All Forum Posts by: Madeline McKune
Madeline McKune has started 2 posts and replied 3 times.
Quote from @Nathan Gesner:
Quote from @Madeline McKune:
You need to be realistic. You can't buy a Ferrari with a grocery bagger job, and you can't invest in Denver, Colorado with $10,000. Your choice is to figure out how to increase your funds or find a different market. There are still markets around the country with houses for sale under $100,000 but it takes work to find them and it takes a lot of work to manage them because they are lower-class properties.
Consider reading "Set for Life" by Scott Trench for some ideas on improving your financials and getting started in an expensive market.
Thanks Nathan! I will add it to my reading list.
Hello! I have been looking at getting into real estate investing and have had a hard time getting started (hoping a lot of you can relate!). I don't have a lot of money to start (about 10k cash) and it seems like all investment properties require 20% down. I was surprised to find out even hard money lenders want 20% down- how do I get started??
I have found a house in my city that will do seller financing with 20% down but that means I would need a 100k down payment and then also finance the renos. Is there a way for me to pair the seller financing with a hard money or private lender financing (like 20% from a private lender, 80% from the seller, 10k from me for renos?). Or is the 20% downpayment expected to come from my pocket?
Is 10k just too low to get into real estate investments? Any advice/ thoughts is greatly appreciated.
I have a degree in computer science and would love to trade real estate knowledge/advice for code+website help, if anyone is interested!
Post: Seller Financing Term Sheet
- Posts 3
- Votes 1
Hello BP family! I'm a first time real estate investor and have identified a property that offers seller financing. But now I'm not sure how to proceed...
1. Do I need to get an attorney or can I use a purchase agreement template?
2. Do I send over a term sheet for the seller financing? Or should I ask them for one?
3. Do I need to find a title company in the same county?
Thanks for your patience!