If you’re serious about getting into the game, I’d say build up those local contacts they can be your biggest asset.Glad you’re meeting with someone in real estate financing soon; it’ll be invaluable for guiding you through loan options and what’s realistic for a first purchase.

That’s the hook and to me financing deals seems like the biggest barrier to entry.

Also, depending on your network from BPCON, see if anyone has connections to private lenders willing to do higher leverage, especially for strong deals like yours with a solid ARV.

The biggest issue I’ve faced is unreliable syncing with financial institutions.

Investment Info:Other private money loan investment in Randalia.

Is intentionally inflating a payoff a form of fraud - not an attorney but we do private lending and if you misrepresent the loan amount intentionally yes its fraud.

I used a private lender. 

I recently started working in the private hard money area of Real Estate.Currently I work with a hard money lender based out of LA and we focus on mortgages, commercial, and anything business purpose related.

We both have made compromises along the way.I think that’s completely right and one of the reasons you hear the horror stories about these things going sideways (there’s no established timeline for exit), it literally just goes until something breaks. figuring out the ownership structure, and thus the use/access, as well as the exit feels like the two biggest items to get extreme clarity around. 

My 2 biggest issues are getting the occupied units registered as occupied and not Vacant, there is no toggle or selector to do so.