All Forum Posts by: Kelly T

Sounds like you're motivated to do what you can to make it in real estate.
As you are looking into buying and holding, you could try brokeruniverse.com/grapevine for possible loans or investors.

Generally speaking, in our current economy, the big banks may be hesitant to lend to real estate investors. This is why you should NOT go to the big banks but to your small local banks and you're more likely to get more help.

Also having a 9 to 5 job helps increase your chances for getting loans

Worse case scenario, if you learn how to invest in apartment complexes (simply learn how to accurately calculate cash flows) then you won't need a great credit score or even income from a job since most apartment complex owners know that most people need them to seller finance in order to get the deal closed. You could find someone who owns an apartment complex who si tired of landlording and is thus motivated.

Be careful though - often with section 8 can come high crime areas and trouble. If you get an apartment complex, make sure you have a good management company to help you handle the load.

Remember - the best way to "reach the top" safely in a way that lasts is to do so with honesty and integrity with the mindset of helping others along the way and living a philanthropic life as well.

Let us know what you decide! Good luck!

Cameron,

Glad you're joining us! Real estate investing can be exciting stuff! So long as you remember that you'll never have everything mastered you'll be fine. I've had a strong interest in real estate investing since high school and finally jumped in and learned even more.

Never wait until you think you "know it all" because then you'll never get started.

I've made thousands of dollars on deals in short amounts of time but I never waited until I thought I had everything planned out perfectly.

Sometimes you just have to jump in and get a deal started.

May you never give up so that you can have your first success (and your second and your third etc) in investing! Be kind and you'll have it returned fourfold!

Kathy,

Welcome to the forum! Most people in real estate know that buying and holding is generally where you make the most money. When was the last time you picked up a new property?

I've done some real estate investing and rehabs etc and have a few friends who do the same.

I know not everyone finds investing very interesting but I'm fascinated with it!

How did you get an interest in it? Any parents or grandparents invest in real estate? My uncle and grandfather both invested in residential as well as commercial. Most of my experience is with residential but I know I'll learn the commercial side eventually.

Lucky you! They did much of the work and then just said "Nah...I don't want to mess with it anymore...here...you take the profit!"

Just so you know, not all of your rehabs will be like that. Maybe if you didn't mind only doing one or two a year you might find some but generally no.

You said you're $4k into it. What previous rehab experience do you have? Do you plan on staging it for a faster sell or no? Staging can save you 3 or more months of waiting on the market if you want to get a good price quickly.

By chance did you discuss with a professional (like a local realtor or local appraiser or general contractor who knows the neighborhood) what the best changes to be made are for maximum profit?

I'm glad you're learning alot!

Hello!
So how many of you are finding that Summer is a great time to get rehabs done? I have some experience in this and would like to help with anyone who is new to rehabbing or anyone who is stuck etc.

Is anyone here beginning a rehab project on a home soon? Which city and/or state are you in and is it an investment property? Or is it your own home?

Some areas are doing well and others aren't. But if you know your stuff you can have success in nearly any area!

Tell me what's the latest with you and maybe I can help. Take care!
:D

Hello!
Is everyone having fun yet? Just wondering who is working on a residential rehab right now? Which city and state are you in? Or if you aren't in the middle of a residential rehab, is there anyone out there about to start one after you close on a property soon?

I have a bit of real estate and investing experience and I've got some extra time to help anyone out if I can. Knowing the right stuff can save you both money and time if you know how to do things right.

Have a great day!