All Forum Posts by: Wallace Pendleton

I would advise partnering up, especially if you trust the person.  2 heads is better than 1 and 2 checkbooks are better than 1 as well.  See how it goes partnering up and then you can decide if you want to continue partnering up for future deals or not.  Make sure lawyer is involved to look over the agreement you and the partner have and sign off on.  

Also check around the South Bend area.  Good opportunity for short term rentals in that area as well as long term rentals with the University in town.

Definitely having a network of friends that are willing to invest with you will go a long way.  Hard money is a good avenue to get started as well.  But if you have the friends that want to invest and make passive income then definitely go that route.  

@John Warren thanks.  I'm already apart of this one.  See you on the 24th!

Wouldn’t bother me. Don’t judge a book by its cover, especially in real estate. It’s all about the potential and what something can be. If you’re a hard worker and have great results your reputation will shine above the tattoo.

Don’t need to pay for anyone to coach you. Watch the bigger podcast with Tony Robinson Jr to see how the majority of his properties are out of state and he was a newbie when doing it.

@John Warren what's your REI meetup? Would like to join and start coming regularly. Also just getting started in real estate investing in the Chicagoland area.

@Kathleen Martini I’d be interested as well.

Hi Hubert,

See below:

1. Definitely contact a mortgage broker to confirm on what all they need to write a mortgage. They usually want to see some more information than that. But if you got and talk to a local bank face to face they may be able to work something out with you 

2. I used FHA when buying my first property. There are some more hoops you have to go through but is great for house hacking due to the low down payment.

3. I use wintrust mortgage. Gentleman by the name of Mike Nicestro my family has been using for 25+ years. Let me know if you need his contact information and I can email it to you.