All Forum Posts by: Steven Nitschke

How are young investors with not a ton of credit history supposed to scale fast and build a portfolio when banks aren’t willing to loan multiple property mortgages in short amount of time? I have $ for down payments but they still don’t want to take the risk. Help!!!

Hey guys, so I’m currently in the process of building my rental property portfolio. I currently have a private money lender willing to help with deals, and finance solid properties. I have 2 questions within this topic:

If you have ever had a private money lender, what is an appropriate/possible way to negotiate paying initial investment back in the future and what they would receive over the top? A percentage of ownership? A percentage of rental income? I’m just not sure how people who execute deals with hard money lenders willing to pay for houses in cash, work out repayment agreements.

My other question say you were to buy the property, rehab, and refinance, how does that process work. Could you refinance the property, and then pull the initial investment of the private money lender out and then repay them immediately, plus a % over the top and then you would own the building free and clear on the refinance loan? I know these are probably basic and clear questions for a lot of you but any help is greatly appreciated. Thanks!

If you were faced with the challenge you have to make a million in the next 60 months without including your 9-5 W-2 job, what’s your plan of attack? Start to finish.

Hey guys(girls)

Let me start with a little background

>Im 23

>Live in SE Wisconsin

>Dropped out of College in 2015 because wasn’t sure my direction

>4 yrs working full time for family owned HVAC business (730-430 M-F)

-HIGHLY Interested in real estate and land development for 2-3 years

>Last year bought 2, 2-fam lots

-Built/sold 2, 2 fam condos

-Gained capital that I want to reinvest

>Just closed on my 3rd duplex lot going to begin building in May

>Just purchased my first rental property:(Hartford Wi duplex)

-Trying to diversify portfolio

-Paid 200k 10% down

-Rents 850 per side (thinking about upping rents, also want to incorporate a BRRR process)

This is currently where I’m at^. I’m basically at a point where I don’t want to stick my neck out too far while starting out, without proper knowledge/experience. Met with a few great people while networking and searching for mentors. Some suggest I go back to school to apply my current knowledge and build around that with some sort of business/real estate investing classes/courses/certificates/associates degrees.

I currently am reading books, forums, listening to BP podcasts daily trying to gain as much knowledge while still handling my “9-5” and also my portfolio I mentioned above.

I want to keep growing, but I don’t want to get ahead of myself, are there any degrees or programs that I can take to kind of get a better grip on analyzing markets, valuing assets, and gain other essential skills needed for a real estate investment career? At some point I’d be interested in getting my realtor license as well.

If you guys can provide me with any advice I’d really appreciate it. Keep buying rentals with capital and financing & diversifying & building my portfolio while learning on the fly or step back and sharpen some corners in my brain so I go at it with a more fundamental and knowledgeable approach??

Thank you & I love this page/BP community!!

Hey guys(girls)

Let me start with a little background

>Im 23

>Live in SE Wisconsin

>Dropped out of College in 2015 because wasn’t sure my direction

>4 yrs working full time for family owned HVAC business (730-430 M-F)

-HIGHLY Interested in real estate and land development for 2-3 years

>Last year bought 2, 2-fam lots

-Built/sold 2, 2 fam condos

-Gained capital that I want to reinvest

>Just closed on my 3rd duplex lot going to begin building in May

>Just purchased my first rental property:(Hartford Wi duplex)

-Trying to diversify portfolio

-Paid 200k 10% down

-Rents 850 per side (thinking about upping rents, also want to incorporate a BRRR process)

This is currently where I’m at^. I’m basically at a point where I don’t want to stick my neck out too far while starting out, without proper knowledge/experience. Met with a few great people while networking and searching for mentors. Some suggest I go back to school to apply my current knowledge and build around that with some sort of business/real estate investing classes/courses/certificates/associates degrees.

I currently am reading books, forums, listening to BP podcasts daily trying to gain as much knowledge while still handling my “9-5” and also my portfolio I mentioned above.

I want to keep growing, but I don’t want to get ahead of myself, are there any degrees or programs that I can take to kind of get a better grip on analyzing markets, valuing assets, and gain other essential skills needed for a real estate investment career? At some point I’d be interested in getting my realtor license as well.

If you guys can provide me with any advice I’d really appreciate it. Keep buying rentals with capital and financing & diversifying & building my portfolio while learning on the fly or step back and sharpen some corners in my brain so I go at it with a more fundamental and knowledgeable approach??

Thank you & I love this page/BP community!!

Are there any stairwell/fire codes for building a room/ above a garage in a SOG side by side condominium, if i were to put a stairwell inside of the living space, entering off of a landing above the garage where the opening of a bedroom or office would be?

Hello friends, before hand i would like to say thank you for anyone taking the time to read/help/offer advice or criticism.

I’m interested in a piece of property (ag land) for possibly developing a subdivision (roads, sewer, subdividing lots)

This property is currently not for sale, but I have a feeling for the right price the property owner would be willing to split way with all/some of the land.

I have the capital/hard money investors available to handle a project this size and I realize what I’m getting involved with (permits, zoning etc)

My question (s) what would be the correct way at going about contacting the owner of the property to see if they would be willing to sell for a future development project. If I’m looking at subdividing these lots in .5 or 1 acre, how many acres minimum would i need to make the project worth my overhead of roads sewer etc.

Thanks again!

Okay so I’m pretty new to development, and the most confusing part to me is the taxes, capital gains subject.

Is building and selling 2 family condos considered under capital gains tax? How does the process work with buying/selling receiving your profits and then paying taxes on these profits? Thanks in advance for any/all help!

@Nick Marrs appreciate the input, you mind direct messaging for a little more expansion on the concrete/wood framing oversight? Would like to run some thoughts past you if possible!

@Greg Dickerson thank you for the response!

I guess i didn't include enough background. I'm pretty involved in the construction process, and have been working in the trades for a number of years, i personally don't like the feeling/anxiety of not being able to be on the job site daily and trusting someone else to deal with aspects of the job. I suppose that is a downfall of me wanting to be a developer but i feel much more comfortable/confident being in the driver seat with the project, even if the ROI doesn't make sense saving the 4%. Thanks again for input.