All Forum Posts by: Samuel Lynch

Ivy Wang Thank you!!!

My wife and I will be moving to southern Ca next summer. She is looking into getting her real estate salesperson license there. Has anyone used or heard about the Allied Real Estate School to get the required education for the license? If so, what are your thoughts? Thank you for the help.

This is a great forum post. Thanks for starting it. I'm going to be stationed in that area next summer. Coming from Okinawa, Japan. I'm interested to research what is working in that market area. My focus is buy and hold multifamily properties

Hope everyone is doing well!!! Does anyone know of a new "up and coming" real estate agent in London? Thank you!!! Sam

This would be a great idea. I'm in.

Hey man, as a few others have said, don't worry about the naysayers. Set your goals high in order to achieve greater success. And again as a few others have said, find a mentor and offer value to that person. Offer to do some work for them either on their properties or in their office. I'm living overseas right now and was able to find one in the area I want to invest in. I've been helping him with some email coordination. In turn he has been answering some questions i have or at least pointing me in the right direction where I can research the answer. I'm 31, about to be 32 and wish I would have gotten the fire lit before I moved overseas. One opportunity you have is the networking groups you can attend. Once I get back to the states in a couple years, I'm going to join a few local real estate networking groups. 

Also, as my mentor told me, get rid of bad debt like car payments and credit card debt. I suggest the snowball method if you have any debt. If you want, I have a snowball calculator i can send you. Just shoot me a PM with your email address and I will send it.

Hope this helps. I know its very broad and probably something you knew already. Keep your goals high. Start developing a strategy to make small and large steps towards your big goals. 

@Dennis Canon I will PM you. That's exactly what I was looking for. An example of what this would look like with numbers.

@Bill Gulley So hard money lending is different than private money lending? I understand that private money can come from various sources such as family and friends. I'm more looking at what an example would look like with numbers.

As you can see I am very ignorant to this subject. So I will throw out an example of what I think it is. Please correct me if that the wrong idea.

Say I need $70,000 to buy a rehab that I plan on holding after fixing up. Using the BRRRR method.

I ask a family friend to borrow $70,000 and they want 8% returns on it. We agreed that I would pay that back over 2 years. Total loan would be 75,600. Payments would be $1,000/month (equaling 23,000 over 23 months) with a balloon payment of $52,500 the last month. 

Am I understanding this correctly? I understand that there are many many ways to be creative with the structure but I do not know where to begin to understand any structure other than a conventional loan. 

Good day all. I am trying to understand how a deal could look in terms of private/hard money lending. I understand the sources but I do not understand how an example deals' structure could look for a buy and hold investment. I understand conventional loans and such, just having trouble understanding terms with private money.

I tried researching the topic but only found what private lending is and the sources. I am looking to try to understand what an actual deal could look like. 

Can one of you give me a very basic example or a previous deal you may have made so I can get out of this researchers block I have going on?

I don't know if I am asking the right question with this so some guidance would be much appreciated. 

I am asking this to add knowledge to my toolbox because this is one knowledge area I am completely lost at.

I'm stationed in Okinawa as well. A meetup would be great to get around like minded individuals and share ideas.

I have my property rented out through Swansboro Port Realty. Jeff Price, the owner, is a very smart guy.