All Forum Posts by: Nat Love

Looking for some advice

I'm new to REI and want to find the best way to move forward. Right now, house hacking is out of the picture for me, and I have to stay in the Borough of Paramus for the time being.

I currently live in Paramus and bought my house with cash, no mortgage (with some outside help). With over 200k in equity, I was thinking about getting an FHA loan on another single family property (also in Paramus) so I can rent out my original house, build equity in the new one, build amortization and perhaps positive cash flow.

Is it wise to do an FHA loan on the new property, or is it better to put down 20%, using a HELOC from my original house? Can you suggest any other paths for me to get started in REI with this information?

Quote from @Nat Love:

Quote from @Dawn Brenengen:

Tell us more about what kind of real estate you’re hoping to get into....what areas...etc

So… I am looking to get into creative financing, seller financing. Single family homes or multi-family homes—remotely. I’d like to buy and hold, but if I can pull off a sub-to/sandwich lease, I would be open to it. Mainly, I’m looking for no money out  of pocket deals. 

 Also, I’m thinking about the Dallas market. But have to do more research. 

Quote from @Dawn Brenengen:

Tell us more about what kind of real estate you’re hoping to get into....what areas...etc

So… I am looking to get into creative financing, seller financing. Single family homes or multi-family homes—remotely. I’d like to buy and hold, but if I can pull off a sub-to/sandwich lease, I would be open to it. Mainly, I’m looking for no money out  of pocket deals. 

Quote from @Dawn Brenengen:

So you'd lease the home from someone and then turn around and rent it to someone else? Is this for short or medium term rentals? Or for long term?

Yes. I’d say medium term, until the next buyer buys the property or until the first lease contract ends. If I’m seeing this correctly? 

Quote from @Pierre Ligon:

Welcome to the REI world.

If your interested in sandwich leases look into Ron Legrand, he is the OG/Godfather of the sandwich lease niche. 

If your going to dive into lease options please look into Dodd Frank Act to make sure your in compliance with any laws regarding the rent to own / lease options. 

Feel free to reach out with any questions . 

Thank you. Ron Legrand, got it. 

Quote from @Eliott Elias:

What in particular do you want to learn? 

I want to know how to pull off a sandwich lease from start to finish, remotely without setting foot on the property. 

Hi, my name is Nat and I am just getting started in real estate investing. I need to build my portfolio, possibly with a wholesale deal, but ultimately want to buy and hold, making positive cash flow. I would like to network with other investors and colleagues who are knowledgeable about subject to’s, no money down deals, and building relationships with professionals like real estate agents, real estate attorneys, private attorneys, money lenders, property managers, title/escrow companies, contractors, etc. that can help grow my business. Looking for passive income rather than flipping houses or wholesaling. Thank you. 

40 year old noob, looking for opportunities to help people and build my portfolio