All Forum Posts by: Account Closed

 Ya I understand that when going through a traditional lending method. In my scenario its a private investor willing to do the same rate on either year period. 

@David Krulac @Bill Gulley Thanks for the responses. I guess the answer I expected was it just depends on investor preference which is what you guys are saying. I'm assuming interest rate is the same on both terms, property is move in ready, I've got cash to cover a vacancy. I was thinking I might prefer a 15 year regardless of if I plan on holding for 7 or 15 years. Reason being I would like to create as much equity as I can more so than collecting $200 a month cashflow. I'm also an agent so I could easily throw it on the MLS and cash out the equity whenever I'm ready as well. I'm not certain this is the right approach though having never done a true long term buy and hold.

Hi just posing a scenario out there for buy and hold investors. If you have a private investor willing to put up all the funds for a buy and hold, how long of a mortgage would you prefer? In our example you're buying a 100k house that rents for $900. You can get a 30 year mortgage and cash flow a couple hundred every month or you can get a 15 year and basically break even. Which would you prefer? I'm curious what long time investors would do because I may have a situation where I need to decide coming up. 

 Hopefully we hit a few homers though!

@Brandon Turner the last two years I've played against the Saints. Great city! They're actually getting a new stadium next year so that should be pretty cool. Back in 2010 I also played in Everett, WA. Not sure how close that is to you. 

Hi! My name's Ryan Pineda and I'm an investor and agent out here in Las Vegas. I've been listening to @Joshua Dorkin & @Brandon Turner on the podcast and I just wanna say they've been so great in helping me learn and get motivated to invest in real estate full time. A little background on me:

I've been a minor league baseball player since 2010. If you didn't know minor league players don't make anything. We basically either play to get the future payday in the Bigs or for the love of the game. So that being said I needed to get a job in the offseason. Well my mom had been a Realtor for over 25 years so I grew up in the business and knew it was something I could do while playing baseball. So to make a long story short I got my license in 2009 and started working as an agent in 2010. That same year I bought my first house when I was 21. I lived in it for a year and half and sold it for a nice profit after the market here in Vegas started getting hot. I ended up doing the same thing on my next house and then I got married so there was no more short term living and selling :(

So it was at this time I found BP and learned about Hard Money/ Private Money and how to go about starting a flipping business. So this January in 2015 I started my company Redeemed Pursuits, LLC with the intent on flipping but also open to buy and holds if we can get investors who want to fund that. But anyways two weeks ago we bought our first property from a wholesaler so we're hoping its a successful first *real* flip. I also was able to get another offer accepted today actually so we're going to have two going here in the first month!

But anyways I just wanna say just reading these forums, articles, and listening to the podcasts has enabled me to start and grow this new business! I look forward to connecting with all the BP members especially those in Las Vegas! So please contact me and lets meet up!