All Forum Posts by: Matthew John

@James Wise Thanks for the advice! I will def look into getting it ASAP. 

Awesome to hear you scaled up so quickly. A lot can happen in 5 years 

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@Harjeet Bhatti She's been a nurse for 4 years, so that might work.

My parent's don't have money for a down payment. I do, but would have withdrawal from my cryptocurrency portfolio. 

So you think it would be possible if the loan was in someone else's name & I was also put on it too?

Hey guys, 

I'm in kind of a sticky situation. 

I've been trading for a few years now and have made some money trading cryptocurrency. 

I also have a successful business that operates 100% in cryptocurrency. We receive payments in Crypto, cover expenses using Crypto, etc

I have a chunk I want to diversify into real estate. I've been looking at duplex/triplex in my area under 200k and would be interested in renting 1 of the rooms out for a year. I figured an FHA loan would be best.

My question is...Is it possible to qualify for any loan to purchase a property? I don't want to liquidate my assets for a down payment if it's not even possible. 

My S/O is a nurse and her income might qualify, but she's only been working in this state for 1 year. Not sure if her income carries over from state to state. 

If it's not possible...would it be possible to have my parents co-sign to buy a duplex/triplex and we can live in that + rent out other units?

Thanks for the help! 

@Christopher M. Thanks for the tips! That's what I was looking for. 

I'll definitely reach out. Thanks for the help. 

Hey everyone!

I've been absorbing information, just reading & listening to everything I can find. I'm at the point where I want to diversify my portfolio into real estate. 

Little background - I'm 25, living in Metro Detroit. I currently trade/invest in different financial markets (stocks and cryptocurrency) & also have a business helping people become successful traders/investors. After trading full time for 6 years, I finally had my breakout multi 6 figure year in 2016/2017. I'm at the point in my life where I want to diversify my investments into real estate. 

I'm a total noob in the real estate markets. I've been researching Turnkey Investments, but they seem to good to be true. For a company to buy a property, renovate it, find a tenant, and manage it...why would they want to sell it? Are they jacking the price up a lot? What's the catch? For it to make sense to me, there would have to be a huge markup for them to profit. 

I have been considering getting my real estate license this summer just to get more knowledge of the space. Being young(er) than most people in the field, I don't want to be taken advantage of so figure this would be best to expand my knowledge. 

Are there any cons or reasons to NOT get my real estate license? 

I guess what I'm looking for is some advice to someone that hasn't invested in any properties, doesn't own any properties, and is just looking to dip their toes in the industry.

It would be nice to connect with some local investors in the Metro Detroit area. 

The city of Detroit is some of the cheapest property around. Houses down there are selling for 30k - 80k and these turnkey businesses are saying how great of an opportunity it is to invest. Some parts of the city are trash, but some parts also could appreciate nicely in the next few years. Hard to differentiate which ones those will be. 

Anyway, thanks for taking the time to read this & appreciate any tips you guys can spare!