All Forum Posts by: Ruben Ryapolov

Appreciate it everyone! Thank you so much for your replies.

Melissa, I can't seem to find the DM feature and you don't have anything in your contact section on your profile. Let me know or message me first! Thanks

I am interested to see where this goes! I have never heard of the NM markets being good or bad. Will be checking in!

Your best bet is marketing. Go to REIA meetings in your local area, meet people and try to collect as many business cards as possible. Many investors can't invest into every single property out there so they will pass them onto you. Look for a good agent but honestly, using the retail market isn't the best option. I'm not saying you won't find anything but there's better out there if you can find someone who is willing to sell.

I don't have much experience but I tried this with my lender. It didn't work. Here was my situation (simplified):

Piece of land: 85k, Cost of Construction: 200k, Selling Price: 320k, and potential Profit: 35k

I went to my lender with these numbers. He said no matter what he needs something to fall back on if I default. With no down payment, he had nothing.. no backbone. He said, "imagine this - if you put down 50k, and I give you 285k for the project, then technically from day one, before any construction.. I technically, the lender, own property (1st position lien holder) that I purchased for 35k. So, I am safe because if you default even before you even build, you lose your 50k and I gain a piece of land that's worth at least 85k for only 30k (85k land purchase price - 50k down payment)."

The bank wants to be safe, that's all.

Most likely you will need to put something down or offer some good collateral. Maybe if you are willing, some equity in your home is a good place to get some cash.

 Appreciate it!

Hello,

My name is Ruben Ryapolov from Portland, OR. I am new to bigger pockets. I have been studying and learning real estate for the past year online by myself and through a few programs as well. I am most interested in apartment complexes and commercial real estate. My main business currently is a printing company that specializes in screen printing, embroidery, vinyl sticker/decals, and anything marketing regarding small businesses, churches, etc. but want to switch over to real estate investing full time. I have some crazy goals but I know they are possible so I will keep working at them. I am also happily married and have a little boy on the way. Everyone in my family owns/runs some sort of business so I guess it's just in my blood. I am also a christian and am very involved in my local church, I love to speak and am not afraid of big crowds (my biggest crowd so far has been about 1,000 people). That's about everything to me, I'm excited to keep learning and growing my wealth!

Thanks for reading!