All Forum Posts by: Seth Timmerman

looks cool. do you guys have a meetup that meets in person? I'm about 2 hours away a little north of Pittsburgh. we have a roundtable / mastermind style meetup that meets every month or so. maybe we could visit you guys sometime or vice versa.

We meet on the 4th Thursday of the month at 6:30PM at Mountaineer Taphouse. I've been to ACRE the last two months is that what you're speaking of?

0 Votes

Morgantown, West Virginia

Hello Bigger Pockets Community,

We're excited to announce the next Mountaineer REIA event happening right here in Morgantown, WV! If you're an investor, real estate professional, or just someone interested in the real estate market, this is an event you won't want to miss.

📅 **Event Details: **

- **Date: ** October 26, 2023

- **Time: ** 6:30 PM

- **Location: ** Mountaineer Taphouse, Morgantown, WV

- **Event Name: ** Real Estate Networking Happy Hour

🍻 **Why You Should Attend: **

1. **Networking: ** This is a fantastic opportunity to meet like-minded individuals in the real estate industry. Whether you're a seasoned investor or a newbie, networking is crucial for your growth and success.

2. **Market Insights: ** Gain valuable insights into the Morgantown real estate market, including trends, upcoming legislation, and investment opportunities.

3. **Strategic Partnerships: ** Looking for your next joint venture or investment partner? You just might find them here.

4. **Happy Hour Specials: ** Enjoy exclusive drink specials available only to event attendees. It's a win-win situation!

🎟️ **How to RSVP: **

Please confirm your attendance by finding MOUNTAINEER REIA on MeetUp or Facebook.

We look forward to seeing you there!

Best regards,

The Mountaineer REIA Team

0 Votes

Morgantown, West Virginia

Ready to make 2024 your year of success? Join us at "Vision 2024: SMART goals to set up for your success"!

Discover the power of SMART goals – Specific, Measurable, Achievable, Relevant, and Time-bound.

Set clear goals for 2024 and leave with an actionable plan for success.

Network with like-minded individuals and get inspired!

Save the date and secure your spot now. Let's achieve greatness together!

ZOOM LINK

0 Votes

Morgantown, West Virginia

Quote from @Tyler Young:

Quote from @Seth Timmerman:

Quote from @Tyler Young:

Quote from @Seth Timmerman:

Quote from @Tyler Young:

I need some advice on securing a loan for my first property. I'm hitting roadblocks with lenders because I'm a new company, and private lenders are telling me that I haven't borrowed substantial amounts in the past. Does anyone have any tips on how to borrow money to kickstart my first Section 8 venture without having to deal with interest payments on a personal loan just to establish myself in the US financial system? Your insights would be greatly appreciated!

Being new comes with lots of challenges. Lenders want experience for a reason. Look into partnering on deals to start. Even if those deals aren't your end goal the experience gained is highly valuable. Hard Money / Bridge loans that are refinanced out to long term after a renovation and seasoning will help you get a deal funded. But working with a partner that is doing the deals similar to what you want to do will give you the ability to get your road map. It's not impossible to strike out on your own to start but the road is much harder. So many new investors I speak to are thinking so much about the long term without the knowledge of what it takes to get there.

The question I have about partnering is this, what benefit would a bank or lender see in me having partnered with someone on a few deals. Im all about knowledge and im looking forward to learning as much as possible from anyone and everyone I can. But if a partnership doesn't help me look better to a lender or help me get funding then what should I do now or in addition to a partnership?

The partnership shows experience completing a deal. Conventional banks are going to want to see financials for 2+ years which I'm assuming isn't an option for you just starting out. So, when it comes to Hard Money and Private money the lenders look at 2 things: the deal and the ability for the investor to make the deal happen. Going in with no experience a lender is not as comfortable that WHEN you find something unexpected you will be able to execute. Completing deals shows you will get them to the finish line. Also, a partner with experience serves as a type of mentor as well. You are able to tap into both their knowledge and their network. If you work with a partner and fund a deal or two with them at XYZ BANK and are able to pay them off through whatever exit you decide. Now you can go to XYZ BANK and tell them you're experienced and are looking at this deal. They will be more inclined to work with you by yourself. Then when you have a few solo deals completed ABC bank sees you have a track record of MULTIPLE deals and will be happy to lend to you.

Thank you this definitely answers my question! What kind of partnerships would you advise I look for? There are a few people I have contact with that are willing to help me with this process and may be possible partnerships but id love some advice on what kind of partnerships I could study up on to approach them with.

You can partner with folks that have the funding but no experience, folks with experience and the ability to help find the money or folks with experience and money. My question for you is do you have an actual deal you’re committed to or looking to commit to in the near future. Partnerships are all about the deal and its structure. If you don’t have a specific deal then network to find partners that will align with you gaining your needed experience and find out what would excite them and what their terms would be. Then use that information to find a deal.

0 Votes

Morgantown, West Virginia

@Tyler Young

0 Votes

Morgantown, West Virginia

Quote from @Paul Alphonsus:

Quote from @Seth Timmerman:

Quote from @Tyler Young:

Quote from @Seth Timmerman:

Quote from @Tyler Young:

Thank you @Seth Timmerman. I love how you put it and I have also gained from your explanation as I am also new and working towards doing my first deal. One thing I will suggest @Tyler is look for a property that will give you momentum like Brandon said and it does not have to be a home run.

I know must lenders want some commitment from you the buyer, if you can get a partner that will make some commitment with regards to the down payment and you bring all the sweat equity, I am thinking that can also work.

every deal for the first 2 years of my career was leveraging my time and construction knowledge with other people's money.

1 Vote

Morgantown, West Virginia

Hello Bigger Pockets Community,

📅 **Event Details: **

- **Date: ** September 28, 2023

- **Time: ** 6:30 PM

- **Location: ** Mountaineer Taphouse, Morgantown, WV

- **Event Name: ** Real Estate Networking Happy Hour

🍻 **Why You Should Attend: **

2. **Market Insights: ** Gain valuable insights into the Morgantown real estate market, including trends, upcoming legislation, and investment opportunities.

3. **Strategic Partnerships: ** Looking for your next joint venture or investment partner? You just might find them here.

4. **Happy Hour Specials: ** Enjoy exclusive drink specials available only to event attendees. It's a win-win situation!

🎟️ **How to RSVP: **

Please confirm your attendance by finding MOUNTAINEER REIA on MeetUp or Facebook.

We look forward to seeing you there!

Best regards,

The Mountaineer REIA Team

1 Vote

Morgantown, West Virginia

All Forum Posts by: Seth Timmerman

Seth Timmerman has started 18 posts and replied 40 times.

Post: Looking to Connect

Post: Entrepreneur Roundtable: Finding Money

Post: Entrepreneur Round Table

Post: Entrepreneur Round Table

Post: Networking Happy Hour

Post: Entrepreneur Round Table

Post: Need advice for new company lending

Post: Real Estate Networking Happy Hour

Post: Need advice for new company lending

Post: Real Estate Networking Happy Hour