All Forum Posts by: Monica Abeyta

Hi BP!

I have been doing tons of research for my first investment. During my studies, some of the sites I have stumbled across have interesting little quizzes to test Investor Knowledge.

I wanted to do something fun here so…

Hypothetical Question:

If Real Estate Investor's needed to pass a test to get a license in Investing and you were responsible for creating that test, what questions would you include and why?

Here is a list of questions, off the top of my head, that I have put together so far. Feel free to comment with your questions for the test.

What is the difference between Private and Hard Money Lenders?

What is the most important goal when making a deal?

What is the difference between Owner Financing and Bank Financing?

What is the difference between Wholesalers and Bird Dogs?

How can you recognize a lender scam?

What are the key details that differentiates Fix and Flip from BRRRR?

What is an efficient way to analyze a rental market?

What is the 2% rule and why would some investors shy away from it?

What is the 1% rule?

What is the 70% rule?

What is the 50% rule?

How many maximum units can you buy before you have to get a commercial loan?

What does ARV Mean?

What does Cash on Cash return mean?

What is the formula for Cash on Cash Return?

What is Cap Ex?

What is Cap Rate?

What is NOI?

What is ROI?

What is Pro Forma Cap Rate?

What tools do you need to screen a tenant?

What is the difference between a Real Estate Agent and a Broker?

Is networking important to Real Estate Investing and why?

What is the maximum loans you can obtain with Conventional Financing?

What is the difference between a portfolio lender and a commercial lender?

What is syndication?

What does Subject To mean?

What is a common way to buy distressed properties?

What does Amortization mean?

What is a 1031 exchange?

What is a 203k loan?

What is FHA?

What is HUD?

What is the SEC?

What does foreclosure mean?

Thanks BP! Best of Success to all of you!

I was recently looking for a multifamily in LA myself. I decided against it only because I kept getting priced out with much higher offers and a ton of properties in Los Angeles have rent control. I was going to do FHA as well. They will do up to 4 units. I believe the max loan out here for FHA is around 700k or so. Or thats what I was told at least. Be careful with that 3.5% down though. When I got pre-approved and was shown numbers on the loan, there was an Up front Mortgage Insurance Premium, which all the FHA loans will have if you are not putting down 20%. So for LA properties, it will probably be at least $5-$15K more. They will roll that into the loan though but with those numbers we just decided to do 5% conventional. After searching for 6 months we have decided to invest out of state. But wishing you more luck than we had.

 @Chris Clothier DMing people who have posted about MI seems like a great idea! Thanks Chris! I have been reading great things about your company though. I am hoping to have a decision soon. But regardless thanks for responding and I wish you and your company continued success.

Thanks for the insight @David B. That is one of the factors I'm trying to weigh. Getting a good first experience with a turnkey provider or trying to wrangle all the caveats of a first investment myself. I know I will learn more about investing doing it all myself but I am also juggling risk factors especially being a first time investor. The fear of getting it wrong vs doing it right yourself. 

@Matt R. Yeah that's what I am learning. The decision I have come to now is how passive do I want to be and how much equity and cash flow am I willing to sacrifice for that passivity. But from what I am reading and hearing the company seems legit and has great service. Thanks for your response Matt!

@Account Closed great point Linda thanks! 

@Caleb Heimsoth Awesome info and insight Caleb!! Thanks so much! I will definitely keep that all under consideration. Since it would be my first investment property especially out of state I will have to weigh the pros and cons of turnkey vs non. Much Appreciated!

@Jay Hinrichs What an awesome cause! Thanks for the link. I bookmarked it and look forward to updates in the future as well as donating. 

@Jay Hinrichs Great to hear! I was thinking of doing the same in the near future. Did you ever consider buying from them? Thanks for your response! Much appreciated!

Hi BP,

I just got off the phone with Memphis Invest. I have been researching them and a few other turnkeys for a bit. I would like to know if anyone has any info they would like to share with their experience of the company. If you have bought turnkey property with this company recently or in the past, please let me know how it went for you. Thanks for any info you can provide.

-Monica