All Forum Posts by: David Friedman

Hello @Account Closed ,

1. While I am not a full time investor, I am an investor friendly Realtor and believe I can provide some insight on your question.

2. A. Your first route of financing, and usually the cheapest in today's market, is through traditional bank financing. Currently, you can have up to 4 loans through a traditional bank (Regular bank or Credit Union). So if you have a decent paying job this is the best way to start. Regardless of the number of loans you have, the dollar amount being borrowed will have to follow a certain debt to income ratio. Right now, I believe the maximum debt to income ratio is 45%. If you go over this number, you will most likely have to increase your down payment/equity in an investment property.

2. B. Loans 5+ will most likely need to be portfolio loans. These are loans that the bank must hold instead of sell off in packages so the interest rate on these loans are usually higher.

Personally, My father and I currently own one house that is a seller carry, 3 homes that are conventional loans and 1 house that we are buying all cash.

The house that we are buying all cash is coming from several private investors. I've made deals with these private investors that they will receive a portion of the profits based upon the amount of money that they put into the deal and that I will earn a percentage based upon how much work is involved in finding, fixing and selling the house. If it is a buy and hold instead of a flip, then we use the same calculations for the cash flow and appreciation.

I hope this helped!

Thank you @J. Martin !

I'm going to start going over all of the information you have sent me.

Thank you @Annunciata R. That helped me find it. It was so obvious!

Thank you for the welcome @Derrick Craig

@Account Closed Thank you!

@Matt Sauls I'd be happy to meet for coffee some time and talk about real estate or anything you're interested in. PM me the best way to reach you.

Quick question: Where can I see my private messages?

Thank you for the welcome @Jeff ZamoraI just added you as a colleague so that we can talk.

Welp! Already messed my profile picture up haha.

Hello,

My name is David Friedman and I am excited to start posting my experiences with real estate as well as learn from other experienced real estate investors. I've been lurking on BP for about a year now and decided that it was time to introduce myself correctly.

I'm a licensed Realtor, ever since I turned 18 years old (20 years old now). I work in the Inland Empire which is west of Los Angeles and includes cities such as San Bernardino, Redlands, Yucaipa, Riverside, etc. I started my own firm, Realicore Real Estate Services, in 2011 with the help of my father. My father (Also my broker) is even retiring from his CPA business to begin real estate with me! I'm super excited about working with my father because.. family!

So far I have flipped 2 homes, currently in escrow for another flip, and own a rental property in Needles, CA. I have successfully represented my clients on 25+ home purchases/sales. I have done all of this, while going to college full time for my marketing degree.

My goals in real estate are:

1. Represent clients on at least 20 homes by the end of the year.

2. Begin to flip at 5 properties a month using OPM by the end of the year.

3. Produce cash flow of $2000 per month by the end of 2015.

Please feel free to ask me any questions. I look forward to being a part of the BP community.