All Forum Posts by: Ryan Moore

I'm closing on my first multifamily 4-plex here in Phoenix.  Plenty of opportunities here.

@Franklin Fletcher No CPA at this time. 

Welcome @Franklin Fletcher  I too started my real estate journey here in Phoenix after realizing that I didn't want all my money locked away into the stock market.  I was maxing out 401k and personal Roths for myself and my wife and I just felt like there was something more I could do besides that.  I decided that a buy and hold strategy will help me gain financial freedom that best way and provide different streams of income for retirement.  Good luck with everything!

@Chris Mason

I get what you are saying.  In my case, during the final week before closing they are asking me about money I moved between Fidelity and my personal bank account.  This money movement occurred before I even went under contract for the property and got any kind of approval.  They were waiting for some other money to season in my personal bank account, but I made no other random big deposits/withdrawals since then.  It just seems to me that they waited until the last minute to really look over all the numbers that were always there to look at, then making me scramble to get statements and transaction printouts, etc. 

Without going into too much detail, is it normal for a lender to cause you to have to push back your closing date because they couldn't get underwriter approval on time?   I feel like they are having me scramble now to show transactions between accounts of mine, which is something that could have been done sometime in the past 6 weeks while I was under contract. 

@Brian Stark

I also have a 9-5 job that does not allow me to accomplish anything else during the day.  I'm closing on my first multifamily 4-plex here in Phoenix and highly recommend that route as a path when you don't have the ability to devote much time due to a job.

I've never been to one yet but I might gather up enough confidence to join

@Nick Abbate

Welcome to BP.  Set up your keywords for Phoenix and wholesale and I'm sure you'll come across some great conversations.

This is just out of curiosity and j have zero interest in it. Driving to work the other day I saw hand made signs for anyone interested in real estate investing. It says you can make 1000 to 10,000 a month working with an investor. What exactly is the deal these signs are usually implying? Are you finding deals for an investor and making some sort of commission? Just seems shady having hand made signs in the side of the road.

Originally posted by @Joe Splitrock:

@Nicole A.and @Mike Cumbie

Good advice.  I think at most I will get things set up before closing so that once it's officially mine, we will already have the right things set in motion.