Rennell Goudeau
Eager wholesaling apprentice
16 January 2025 | 3 replies
Once you find someone willing to let you shadow them, approach it with professionalism and a willingness to learn.
James Colgan
House Hack - Duplex
16 January 2025 | 3 replies
Let me know how it goes or if you want to brainstorm more on how to approach the seller.
Henry Clark
Self Storage- Just Built, To Sell or Not
16 January 2025 | 6 replies
He took the new development appreciation approach.
Chris Mahoo
Long term rental when you are not full time real estate professional
22 January 2025 | 10 replies
@Chris Mahoo many new investors don't take the time to properly understand RE investing.1) Many are using approaches from 2010-2018 when Class A property prices were so low from the Great RE Crash that an investor could cashflow and get pretty easy Class A tenants to manage.2) If you look at what investors were doing before 2008-2010, most were buying Class B & C rentals.To make it worth while, an investor either needs to Fix & Flip or invest & hold rentals for 10+ years.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.
Karen Smith
The Rise of Private Lending: What's Your Experience?
13 January 2025 | 12 replies
I also completely understand the frustration of navigating through "Joker brokers" and fake lenders who promise more than they can deliver—one of the biggest challenges in the industry today.Regarding your approach to accrual-based repayment options, that’s a huge help for flippers managing tight cash flow, and it's great that you offer that flexibility.
Clint Miller
Where Do You Find the Funds for the Down Payment?
26 January 2025 | 15 replies
Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.
Kathy Creighton-Smith
LoanBidz lending reviews
23 January 2025 | 15 replies
If this is your approach, you will end up eventually get a bad taste of the lending industry as a whole.
Louis Hamilton
HELOC Best Option - Rental Property
15 January 2025 | 6 replies
This approach might speed up access to funds without waiting for June.
Lauren Merendino
Pre retirement Strategy
1 February 2025 | 30 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
Gerald Wallace
Car Wash Business Analysis
10 January 2025 | 2 replies
Have you approached the current owner of the car washes to see how much they want in a sale?