All Forum Posts by: Brian H.

@Gregory Brunson I am very new myself. Did first flip this year and just closed on 12/20 on my first buy and holds. Do you have any capital at all? How much? If none at all, becareful about jumping into another. While, sure, you can come up with all types of methods to come up with down payment... You need cash in the bank after that. You need a little liquidity in case you need to throw a sizeable chunk into a new roof or something. If you have that.... Look at different hard money lenders, if you are interested in flipping. If you want to grab buy and holds, maybe see if seller is willing to seller finance with little to no money down? Maybe you get a loan and the seller finances the down payment? But you have to have some money in the bank after all that.

I'm a new landlord. I have one section 8 tenant in one of my units. Does a government shutdown affect getting section 8 payments? It isnt the right time of month to affect me but I was just curious in general.

My first goal, financially, is to stop running a damn kitchen. Most mentally exhausting undertaking of my life. Been doing it for a while. 70+ hour weeks 52 weeks a year.  Also have 5 rental properties now totalling 11 units.  

So, when I can make what I make now at the restaurant (~$52k) I will be ecstatic. But, even then, if I can, I will stick with the restaurant to pay off all my and my girlfriend's debt, set up college funds for the kids, etc. Getting out of the restaurant is my biggest goal at this point, which also means debt is paid off. At that point I consider myself "retired" because I will just work for me doing REI.

My longterm FI goal would be about $150k - $200k. I hope to be there in about 10 years... but maybe sooner.

@Chris Mason I too heard that podcast, can't remember which one it was. I was also disgusted by that. Even though there were only minutes left in that episode, I turned it off immediately and vowed to not take any of Cardone's advice moving forward. There are so many places and people from which we can educate ourselves and get good, sound, healthy investig advice. When I heard him tell that poor guy to basically "Just give me that last $3,000 in your pocket!"... I was done with him. Like a shark circling their prey. Disgusting.

@James Gibbons Welcome! You have come to the right place. You are also correct. All that information is here and it absolutely requires a bit of your time to go through it all and find what you are looking for. Finding deals is easy and hard. Just depends on who you know, how hard you are willing to work, what sort of MLS access you have (even if it is just emails setup from agents), etc. Finding the money? Well there are so many methods. The most common is just finding the funds yourself through saving and starting with a down payment that way. Could also talk to other people that may be interested in joining you and who may have some extra cash themselves. You need some money in the bank though. Even if you have enough for a down payment, do you have more for repairs/rehab and stuff like that? I feel like the most important thing you can do is take it SLOW. Spend a good year educating yourself and figuring out how you can come up with the money. I spent almost 1.5 years just reading books, here on the forums, and on the blog before I ever even considered jumping in and starting investing. I'm so glad I did. There is a lot of risk in this, but not as much if you are educated. Granted experience teaches you a ton as well. Just take it slow. That's the biggest thing. Don't jump in too quick and lose your shirt.

@Josh Kravets Welcome to the BiggerPockets forums buddy! Man, it sounds like you have a great headstart with that sort of experience. That is just the sort of stuff I want to learn myself for where I currently live. It's all about the off market deals! I wish you luck, friend!

@Douglas Gratz I'm not able to answer based on your location but from my experience, most smaller, local banks seem to do portfolio loans. I will start reaching out to them! That is where I have had my best success where I live.

@Eskindrias Tegegne I'm not from anywhere near you but I wanted to say welcome to the forums! Also, congratulations on saving 70% of your income! That's awesome man! Keep it up and good luck!

@Robert Cooper There are so may avenues for financing properties. @Brandon Turner has a book published by BP about purchasing properties with none of your own money in the game. You could always see if a seller is willing to seller finance the down payment. Are you looking to house hack? Then you could get one of the low.dowbpaylent loans I believe. I'm sure there are many others that can chime in with much more experience than I!

@Cory Zach First off, welcome! Second, without any specific questions from you the. Eat I can offer is to tell you to peruse the forums and read. Same with the blog! Tons of valuable info, especially for beginners!!