All Forum Posts by: Sam Albert

Everyone has a 'first' deal with a private lender. Don't worry about a track record. The good thing about private lending is that it's not traditional. Most lenders aren't asking you what your accomplishments are or focusing on your credit. They focus on the deal at hand, your past deals don't mean crap to them. It's all about how you're going to make money now and what your exit strategy may be. (This is from my experiences).

Also, you're using the word 'but' way too much! Don't have time to sit around finding deals? get a motivated Realtor. Sacrifice ONE Thursday and head down to the RI Investors group. Meet a wholesaler and get on his mailing list, and deals will be sent to your email while you're at work. If you really want to be successful in real estate, you'll make the sacrifices! you got this.

Hey, house hacking would be a great way to start to get some cash flow. It is very possible right now to get into a multi family with very little down. RI Housing has a program for First time Buyers going on right now where they are giving up to $7500 for down payment assistance. (https://loans.rhodeislandhousing.org/uploadedFiles...) 

If you were to do that program and ask for seller credit for closing costs, you can get into a property with VERY LITTLE money. It's out there, take advantage of it. Private message me if you want to talk more!

Welcome Juan. You're definitely in the right place. Keep doing what you're doing. I would suggest reading up on the BRRR strategy. It's a method a lot of my buyers use. I personally work with Private Lenders in RI, so I would also suggest connecting with private lenders, start building relationships, and just keep going!

I would start by going to the monthly real estate investors meeting in Warwick, and just spending some time on here digesting the tons of information. Also start thinking about how you want to invest. Buy and Hold? Buy and Flip? Notes? Etc. Best of Luck.

Look up the BRRR strategy, here on Bigger pockets.

Jay, not sure what contingencies the agent may have included but generally, once the purchase and sales agreement is signed, one can't just back out of the deal because they feel like it. I wouldn't worry too much. Just have your agent reach out to the buyer's agent.

Believe it or not that 85% that you're thinking is probably like 60%. His best bet is to go on Craigslist make some calls, show up dressed nicely to a showing and being completely honest with the landlord. He'll definitely find something.

Congrats!!

Hey Steve I noticed that you said Mass / Rhode Island. I am an active investor and Realtor here in Rhode Island, so if you ever have any questions feel free to reach out to me!

I would suggest Nexus!