All Forum Posts by: Shai Flax

@Jesse Krall only demo?

I think this strategy will work great in areas where the housing is really expensive like Seattle, San Fransisco, etc. The people who live in those place sometimes have to rent by the room since it's SO expensive.

But I think that close to Universities or hospitals that might work. I think it has to be within walking distance tho...

That's my opinion of course. 

@David Drinnon welcome!

You, my friend, have an unfair advantage because you are a contractor so that can be a great thing for you. Are you only do electricity or other rehab stuff? You can definitely find a seasoned investor to partner with and do your first deal together. I did a course and I think that it's was useless (for me) and the best thing to do is just learning through work.

Also, start analyzing deals. Reach out to an agent that will set up a search for your criteria on the MLS and just analyze deals every day. Eventually, you'll know when you'll find something good.

Feel free to reach out with any questions.

Hi @Dustin Phillips, welcome to BP!

Great job on deciding that, it's not easy but fun (sometimes haha) and rewarding.

Can you tell us what you've already decided to do (what method did you choose) or if you need any help with resources.

Feel free to DM me with any question that you have, we have all been newbies once:)

@Louisa Davis feel free to DM me too if you need any help:)

Hi @Philip Marzen, welcome!

What about doing some creative deals like owner finance? Or house hack? You can get an FHA loan for 3.5% down which is crazy!

Hi Eylon,

I think the first thing will be to define what are your REI goals. Are you going to flip houses? To buy&hold? To BRRRR? To STR? Each method has a different approach and different areas to invest in...

Feel free to reach out:)

Hi BP!

I'm an American citizen (but not a resident). I've built my credit score in the past few months and it's high enough to get a mortgage.

BUT-  as an OOC investor, I'm really not familiar with all the mortgage opportunities and all the programs that are available for me. 

Do any of you have a mortgage advisor or someone that I can talk to who can help me find the best finance for me?

(I'm not looking for HML, I've already used one, I want financing that is not 60% LTV...).

Thank you in advance,

Shai

Hi @Justin Glatz, I'm an out-of-the-country investor in PGH so I know what you're talking about...

First, I would highly recommend reading David Greene's Book Long-distance REI. It helped me a lot.

You have one thing that I didn't have- you know the city and you prob have some friends and family there who can let you know if something has changed in some area.

A good start is finding a good agent who understands what an OOS investor needs like facetime in the property, referrals, etc. The agent will prob know other key players such as a lender, property manager, contractor, etc. 

You need to decide what method you are going to be doing- flip, buy&hold, BRRRR, etc and then you can look more closely in certain neighborhoods.

I'm a buy&hold investor, looking to BRRRR my next deal. Feel free to reach out if you need anything.

Good luck! 

@Steven Foster Wilson Thanks!

@Steven Foster Wilson What do you mean by "mass texting"? I'm looking for something to text my agent, contractor, etc.