All Forum Posts by: Todd Wheatley

Are you interested in learning more about real estate investing? Did you know you can get started with 5% down or less?

Join us at TOUR Portsmouth Thursday 2/15 at 6:30pm for our Simplified Real Estate Investment meetup! Our guest speaker is Jessica Fermin of Berkshire Bank, an experienced residential loan officer and master of the owner-occupied investor space! Jessica will walk us through the best loan options for real estate investors including Fannie Mae's new 5% down conventional loan. This new loan introduces another great tool that investors at all levels can take advantage of. If your thinking about getting started in real estate investing or want a deep dive on this new 5% down loan you won't want to miss this event! There will also be plenty of time for networking with local real estate investors and industry professionals!These events are FREE and open to the public! We look forward to seeing you there!#realestate #realestateinvesting #networking #knowledgeispower #seacoastnh #realestatewholesaler #portsmouthnh #fanniemae #LOWDOWNPAYMENT #mortgagetips

Are you interested in learning more about real estate investing? Join us at Craft Food Hall Project in Waltham on Tuesday 1/23 at 6:30pm for our Simplified Real Estate Investment meetup! Our guest speaker is Michael Chadwick of Asset Based Lending LLC - a leader in hard money lending for real estate investors. Hard money lending is a powerful too available to real estate investors such as developers and fix-and-flippers. Michael and the team at ABL have closed thousands of transactions totaling over $2B in volume! Michael will walk us through how hard money lending works as well as important information that investors need to know before using it. If you've ever wanted to learn more about this powerful real estate investing tool you won't want to miss this meetup! There will also be plenty of time for networking with local real estate investors and industry professionals! These events are FREE and open to the public! We look forward to seeing you there!#realestate #realestateinvesting #networking #knowledgeispower #greaterboston #realestatewholesaler #walthamma #bostonma #hardmoneylending #hardmoneyloan

This was a FUN one!

Hey Carina,

Welcome to Boston! If you are thinking about being here awhile and buying your primary residence / multi-family here are you open to investing in the rental property a bit closer to home? You could likely find something that meets your price point about an hour from the city. Let me know if you'd like to chat about some ideas.

Happy investing!

-Todd

Hey Peter,

Investing out of state can be great, it's how I got started for the same reason you mention. However, a word of caution is if price is the only reason you are looking to invest out of state you may want to rethink your strategy. While you may achieve your price point / cash flow goals, investing out of state introduces a number of new challenges. You MUST have a rockstar boots on the ground team in your market since you won't be living nearby, this can be difficult while you're getting started and don't have a large portfolio. If something goes wrong with the house, your tenant, or your team you might be a plane flight away from being able to address the problem yourself which requires substantial time and money.

Not trying to turn you away from investing out of state, it can be GREAT if done correctly. But as someone who has sold his out of state portfolio in favor of investing locally and working with MANY other people that have done the same I just wanted to share the experience.

Give me a shout if you want to chat more. Best of luck with your investing!

-Todd

Hey Luke, congrats on the success. Make sure you connect with Adam Curry and Robby Allen at Key Property Partners. They were my GO TO guys when I was investing in Cinci.

Happy Investing!

Thanks for the mention Kyle.

@Michael Wyatt - as Kyle mentioned we host 6 meetups in MA and Southern NH each month, including 1 virtual one. The closest one to Boston is Waltham and usually has about 30 attendees. Our meetup in Lowell last Thursday had over 75. We have folks of all experience levels attend these free meetups. Hope to see you at one soon!

Great question! This is a challenge for ALL new agents - you are not alone.

Focus on your direct sphere of influence (e.g. friends, family, co-workers, etc). Make sure EVERYONE knows you got your license and what areas of real estate sales you focus on (e.g. buyer's agent, seller's agent, investment, etc). Get your first couple of deals through this network and get some reps under your belt.

You should also consider joining the BEST team in your market that focuses on the types of sales you want to focus on. The first 6-12 months WILL be a grind but that time is what separates the agents that quit and the ones that become successful over multiple years.

Good luck!

Sounds like you are in the midst of a HUGE life decision - wow!

I am a big believer that younger folks should not incur a huge education expense unless they intend to pursue a career in which that degree or program is required to maximize their income. It sounds like you have no intention of pursuing a career in formal law and therefore I'm not sure why you would incur the time and expense of getting a law degree. What is the opportunity cost of that time and money that could be used on the career you WANT to pursue, likely huge!

Best of luck considering your options and making the BEST decision for YOU!

Congrats on getting started with real estate!

Can you elaborate on why the conventional lending options are working in your favor? You mention having a good credit score and decent amount of funds saved so knowing exactly what is causing the options not to work will be helpful.

Seller financing can be a great option for both buyer and seller but isn't the easiest method of financing to start with. I would encourage you to think about seller financing through the seller's perspective - what will benefit them? They will 1) need to trust you as the buyer so focus on building that trust every time you speak with a prospective seller 2) want a steady source of income via your loan payments. This can be a great option for sellers looking for a fixed income stream (e.g. retirees, self-employed, etc).

Good luck!