All Forum Posts by: Matt B.

No problem with having a niche but if it's too focused then you are just missing out on more opportunities

You could just focus on town houses in your county as opposed to having such strict constraints on what you are looking for

I'm speaking with an equity investor & they've given me rough estimates of ~

6-10% interest rate + 1-3% origination fee + their equity position (20-30%) 

is it just me or are they double/triple dripping?  Any suggestions? 

I'm familiar with their service, but have never used it

I can speak on behalf of using an accountant though.  it's more expensive but it's great to be working with someone who can answer any questions I have.  Also if you find a good accountant you can leverage their already established relationships with lenders, potential investors and more.  Not only that but since you are making a relationship with this person & therefore can likely negotiate payment terms as opposed to a monthly fee. 

in Short, i think you'll be more of a customer at legal zoom & it'll be harder to form the necessary relationships needed when investing through their service. 

if you can't find something on one of those sites, then you are doing something wrong

You can ask a local agent for help they will access the MLS for you for free.

been in China a while, never heard of or seen this.

I imagine Jean's theory is fairly accurate. 

@Nick Gann information about people in any country is easily accessible by everyone, it's called the internet😅

appreciate all the advice & comments.  I think everyone is right about having a strong team though I think it's hard to build that relationship initially.  Especially in a business like real estate where so many are trying to get the biggest piece of pie they can with little regard for the others (not always the case of course). 

@Zach Griffin I haven't heard of the book but I'll definitely look into it

you should build your credit, it'll be harder to get a loan without it. You can purchase a single family home with a down payment as low as 3.5% - and you could probably get the 3.5% from a hard money lender - just make sure you have a plan to pay back the interest. 

if you sell there will be a lot of hidden costs that you need to consider. Things like: agents commission, closing fees, tax on your gains (could use a 1041 to get by that)

how much equity do you have in the property? Assuming it's 180,000, you could use a HELOC on your current equity and use it as down payment for another property @Jimmy Hung

Great discussion topic, very informative. 

In the situation where you over leverage yourself (more than you have tolerance for) what do you think the best course of action to take would be? Just stop buying properties and put money towards your current mortgage(s)?  or would you do something else?

Has anyone purchased and flipped/rehabbed a place that you've never been to in person (i.e. out of state or country)?

I'm currently out of the country, but I don't want that to stop me. Would just like some input on ways to go about it so that the rehab meets my standards and the end product doesn't suffer, just because I'm not there to make sure.

No one is going to be more invested in your investment than you, right?