All Forum Posts by: Sharee Mason

@Ken Nelson good to know!

I am in the Charleston market, working mostly with military clients and investors.  I am a Realtor and investor, and would love to connect with other agents, investors, or general real estate enthusiasts.  Feel free to colleague request and keep in touch. 

I have a friend who wants to sell in Jackson, TN.  I'd love to refer her to a BP agent if possible.   

Thank you all! It sounds like maybe the issue is that my HML money will just show up as a one time deposit, and the lender won't look kindly on that. Maybe I'll try HML the whole thing and then refinance. My HML is a real estate investor friend of mine who buys 500k-million dollar properties in cash. He is in a different market than I am, and my investment is only 120k. He's definitely capable of doing that, but what do you suggest I offer him to make it worth his time? And how quickly can I refinance once I've purchased it?

All of my previous investments have been financed as primary residences, because I lived in them first and then moved and rented. This time around I am wanting to purchase an investment using a loan (I have always used VA in the past but was told I cannot use it for an investment), and my lender is telling me that I need to put 15% down (19k in my case). I told her that I plan on using a hard money lender and that I'd get back to her, and she replied that I am not allowed to use "gift money" for the downpayment. Am I missing something or does she just not know what hard money lending is?

Just a couple of things to point out about this article:

-Some agents, like me, have been investors for a while but only recently became licensed.  It's important to ask for the fully story.  Just disqualifying someone because of their time licensed may mean that you miss out on working with investor-savvy agents who know the process first-hand.

-85% of business coming from investors is ridiculously high.  I don't know a single successful agent who has that amount of work from investors.  I may be a relatively new agent, but I've been investing for years, grew up in the business with my entire family either agents, brokers, investors, or flippers, and I still can't think of an agent that does more than 40% of their business with investors.  Keep in mind that agents make less on their investor clients per deal on the buying side.  It's important for us to have a well rounded group of clients to keep a healthy cash flow coming into our business.  

Welcome! Arturo are you currently connected with a Realtor in this area? I'm in Summerville as well and would love to help you find properties to invest in. I can set a custom search to email you however often you'd like with properties meeting your criteria. It's good to start that early even though you're not wanting to invest right away. Using the BP calculator to run the numbers on a few properties with the characteristics you want will help you get a feel for the market and the potential ROI for you. I just ran one yesterday for a property in Ladson and the calculator was super easy to use and very helpful in creating a picture of what that investment would look like long-term. Let me know if I can help at all!

Sharee

Welcome to BP!  Out of curiosity, are you already established with a Realtor in this area?  I operate out of Summerville and would love to set you up with a custom search for multifamily listings in Goose Creek and the surrounding areas.  As a buyer, my services are free to you.  I'm also interested in investing in multifamily but I'm not ready yet, so I'd love to follow your progress and learn as you go.  I'm currently in the process of purchasing an investment in Ladson that's going to cash flow really well, but I'm probably a year or more out from looking at a multifamily myself.

Welcome to BP!  Glad to see someone so young and goal oriented.  Good luck in your endeavors!

Welcome to BP!  Glad to see someone so young and goal oriented.  Wish I would have stepped up at 23 and started then, but it's never too late.  Good luck in your endeavors!

Welcome to BP.  Thank you for your service!