All Forum Posts by: Paul Aqua

I probably should've mentioned I am fairly knowledgeable about real estate ( I've invested in tax deeds and liens and I take my real estate license exam next month!) So I understand how hard it is to find a good deal. I am looking at properties with roughly anywhere from 45-65% of the ARV So I already have a hefty chunk of equity in it. While I have looked into remote rentals ( I was an assistant property manager for roughly 3 years) I don't think it will be something that much harder than the craziness I encountered at work. Ultimately I would be using a majority of my proceeds from my flip to place a downpayment on an apartment complex ( the goal is to place roughly 75-80,000 down so I am trying to have my net flip proceeds be around 30K and I will supply the rest) Or am I better off getting a duplex and doing a minor rehab and selling at a later date?

Hello! I have a little bit of money saved up and will have around 30K by the end of May. I know how to find great deals on rentals ( outside of California) but I also was wondering if it might be better to use that 30k towards getting  several hard money loans and flipping a couple homes. based on the comps on the homes I have looked at The average home I have been looking at ranges from 50-85K and need anywhere from 5,000 all the way up to 35,000 in repairs. estimated profit after loans and commission on each deal ranges from 15,000 all the way up to 55,000. I am just curious on what You would do if you were in my situation.

Hello there! I will have my RE License soon and I am aware it'll probably be around 60 days before I get my first commission after being licensed ( I am in a hot market and already have several people interested in listing their homes with me). I currently just left my current job though I am starting another one at the beginning of next month. I just wanted to know what people did while they were waiting for their first commission check and when did they decide to do real estate fulltime.

@James Hunt currently do not have any credit cards though hopefully by next month I will have opened up several secured credit cards. Thank you @George Despotopoulos I am working on getting my credit score up to the 700's so that I can get loans alot easier. Thank you for your thoughtful response you were extremely helpful.

I should also add I wasn't employed consistently the last several years ( I was in school) and these last 4 months have been the first time I've been making solid money.

Hello! So I have been saving money and likely will have close to 35,000 saved up by the end of April. I want to buy a rental property ( Most likely a duplex or a fourplex in Ohio or Indiana). the price range I am looking to purchase is anywhere from 75,000 to about 135,000. I don't have great credit ( Credit will be in low 600's by April) but I make good money and plan to aggressively pay down the debt each year ( I would be willing to pay back about 10-20% each year I am not a huge fan of debt) . Am I better off finding a private partner to lend me money or will I qualify for a traditional loan? I don't want to pay more than 7.5% interest rate either. If anyone is aware of any lenders that would work with a lender like myself I would appreciate it if you could PM their contact info. Thanks!

Thank you everyone for your advice and those of you that have PM me as well. I take my exam next month and I believe I will do well, I have already started purchasing things like business cards and I am currently working on getting my website up and running ( I don't want to do a website through a broker and end up leaving the broker and losing my website, marketing materials etc.) I am looking forward to the success this new year will bring me, I am positive I will be wildly successful in this field if I listen to the great advice you all have given me as well as work hard and smart. Thank you everyone!

@Chris Seveney  Thank you for pointing those facts out for me, At this time I do not think this something I am comfortable investing in but who knows?

I've found Loopnet.com to be a great resource for multifamily properties for sale.

Could you please describe how notes are a better investment than multifamily or fix and flips? I am curious on learning more information.