All Forum Posts by: Nicole Graves

@Lea Cole Congrats on getting started in REI. I agree with @Account Closed- if you haven't joined a local REIA club you may want to start there. It's a great opportunity to network, meet more seasoned investors, and gain in-depth knowledge. Advice would be to not only look for a mentor, but seek to also see what you can bring. I think that's the great thing about Bigger Pockets-everyone, new or experienced, has the opportunity to input and share. Possibly see if an experienced investor at the REIA would be interested in coaching you through your next deal. Think about bringing them a deal where they can make money and ask them to coach you through it-maybe a 50/50 or 25/75, etc deal. Just a thought. Wish you well.

@Charles Wilson   You may consider calling the companies and asking for cash advances or cash advance checks.  For example Capital One will send you checks that you can use for your credit card to pay for items.

@Matt Tobin  I believe what you may be asking about are portfolio lenders?  If so, here's a contact that I've found in the past- George Mason Bank- contact is Zoila R. Sedlak. I haven't worked with them but have spoken with them regarding their lending services. 

  Also, EVB Bank I believe has portfolio lending services with private mortgage services. Both companies seemed professional and friendly. Hope this helps. Wish you well in your investing.

@William Clark Welcome to BP!  I am a newbie in real estate investing as well and have found the BP community to be a great place for not only learning but sharing ideas as well.  There have already been some recommendations on places to start as you get plugged into the real estate community, listed above.  Another few suggestions I would have is to catch the weekly BP webinars held by @Brandon Turner each Wednesday. They are very helpful and can cover several different real estate strategies (i.e., buy and hold, fix and flip, etc).  Second, I would check out the BP podcast as it highlights different investors, their strategies, tips, and things to look out for, etc.  Lastly, I keep a pad of paper handy while I'm listening to podcasts or watching webinars as frequently you will hear great book recommendations by the hosts of the show but the guests on the show.  I jot down the titles then either buy it on Audible or check it out for free from my local library! 

  I wish you well in your investing!

Congrats on possibly finding a deal. Based on what you've typed it sounds like you haven't analyzed the deal to ensure your numbers make it a good deal. You may consider using one of the BP calculators based on your planned exit strategy. That can assist you in not only analyzing the deal but creating an easy template for possible investors to read and understand the opportunity. Also, you stated you would like to buy and hold- have you heard of the BRRRR strategy? This could help you pay back your HML and get some of your cash out to reinvest. There are quite a few non bank lenders on BP that will possibly finance and refinance your deal based on the cash flow of the property (i.e., Asset Avenue, B2R Finance, etc). You may consider calling them to see if they service your area or finding a similar financer that does. If you haven't read the ABCs of Real Estate by Ken M. You may consider as well as @Brandon Turner 's book on creative finance - The Book on No and Low Money Down. Wish you well in your investing.

@Account Closed  When you say that one of your ways of finding leads is to run ads in the local newspaper, what do you say in your ads (i.e., looking for 3 bed, 2 bath, etc)?  Just wondering what works for you.

@Sentel Mays I'm also just starting in REI, hoping to rehab homes and just learning how to estimate repairs. As apart of my team I have found a local licensed and insured contractor that I have look at homes with us when going to view prospective purchases. It has helped and saved a lot of time before going to contract on homes that had issues that I wouldn't have caught. If you have a good friend or a trusted individual who is a contractor, maybe consider asking them to go with you when viewing a property to assist you in your first few deals until you get more experience. Wish you well in your investing.

Hi BP Community! I'm just getting started in REI and have most of my team together and am wondering if anyone has a good recommendation on an accountant in the Richmond/Glen Allen, Virginia area? Also, any recommendations on a reputable tax consultant as well? Thanks in advance.

@Brandon Ogilvie I've heard Apex Title in Glen Allen, Virginia is good and works with investors.

Hope that helps! Wish you well in your investing.

@Evan Hunsberger Great question! I'm interested in hearing what some seasoned investors think about this.