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14 January 2025 | 15 replies
I'd done some reading in the past and thought a few of the main Canadian banks had such specialty trust divisions that could help you with plan setup.As for finding investments, networking with other investors, real estate agents, etc. is the way to go.Brian, from what I've heard is that CAN banks make it extremely difficult to setup.
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6 January 2025 | 14 replies
See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.
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15 January 2025 | 144 replies
Become expert on whatever it is your talking about, so that you don’t make a whole lot of incorrect statements in your posts2.
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17 February 2025 | 71 replies
Wow it sounds like we are kinda "brothers from another" haha.It is extremely rare to find Millennials that are into Wright much less Rand :).
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22 January 2025 | 56 replies
Achieving excellence in anything generally requires an extreme amount of dedication and time commitment, time that could have been spent doing a thousand other things.
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8 February 2025 | 49 replies
There are companies out there who purchase homes, renovate them, sell them to investors and manage for those investors as well on the back end so it can be an extremely passive way to invest.
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16 January 2025 | 12 replies
To put a relatively extreme scenario out there, if you offer 3% more than the next guy in cash (no bank debt) and provided a copy of a brokerage account statement showing the cash was available, I am certain you would get the deal.To echo Joshua's comments: how you are planning on financing the deal is hugely contingent on being awarded deals.
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8 January 2025 | 1 reply
Another example of this is Newark, extremely strict laws making land lording a second job.When finding the right area to invest, towns with more lenient land lording laws and proximity to public transportation tend to be a receipt for success.
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12 January 2025 | 11 replies
Tenant screening is a big task and extremely important.
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14 January 2025 | 19 replies
Pairing that with relationship-building will help you uncover off-market opportunities and find local experts who can guide you.For meetups, here are a few ideas:Indianapolis Real Estate Investors Association (Indy REIA): They have a mix of virtual and in-person events and are a good starting point for networking with other investors in the Indy market.Louisville Real Estate Investors Group (REIG): A similar organization for the Louisville market, with educational and networking opportunities.Check out BiggerPockets Meetups: Many cities have local meetups organized by investors active on BiggerPockets, and they often include virtual options.Facebook Groups: Look for local investing groups like "Indianapolis Real Estate Investors" or "Louisville REI."