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All Forum Posts by: Sean Beksinski

Sean Beksinski has started 13 posts and replied 39 times.

Post: Can you use lenders to fund?

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12
Quote from @Joe Villeneuve:

Yes,...and please don't take offense to this, but if that's the first question you have, you are a long, long way from starting.  I would suggest you spend a lot of time online getting info and a lot of time joining as many RE investment groups as you can find (do an internet search) in your area...and join them, attend all the meetings you can, sit back, listen, and then ask a lot of questions after you've attended many meetings.


 Love what Joe said I would add that I would consider looking for a good Loan Officer in your area that can draw you a road map for acquiring your first property. Keep in mind what he said as well though because you need to make sure your are investing and not gambling. 

Post: Down Payment Options (HELOC/Refi)?

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12
Quote from @Harrison Sharp:
Quote from @Sharon Cain:

Similar situation, except i just have my primary home at 2.45% 30 yr fix. I am in the DFW area also and was wondering the same thing, should i do a HELOC or Refi to help fund my first buy and hold? or keep saving and just wait? ......following.


I would not refi out of that rate right now, for your scenario based on the limited info i would try and go HELOC


HELOC is 100% the way to go.

Post: Down Payment Options (HELOC/Refi)?

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12
Quote from @Mary Eubanks:

I am a Real Estate agent in the DFW area. We are wanting to begin our investment portfolio using the BRRRR method or via new construction. However, we need assistance in figuring out where the down payment will come from. Here is our situation.

We have two homes, our primary & a secondary at the lake we just renovated. We put both of these on a 10 yr mortgage at 2.35% interest. I was able to save enough money for a 10% down payment along with cash to renovate the lake house. However, real estate has slowed its pace and I'm not making hand over fist like I was last year, so we need to figure out where a 20% down payment & closing costs will come from. We have 5 months of savings to cover existing bills. We are finishing the furnishing stage of the secondary lake home so we can begin AirBnb to generate some cash flow. 

I talked to our local bank regarding a HELOC on our primary home that we have about $400K equity in ($750K value), but because we took out 10 yr mortgages, our DTI is too high to be approved for $150K HELOC. Is my only option to refi one of my mortgages to a 30 year or is there another option?

I appreciate your time!
 


 Depends, what is the mortgage on the Airbnb ? 

Post: Do I need to become a real estate agent?

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12
Quote from @Hollee Mills:

Thank you for the thought provoking answers. I am interested in getting g experience in property management or project management. I've spent 20 years in healthcare who would I get started in that?


 Question I would ask yourself is who not how. When I bought my first property I developed a relationship with my lender and realtor. From that relationship I didn't give up until I got a opportunity in lending. Who do you know that is in real estate ? and out of those people who can refer you to a property management company? Hope these insights are helpful.

Post: Do I need to become a real estate agent?

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12

I agree with Nathan. I also want to add a little touch and say that if you are really struggling to get started, finding a profession within the real estate business is great! I was a plumber and door to door sales person prior to becoming a lender and I was in the "analysis paralysis" pit for about 6 years. When I became a lender it forced me to get connected with the right people and forced me to learn the business. If you feel stuck and real estate is REALLLLLY what you want, then I would analyze out of the core 4 ( prop. manager, lender, realtor and contractor ) which fits your personality best. 

That being said Nathan is not wrong, this is a person's lively hood and they will be less likely to want to work with someone who is part-time. If you think you would enjoy one of those roles I know it helps a ton because your building the right relationships, I hope this helps.

Post: New investor looking for advice

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12

Hold 10% for CapEX, so $150 a month should be saved. Depends on the area you are in but hope this video helps! Also feel free to reach out.

Post: Getting started in Cold calling

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12

Hello,

Im 24 y/o and I just bought my first house and I am looking to try acquiring properties through cold calling. I am a full time car salesman and have been in sales for a few years now. I am simply just trying to find the best way to get started in cold calling. Reason for me choosing cold calling is because of my field, also I have a amazing agent that got me my current house ( so i'm still combing the MLS ). I am not looking to be a "wholesaler" I posted this here because I feel like wholesalers are best at this form of lead generating.

I attend to be a buy and hold/Brrr investor, if I end up wholesaling a deal or two then i'll take it but my goal is 20k passive income (10k for me/10k under my wife's name). Is there a free option for finding leads to call ? or do they all cost monthly ? I look forward to everyone's response and would love to talk real estate with anyone. feel free to dm me and we can exchange numbers, social media, ect. 

Post: Finding a cash flow market

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12

@Dave Spooner you are probably the 5th to say Ohio. Connect with me and let’s talk more about it. I’m interested.

Post: Finding a cash flow market

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12

Hey my names Sean and I’m a full time car salesman living out of Maryland. I’m looking to hop into the small multi family space and was wondering what markets are better for cash flowing so I can get started on the basics. I was thinking Nashville or Orlando. I don’t have a ton of capital saved up yet but my job pays well enough and I have been putting money aside while I do my research and practice running my numbers. Any advice for getting started? Any class or courses you would recommend? Most importantly what markets would you say have great cash flow?

Post: Tips for new investors

Sean BeksinskiPosted
  • Lender
  • Glen Burnie, MD
  • Posts 39
  • Votes 12

@Gaetano Ciambriello

Also follow me follow and connect with me looking to network with lenders.