All Forum Posts by: Yoni Benimetzky

Hey @Dave Megowen

Fix and flips usually work out better with a bridge loan and not a conventional loan. Conventional loans are usually pretty expensive to get out of and if your plan is to sell after your done with the rehab you might want to look into a bridge loan instead.

A conventional loan can be 5-7-10-30 years with lower interest rates but prepayment penalties scale based on the amount of time left on the loan, the more time left for maturity the higher your prepayment usually ends up being. 

That's why fix and flippers usually get bridge loans, they provide higher leverage with more flexible exits 

Hey @Matthew Daniel Langner

I would usually run a comp report to make sure the pricing of what i'm looking at makes sense. 

Find a local real estate attorney.

Get the deal under contract with long enough of an inspection period to get your due diligence done.

Engage with a local lender that you preferably already bank with if you have that. 

Higher an inspection company to give you a report on the property you're looking at. 

Get a survey, run title, lien search, environmental report  

If everything checks out you should be in position to close (assuming you have the equity required) 

In general, the formation of an LLC is to protect you personally. In some states you will lose that layer of protection if you're a single member LLC. I would consult with an attorney in your state.

There's an argument that your realtor has a fiduciary duty to you and what they did was unethical. If you're really upset you could file a complaint with his association of realtors and the licensing body in your state. 

Hey Bryan, 

The last recession was a housing crisis, what we're going through right now isn't that (not yet at least) 

Speaking from a multi family perspective, rent collection hasn't been as bad as most people projected and although many transactions have paused, big discounts haven't begun on any national scale. 

In 2009 it was very challenging to get a loan on most RE sectors and that spiraled the decline in pricing even further. At the moment lending is still relatively attainable and because of that there isn't a free fall in pricing. 

Granted, all of this could change in the near future. 

Hey Daniel, 

Don't be discouraged, these things happen in good neighborhoods sometimes.

There are things you can do to stop this from happening again though. 

Put up some cameras around the property, an automatic light by the main door, a sign on the lawn that states the property is under surveillance and is being monitored. 

Hey Shawn, 

Try finding another house or duplex that's relatively near your current house. If you're self managing it'll make things easier to control.

Hey Stephen, 

Buying land can certainly be a good move but as new investor it might not be as gratifying. Depending on your investment strategy you might want to diversify into other real estate buckets and not stick to land if this is one of your earlier investments. Cash is certainly king, if you buy land or say a duplex in the same area, more than likely any future appreciation will raise the value on both, but if there's a downswing the duplex should at least cover your expenses. 

You can build your own website with companies like Wix or Squarespace. They're both relatively easy to use and you don't really need technical experience to do so. Pretty cheap also. 

If your idea more complicated than a simple informational site you should probably hire a web developer. 

What kind of website are you trying to create? 

Try to understand what tools they can provide you (marketing, software, legal, lead generation) 

What the commission split is and how it changes based on time there or performance. 

Will you have a physical office that's dedicated to you. 

What realtor associations are they listed with