All Forum Posts by: Samuel Eastling

Mr. @Brian V. I would also structure it into an LLC, avoid personal risk whenever possible. Obviously I am not a lawyer and you should discuss the pros and cobs with a lawyer. The potential protection though is worth looking into. I just got my LLC, you can spend as little as $250. Google and weigh out your options.

@Terrill Clark  

Hey Hush,

Yeah no worries lease options are not common,  the forum is under investor basics in the real estate strategy section, also called rent to own,  there are many strategies to use to make money, here is a book worth looking into "Making Big Money Investing in Real Estate: Without Tenants, Banks, or Rehab Projects" by Peter Conti.  I just bought it and would encourage you to look into it.  If you wanna know how I do it in the Twin Cities feel free to send me a PM.

Hey @Terrill Clark

First thing first, congratulations on taking action.

Second I see that Minneapolis is a mildly expensive area and with that it costs a significant amount of money to get started. Fortunately you have $10,000 dollars to get started. You could go for wholesaling, look for some items to get under contract and also while doing that learn about the cost involved with rehabbing. You could also do an owner occupied loan, such as the FHA 203K loan to allow you fix up the property as you live in it. Perhaps if you really want to buy something look at mobile homes outside of Minneapolis. Great strategy with little money many different avenues to take there. As for me I like lease options, low money in a deal and in the first month of the lessee signing I have already made several times over again on my money. 4 of those deals allows anyone to buy a small property.

Good luck and God bless,  always stay hungry for knowledge and wisdom!  

I agree with @Brian C. Look into Brandon Turner's book investing with low and no money down, make some lease option deals, build up on your semi passive income and save it till you can either do a FHA loan on a small MFR or anything else, there is always a way if you are creative and persistent.