All Forum Posts by: Stephanie Collado

@jacobsampson Thank you so much for your response. When starting an LLC, did you use a personal address? did you go through an agent to get started ?

Hello! I'm currently brainstorming with a group of individuals regarding starting our own real estate business, buying properties, and converting them into rentals, But, we seem to have conflicting ways on how to go about it. My partners want to purchase the domain ( we did this) create a website (did this) and get the LLC, what I feel is we should start trying to get the funds first before moving forward with anything. My plan is to take some construction management classes, acquire a real estate license, learn how to evaluate properties to then start wholesaling and getting money from that, to put down on a rental property. Can someone help and give some guidance ! Thanks! Love BIGGER POCKETS!!

@Aaron K. Thank you for your response ! Would you be able to provide a breakdown on how it works ? Do we pay interest on a monthly basis ? And being that we are just establishing “property portfolio” is it true that in most cases they’re only going to fund up to 80% of purchase price. (EXAMPLE)

Purchase cost: $20,000

Hard Money Lender: $16,000

Me: responsible for $4,000

Will they require a small percent upfront because it’s our first ?

What are the determining factors ? Does is vary depending on the lender ?

Thank you for your time !

Where can you get them ? How does it work ? Is this the best option ? Is it worth it ?

Where do you even start? How do you know what property to buy first ? Where do you get contacts from , investor intro 101