All Forum Posts by: Account Closed

Hi Victor, it really depends what type of real estate investor you want to be. Do you want to buy and sell property without any repairs? Or fix and flip? Buy and hold? Wholesale? What type of properties are you targeting single family homes, condominiums, townhomes, what city and county?

I specialize on prospecting on homeowners facing on pre-foreclosure. I offer homeowners a contingency plan best on their family needs and their times it is not in their best interest or best solution where they may need either sell their home to an investor for a discount or in market value. That is where I network with REI.

Hi Vidal, both advice is correct, it depends on what you want to do. My opinion reviews your financial situation first because jumping into real estate or real estate investment you will need at least six months of reserves financially self-sufficient to support yourself. If you do not have any savings to support yourself, it will be difficult and stressful. If you are currently employed, do not quit that job until you are 100% financially and can support yourself. Finding the right brokerage is the other challenge you will have because the industry has changed. Before getting your salesperson license, I would interview a brokerage first who offers real estate school for principal and licensing with reimbursement? Do not fall on a brokerage that offers or aids you in getting your real estate license or will reimburse you for your RE license because those are just to bait for new agent or to get people to sign up. You still must pay for your own principal certificate, books, crash course, state exam, state application fee, fingerprint fee, and any other fee needed. They will only reimburse you after you close your first escrow/transaction. A good real estate brokerage firm will not entertain or interview you if you do not have an active real estate license because those brokerages are top producing brokerage meaning those companies are buying leads with premium leads like Zillow and other sources. I have been mortgage underwriter since 2012 and I was re-entering the real estate era on Feb 2024, which I interview with four RE brokerage and one which I work for a brokerage that lasted for three weeks. Now I am with C21 Prime Time which I have been for thirteen days have defined my old sales skills with consistently sharpening my cold calling phone skills through attending their script and role play every Tuesday and Wednesday morning training. Monday morning mentorship program and weekend open house hosting. I hope this helps and if you have any questions either email or text me. Good luck with your new endeavor.

Hi Jan, In respect to everyone advice is on the dot. Credit and assets is the main characters and tools when it comes to lending or real estate financing. The other tool is network/partnership is other key.   

Hello, I'm a FHA / Conventional & Private Money mortgage underwriter since 2012, If your a first time real estate investor and never applied for Hard Money or Private Money lending for funding, I would suggest to stay with traditional lending (conventional) until you get familiar with real estate finacing. Each state has specific regulations in lending for Private/Hard Money (*Texas*). Mostly Attorney states are the most difficults states to lend on. My suggestion to consult your accountant or tax prepared referring to points which also know as loan origination fee and interest rate how this will affect and will this be an advantage for your business? The only advatange of Private/Hard Money Funding is less paper to non paper work or a Non Tradition Lending programs available like DSCR (debt service coverage ratio) or Bank Statement. If your tax return or W2 (wage earnings) support your income and you qulaify with the traditional (conventioal) lending you better off doing that route. My suggestion to any one that are first time real estate investor in fix & flip, or planning to hold property for rentals, is to learn or read, understand about real estate financing first, build your assets and network or partner withsome has completed some projects in fix & flip and has some rental properties with positive cash flow within your immediate area before dving in to any project by youyrself. Just my opinion, I hope this helps.

Welcome David, I'm glad your here at BP this is a good community. I've been in mortgage and real estate profession in California since 98. My first suggestion is learn as much as you can about real estate financing and your local market first if you never done real estate investment before especially if your thinking of fix & flip. before venturing more than 1 hour drive from your home. Once you understand the ins and out of real estate financing you will understand the creative financing wholesale, bridge loan, etc will be no brainer. I hope this will help and wish you the best.