All Forum Posts by: Tyler Hardy

@Kenneth Blacow just for future info, you can tag someone on a forum if you are friends with that person (they've accepted a connection request from you), or if they posted on the same forum thread already. Took me a while to figure that one out.

@D'Andre Byers I'm in the exact same boat! The only difference is I've been married 10 years. My wife is very cautious about real estate investing and doesn't even want to discuss it most days. Her parents were both real estate agents before the crash and lost basically everything, which is made her apprehensive. I've been struggling throughout the years to explain to her that the younger we start, the younger we retire. My issue now is that most of my net worth is in the equity of my house. I tried to discuss with her about a home equity line but I get the same "I don't want to talk about it."

Being raised very fiscally minded and also having a dad that owned a rental property. I know the value in it. The problem is that I can't force my wife just see what I see.

@Donte Jones I know of a few builders in my local area south of Atlanta but I'm not sure of anyone that works with properties at that square foot range. Where are you looking to build? Is this for a personal home or an investment property?

@Michael King I won't be able to attend Saturday but I'll tag in a friend of mine that works with mobile homes, @Josh McCullough. He may be interested. Good luck and let me know how it goes! I'd like to know what you think about starting your meetup.

@Michael King I'm in the same boat. I attend a local Meetup in Fayetteville and I've had some pretty good interactions, but it's not exactly what I'm looking for. The way they structure it is about 30 minutes of networking, a speaker talks about a topic for about 30 minutes, and then another 30 minutes or so of networking. The only issue I have is that it's a fairly small room full of people yelling and it's always hard to carry on a conversation. I'm planning on starting a meet-up of my own on the South Side, probably around McDonough or Locust Grove, and it will be primarily networking based. My goal is to meet at a bar or restaurant and just have people talk about real estate. More of a dating mixer than hey presentation type event. I know that's a long drive for you, especially since you work at nights, but I will keep you in mind when I put it together and see if it works with your schedule.

This is exact info I needed. Thanks for all of your help. I understand that a hard money lender would want first position but I didn't think about the primary lender wanting to trace the down payment. I was planning on using this strategy to take on larger opportunities with less up front capital. But it sounds like that HELOC would be better served as incentive for a partner. Thanks for the help BP!

I've never used hard money lender before, I was wondering if it's fairly common to use a hard money loan for a down payment on a commercial mortgage. I understand that hard money is generally geared towards the purchase of a property so let me give you the scenario I have in mind.

I'd like to get into larger multi-family but the up front capital is holding me back. My plan is to use a HELOC to secure a hard money loan. Then use the hard money loan to secure a commercial bank loan. Am I crazy? Does this work?

@Omar Faruk first off I'd like to say, I wish I would have had the guts and ambition at 18 to ask the question you just asked!

I would say that your smartest way in would be to house hack. You're lucky enough to live in a low cost Market that can start your real estate Journey off at a more reasonable price point. I'm not an expert on Detroit, but some of the research that I've done says that the city of Detroit offers incentives to buy properties to fix up. You may want to reach out to your local city office and asked if there is any subsidies in place for guys like you. Then, go find a duplex, Triplex, or 4 unit. Rent out the rest of the property and save the returns. Don't forget, treat the income from the property as long-term savings, and don't spend it! Good luck!

Thanks @Sam Teifke for the feedback! I may be taking your advice in the near future and asking you about a property that needs a full reno. I see you're a contractor and may be able to help.

@Kayla Pronesti I'll send you a PM. I just looked at a property in Bradenton the other day and I would like to know your opinion on it. The numbers don't look like they make sense to me as an investment, but you may have another insight on it. On another note, if you're looking to get into commercial, I may have another property that peak your interest.

I have been itching to launch my real estate investment future for far too long now. I have sedated on a number of different avenues to start with, from wholesaling, single-family, small multifamily, and large multi-family. I have been drawn more and more towards commercial multifamily (more than 5 units) and it's brought up personal questions I have to ask myself. The biggest question being, do I need a partner or a mentor?

I've been researching for years and run numbers on hundreds of properties. I've got a few ideas of markets that I'd like to look into, and even selected a few properties within those markets. While I've never invested in real estate, per say, I have owned three homes myself. This gives me the experience that I would need for a single-family investment but not necessarily a large multi-family.

I've been attending real estate meetups and trying to rub elbows with investors in the large multi-family space, but this has proven to be a challenge. So I thought I would ask the BiggerPockets Community for some opinions and insight. I have a stable full-time job which would offer me a better loan package then a new investor, but I don't have the investment credibility or experience that a commercial loan officer would require. Should I be looking for a partner to join up with on a deal, or a mentor that I can simply bounce information off of?

Just to tag some keywords, I would be interested in properties in Georgia, Florida, Alabama, Jacksonville, Tampa, Daytona Beach, vacation rentals and Str in Panama City Beach, 30A, Destin, Atlanta, OTP, I've even found a property I'm interested in in Valdosta Georgia. If anyone has any insight or opinions they think I could benefit from, please let me know.