All Forum Posts by: Matt Camilliere

@Robert Lolofie learn about what his ideal investment property is and find him one. 

And use BP calculators to build out a report on some potential properties he's looking at (ask for the properties he's pursuing or currently working with, run the numbers and share / compare what you found vs his numbers). 

The most baller move though would be bringing him a deal that works for what he does.

Mentioned on the Podcast before - you need 2 out of these 3 things to be successful in real estate - knowledge, hustle, and capital. Demonstrate your hustle and build your knowledge... And capital will come!

@Hunter Wolfe Your mind's in the right place starting with a duplex. 

One thought I'm having is if you can find a duplex that has one occupied unit with a long term tenant and one vacant for you. If you can provide that lease to the bank showing that there will be guaranteed rental income for the upcoming year they may be more flexible. 

If you have to own this first and have the lease under your own terms to get approval, I'd recommend going the hard money route and finding a value add duplex. Once it appraises for more than what you got it for, you have tenants in there paying $X a month you'll have a strong case to refinance into an owner occupied conventional loan (also be open to conventional - just 5% down).

Another option is looking for a job with a salary. SDR / BDR jobs at tech companies usually have 40/50k base and are a great launch pad for a high paying career (that does not have to be forever if your exit is real estate). As soon as you can show you have a salary in that range with your 743 credit score you'll probably be approved 250k+. 

@Todd Powell unfortunate that it panned out the way it did, but I'm glad you were prepared! If your employer was angry at you for building a safety net and nest egg for your family - maybe they weren't the right employer for you. Keep pushing forward and look for a like minded team!

On another note, I'm a big believer of give get relationships. If your boss can help you progress your (say) sales career by sharing his/her experience, then maybe you could help progress his/her real estate career too. I'm open about my career goals and real estate goals with my boss and now we're both learning from each other.

Listen to the Dave Ramsey show to motivate the debt pay down (now) and start analyzing deals using the BP Calculator.

If a deal fell on your doorstep that you could BRRRR and you'd come out with 25% equity and a positive cash flowing rental - would you pass it by or find the money to make it happen?

Like Rich Dad says: Poor people say "I can't afford this" - Rich people ask "how can I afford this?"

@Rocky R. being in one of the hottest markets - Austin, TX - the competition is extremely high and deals seems to be slim.

I've asked the same question to my hard money lender (who also actively invests here) and he said that about 25% of his hard money loans are tied to on market deals and from his experience that about 20% of on market deals align with investors depending on your strategy. The tricky part in certain markets if you want to BRRRR is if you can cover that 75-80% LTV on the back end.

 Sometimes it's just about being the quickest to find it and make an appealing offer, other times it's taking on a project that might make other investors uncomfortable (example - a property that needs foundation work will deter many beginner investors, or if a property needs rehab and it will be sold with a tenant - could cause a headache).

Find a property on market you're interested in, find the purchase price that'll make your numbers work, and make an offer. Properties that have been on market for a long time will be more likely to accept under list offers.