we will not be selling in the next 5 years. I personally don't see a problem paying a couple of extra pts for a 1% reduction in the loan but some people I know are very adamant that we shouldn't be paying pts at this time in the game. Any thoughts?

Hi All. First post. First investment property. 

Just getting my financial house in order and talking to some lenders. 

Most of them are quoting me: 
An origination fee - $2500

A processing fee - $1000

An Underwriting fee - $1000

Some misc. fee ("Admin") - $500

The numbers change, but ultimately the bottom line is just for the loan, it's $4700-$5500 in fees. 

Is this normal for this type of loan? I assume so since that's what everyone is quoting me. 

I appreciate the help. 

Hello to the BiggerPockets community. I'm Karl Szymanski from Pittsburgh PA and I am new to real estate investing. I have owned my own homes in CA and in PA. I am looking to get started with real estate investing right now. Any place in the US would work. I am thinking I would like to start with a duplex/triplex/quadplex but I am open to your suggestions.

I really enjoy making money and have been in technical sales for more than 30 years. I have a BS in Electrical Engineering from the University of Arizona and spent 4 years in the military prior to that. I was married for 31 years but lost my wife to cancer in August of 2024. I enjoy getting together with people with similar interests for dinner or even just coffee.

I am excited to see what I can do with this new endeavor and excited to meet new and interesting real estate investment colleagues.

Hey everyone we are excited to join the Bigger Pockets Forums. My wife and I have completed 3 rehabs, and are working on our fourth. We have turned two of the rehabs into long term rentals. We are primarily looking for Single Family Homes in need of rehab. We would love to connect with Real Estate agents, Investors/Financing, and Contractors to build out our team.

We are located in NE Kansas and primarily are working in the Kansas City, Topeka, Saint Joseph, areas.