All Forum Posts by: Luke Grieshop

Thanks a lot @Chris Seveney & @Jeff V.

Can someone, in layman's terms, describe the difference between a 'First position' note and 'Second position' note?

Hey all,

Looking to purchase a rental property out of state and plan to hire a property manager. What kind of questions have you guys found are good to ask while interviewing? 

Hey all! Curious if anybody is willing to share their RE investing criteria and what you love about it? 

Echo'ing what @Cody Zucker said - thanks a ton to all of you veterans for your advice & input. Very, very appreciated

@Mike Dymski I really like that point. Have read several times now how important it is to establish a criteria. 

@Steve Vaughan Could you explain more what you mean by "higher rate and higher hassle debt"? Thanks a lot for the tip on the numbers & being patient

Big thanks to everybody for helping me out!

Hey guys, Q: 

Say there is a downturn/market correction in the next year or two, what's the best strategy today if you're hungry to get involved with REI? I hear time and time again from podcasts & advice online that this shouldn't be an excuse to pass on getting started (nobody can predict the future). I live in Scottsdale, AZ, and home values have increased considerably since 2012 - as most have - and we seem to be getting to that point.

Here are my interpretations (keep in mind, I'm very new to all of this). Please correct me where I'm wrong and share your thoughts on this topic:

-BRRRR would be a risky play, because investing into rehab and then refinancing after a period of time may not work out if the market dips; your investment could plummet and money will be stuck.

-Buy & hold is still a good option if you find a great deal that will produce monthly cashflow. 

- Wholesaling is also still a good option if you can find deals, because there's no skin in the game.

Really appreciate all of you guys participating in this thread and helping me out! Decision is yet to be made, but I'll be sure to take all of this advice into consideration. Thank you all 

Wow, so much great input. Thank you all! When you guys mention "paying yourself the commission" or "receiving a 10K commission", can you break down how that works when you're the agent? It's my understanding that, typically the selling agent takes a commission of, say, 6% and splits that commission with the buyer agent (if one is involved). In your cases, as agents, are you saying there are simply no fees and you're saving that money? @John Warren @Natalie Schanne @John Thedford

Also, for MLS access, I know a few realtors - couldn't they syndicate the listings my way for an indefinite period? Or are there restrictions on that?