All Forum Posts by: William Davis

So I've been a real estate agent for about a year now. I'm 25 and look like I'm 18. A few potential clients of mine have expressed their concerns about my age and time in the business, and I was wondering if anyone else shared a similar point of view as my clients. I've realized most buyers are not in my age range, especially at the $899k+ price range for my area in the SFV. So, are you comfortable having a young agent represent you in the purchase/sale of your home or investment, and is age one of the qualities you look for in an agent? I'm curious!

So, I have this idea for a business that uses the BRRRR method. The problem though is getting enough money start is when it comes to buying property in my area. I don't want to go to a hard money lender for the full 70-80% ARV because interest is too high. Property near me is also very expensive and its difficult to find something that will increase in value 20-30% because of the high values in my area. Just a lot without a house on it is 300k. Of course Im going to start out slow with my first property, but once I get I get the process down I feel like it would become easier. Once that happens I plan on ramping up the number of properties I acquire. Does anyone have some advice to help me get started, or maybe share their story on how they were able to get the funding for their first investment property?

@Elvis Vasquez I'm going to try to get it all in cash from investors, but if I can't I'll get the rest from a hard money lender.

So, I would have to put the 25% down in my personal money, not pay the total price of the home and Reno with the investors money? I was under the impression I had to get enough money from investors to pay for both the property and the Reno, and have the refi pay for the two because of the ARV. Also in LA renting is extremely expensive. A nice house can easily generate 5-7k @Brent Coombs

So, I'm new to the game, and I don't really know what I should be doing when it comes to actually executing the BRRRR method, its one thing to know it and study it, but another to actually do it. I have a few investors ready when I get a deal on a home. Specifically in LA, property prices are ~300K and I won't be able to get all that from investors. Should I go to hard money lenders for the rest or keep looking for more Private money? Also, what legal work has to be done when I do get tenants? I have a very good understanding of how the BRRRR method works, but I don't quite know about all the ins and outs of what the property needs to become a good rental. I would be splitting the property with a parter for my first property. Any info about the nitty gritty stuff would be very much appreciated.

Its actually amazing how this is on the trending page.

So you all think its a stupid idea and would never invest? 

I appreciate everyone's comments and responses. They are all very helpful. In all honesty I only expected 1-2 people to even comment, and now I have an understanding of what everyone wants if they are to invest or even just to try to understand.   

Also why is everyone so quick to judge or make fun of the idea when you don't even know what is, haha.