All Forum Posts by: Shannon Niemiec

I would consider wholesaling. You can save the profit from those to buy a house with positive cash flow. My husband and I wholesale with full time jobs. Look into automating your wholesale business. There are so many different ways to do this and be successful.

Anyone in Savannah...I'm looking for an investor friendly title company. Any advice on zip codes to stay away from would be helpful too.

Hi. Does anyone have the above form available?

Hi Laura. My husband and I are wholesalers here in Jacksonville. If you are looking for a REIA in town, here is the link for JaxReia. http://jaxreia.org. It's a really good group, lots of good knowledge. They have classes once a week and a main meeting once a month. I am pretty sure that you can attend 2 of the classes for free. I hope this helps. Hopefully we can connect on something in the future.

Hi Dan. It is easy when you buy and hold to tap out of being able to get loans from banks pretty quickly due to debt to income ratio. I would suggest speaking with investors in your local real estate investor association group about private lenders. Investor have had to get pretty creative to build wealth since banks have those stipulations. I would personally stay clear of banks and use creative ways of financing. If you find your local reia group, they will completely understand what you are doing and will point you into the right direction.

Hi Jake. It depends on how much you get for rent from the trailer. Do you own the land that it's on free and clear? How much will it take you to get it ready to rent and how long?

Find a good real estate agent or broker to run the comps on the house you are living in and considering buying. you also need to know exactly how much he owes and get clarification on the taxes. This way you can look at the comps and see if this is a good deal.

Hi Andy. I would suggest going to your local real estate investor association. They have education, networking and basically everything you need to know to get started in your city. I highly suggest a mentor, however, please be careful for out of town mentors that are doing seminars, charging a lot and then leaving your city. You can find a mentor at you local reia group who will know your city specifically and work with you closely. Now it may come at a cost but after you get to know the mentor you can decide whether or not they are the right person to invest your time and money into. Always do your own due diligence. Welcome to the wonderful world of real estate investing.

@Mark Nolan Great suggestion! 

So I opened a self directed IRA and it only has 7k in it. I am eager to invest in a real estate flip using it and was considering letting my local REIA group know that I am willing to loan it. However, I feel silly as it is so little to loan and they would still have to pay my IRA back the percentage that was invested into their deal. My husband suggests we wait and just use it on our first flip when we find it. Any advice would be appreciated as self directed IRA's are new to me. What would you do?

@Matthew Nixon Thank you. Very helpful info!