All Forum Posts by: Miles Atkins

I firmly believe you should never buy based on anyone's forecast of where the market is going. If you buy based on what you know is factual TODAY, and have profit baked in based on today's information, if the market rises, you are printing money. On the other hand, if the market drops, you might just make less money than expected.

If you are conservative in your underwriting, it is possible to make losing money a very rare event. I know one real estate investor that lost money on only 1 of 120 deals. I aspire to their success. I'm now up to 46 profitable deals in a row. Try to do that in the stock market!

New investor here! What is underwriting and conservative underwriting?

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Spokane, Washington

Quote from @Bruce Woodruff:

This is the best (but hardest) time for a newbie to get into RE. This market is scaring away all of the lookie loos who have been buying up anything they could. Now they have to be careful......

Bit new to the market aspect of things. Is this the hardest time to get into real estate because the prices are high?

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Quote from @Bud Gaffney:

@Miles Atkins can you give us some figures? Would a parent co-sign until you can refi ?

I am making low 6 figures and I do think parents would co sign. I have been looking more into that and dscr loans and hard money loans as those seem to be my only options. It seems loans that's don't require tax returns require good credit so I am in the process of boosting my score up.

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What are HMLs and HM programs?

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Quote from @Michael Paling:

If you haven't already, I think you'd get some really good insight by just going and talking to some local bank lenders. I've not dealt with this situation, but some lenders might have issues with not having the 2 years of tax returns while others might not. Each one is different. Plus getting out and talking to someone in person can really help form relationships that will last long term. You might also talk with friends or family to help with co-signing on a loan.

Thanks for the reply! I will definitely look into the co-signing and I will be reaching out to lenders. Thanks!

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I am far from investing in any large multi-family properties but I was just wondering where you guys find these types of properties for sale? Is there a certain website you guys use or is it through connections. Thanks!

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I am 18 and I have been doing a bit of reading on real estate investing and have came across information on acquiring loans. Most loans to my understanding need 2 years of tax returns. I have a business that is doing very well and have a steady stream of income and want to acquire an investment property. I guess my question is how can I get financing for a property if I have only had a business for 1 year. I have read about cash flow mortgages and I know I don't need tax returns for that but I was just wondering what other financing options are out there. Does hard money require tax returns? Can I buy the property through a LLC and use business tax returns? Just reaching out really to see if anyone has any answers. Thanks!

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All Forum Posts by: Miles Atkins

Miles Atkins has started 10 posts and replied 17 times.

Post: Home prices are expected to climb between 7% to 10% this year!

Post: Is this the best or worst time to get into real estate?

Post: Mortgage options for a 18 year old

Post: Mortgage options for a 18 year old

Post: Mortgage options for a 18 year old

Post: Where to find

Post: Mortgage options for a 18 year old