All Forum Posts by: Luke Capozzoli

Here’s my situation;

1)I’m a Bartender, can’t get traditional lending

2) came across an opportunity to get 2 properties via seller financing for $200k with tenants in place, but being rented way below market. I would immediately up the rent and aim for about $1000 cash flow per month after mortgage is paid.

3) seller has not paid off the homes so a wrap around mortgage would be in place

4) I have enough capital for the 20% down payment but will require me to pull out about $10k from my Roth IRA

5) concerned about my ability to refinance with a bank later

My motivated spirit and desire to get into real estate tell me to go for it.

The inherent risks involved with this situation as well as the penalty for pulling from my Roth tell me to hold off.

Any guidance would be very appreciated!

Hi everyone, I’ve got about $80k to spend on my first investment property. Preferably looking for a turnkey place ready for renters. I don’t intend to ever see the property, just want to buy it remotely, and let a prop management group do the rest while I sit back and make a little money on it. So I’m here asking to see if anyone recommends a particular city or state to do this in.

Hi I’m Luke. First post, but ive been a member here for a bit. Not asking for a mentor, I’m just a bit lost and I’m wondering if anyone can point me in the right direction. I did pretty well in last years crypto market and pulled out somewhat on top when I saw it begin to crash. I’ve reinvested in major stocks and have been doing ok there as well, but ultimately I want to make a chunk of my money work for me and start earning some passive income. I have about 50k I’m willing to be aggressive with. Ultimately, I want to get into real estate. I have an 815 credit score, but lenders won’t give me the time of day because I’m a bartender and don’t work at one place enough hours to constitute as full time. In other words, I can’t get VOE to satiate a fanny Mae mortgage loan requirements. Are there any other ways to utilize my 50k to earn me some cash flow while maintaining 50k or more in equity?

Or are there other paths I can take to get some real estate under my belt?

Thanks for your time

Luke