All Forum Posts by: Steve Adler

@Steve Adler a lot of variables at play here man, and to be honest I'm probably not the most suitable person to be giving such major life advice, but a couple things do come to mind. First, is your girlfriend employed? If business is not going well for you, having this to fall back on to ensure income is viable each month will certianly help. Second, have you had any sales experience or dealings with investment properties before? To be blunt, this industry can be ruthless. A lot of rejection and hassle. Do you have the time and resources to maybe start out as a part time agent? I would consider seeing if you can get a deal or two done while still working full-time in finance.

The entrpreneur part of me wants to tell you to go for it, but then again, I don't have any kids nor any major responsibilites so, it's a totally different position.

She actually is a realtor herself. Also income would not be an issue for the first year because my salary would be paid!

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Originally posted by @Joshua Strickland:

@Steve Adler A $250k down payment should get you around a $1 million dollar property. In the right area that property can gross anywhere from $125k - $200k (current STR market, which could change). As long as you manage it right you should be able to net your goal plus potentially a decent amount more.

Just make sure you aren't taking on too much risk and have plenty of reserves. STR is a mix of real estate investing and a business so I would caution going all in on your first one.

Do you mind if I message you ?

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Originally posted by @Joshua Strickland:

Debt Service Coverage Ratio loan is what you need.

I will look into it. Thank you! Do you feel like I have enough capital to get close to my goal?

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Originally posted by @Matthew Crivelli:

Why won't you qualify? Use hard money. You wont have to worry about DTI, tax returns or income verification. If it's credit where you lack you can easily add someone to the loan and use there qualifying score. If you have 250k to invest you are way ahead of the game my friend. Private money is the way to go.

I was just under the assumption that HML is more for flips and getting in and out of a property fast?

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Hey BP community, I have a crazy scenario to throw at you, that could be really scary but everything I have been praying for.

I hate my job. I work in finance and every Sunday I start to get in a bad mood because it’s the start of a new work week. Great company, I’m just a VERY entrepreneurial person who would love to work for himself and get paid based off my results. I have been obsessing over real estate and the power of real estate for the past 4 years. If I HAD to work my dream job would be a realtor- im very networked and known in my community, and with my passion for real estate and work ethic I know I could do great. I was actually preparing to do that, but then my girlfriend and I ended up having our son (he’s amazing).

Okay so that’s the background. My dad knows how much I hate my finance job, and sees my passion for real estate so he has offered me this. 1 year to pursue being an agent, and an investor (flips, brrrrs). He will pay my salary for a year, and give me a 200k loan for flips, BRRRRs, or whatever I want investment wise.

I want to say it’s a no brainer, but it is also scary, simply because I have a son now and work for a great company. But I have been able to generate leads while working, and I know if real estate was my one focus I could kill it.

Would you take this opportunity?

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Hey BP Community, I am glad Tiktok has introduced me to this website haha! I have been following the STR method and researching on it, and I wanted to pick everyone's Brain on it.

I have $250k cash to invest, and I'd prefer to do it in STR, and get as close to my goal of 4-5k cash flow possible. The problem is I am pretty positive I won't qualify if I tried to use that downpayment on a 1M property. So if you were in my shoes what would you do?

I have another possibility in my head but, that’s for another post. I look forward to hearing from you all!

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All Forum Posts by: Steve Adler

Steve Adler has started 7 posts and replied 26 times.

Post: Would you leave your job in this situation?

Post: Downpayment, but won’t qualify. Any options?

Post: Downpayment, but won’t qualify. Any options?

Post: Downpayment, but won’t qualify. Any options?

Post: Would you leave your job in this situation?

Post: Downpayment, but won’t qualify. Any options?