All Forum Posts by: Ray Rhoads

I know I’m new to this lol but how do I contact the seller? Through the agent?

I found a fourplex I want to house hack.... Purchase with an FHA, fix it up over time and go from there. However, I own a business that I opened this year..... no W-2s. How can I get financing for this? Suggestions?

So I’m searching for my first deal... Obstacle #1: I live in SoFla, crazy expensive. Obstacle #2: I left a Fortune 100 company to start a business THIS YEAR. So no W-2s proving steady income. Obstacle #3: I don’t have 100,000 cash to buy this deal lol How do I get the money to bu this unit? 99,000 ask. Great Area. Could rent at/above $1500. Beautiful in and out. Just needs washeR and dryer switched out. What’s my OPTIONS FOR FINANCING THIS so I can offer ImmedIately? THANKS FOR ANY ADVICE THOUGH!

I applied for a Cash Out Refinance with the bank that holds my mortgage. In an effort to actually enjoy my life and spend time with my 1 year old son as he grows up, I left my job at a Fortune 100 company to own a business where I make very similar money working about 6-8 hours/week instead of 60-80. The next step IS real estate investing. So the first part of that was a cash out refi on my condo(it’s SoFla, I owe 89k, condo is worth 138k now) to get money for my first multifamily property. The advisor I spoke to worried because I’ve only been “self-employed” for 6 months, she said they want 2 years of proof of self-employment. Any help on how to get my cash out refi so I can finally get on my path to Invest in Real Estate, financial freedom, and spending time with my family! 🙏🏻👍🏻 Thanks! Ray

@Ali Boone Great idea! I’ll give it a shot. Thank uuuu

@Kaylee Pratt it just arrived yesterday.... about to devour it. So far I’ve read “The Book on Rental Investing,“ “The millionaire Real Estate Investor,” “The ABCs of Real Estate Investing,” and have the “Managing Rental Properties” and “Buying Rental Properties with No Money Down” books on the horizon. Other than this amazing website, any other resources you suggest??? Thanks so much! Ray

Has anyone had success investing in South Florida? 

I found it funny ready "The Book on Rental Property Investing," hearing @Brandon Turner use $100,000 as an example price of a Multifamily property. LOL. I live in a 2/2 Condo that I paid $107,000 for in 2014. 

Prices down here are extraordinarily high, has anyone found how to make money down here?

Thanks! 

I’m probably the millionth person to ask but.... I’m just starting. I read “The Book on Rental Property Investing” and “The Millionaire Real Estate Investor.” I feel like I have a good grasp on the concepts and principles, I feel like I know the why’s but not the how’s. How did you learn you’re “weak areas?” For me managing rentals, contracts, knowing the laws FEEL so far from me understanding them. Lol. Thanks! Ray