15 January 2018 | 9 replies
I'm looking to make my first real estate purchase this year, despite being a "new investor", as a means of learning as quickly as I can by getting my hands dirty and having skin in the game.
3 January 2018 | 13 replies
The key is do you have skin to put in the game, otherwise it will be tougher to find a deal to get into. 2nd) do you have car payments that is eating up your income?
4 January 2018 | 8 replies
I recently opened a HELOC on my house with same goal as you and am also trying to learn the best way to use it.The HELOC basically allows you to buy very quickly just like cash...so if good deals come up, you have an advantage to get a good cash price and close quick.... then you get a conventional loan for long term financing, but you still have to have 20-25% of "skin" in the deal.You will only get your 20-25% back if you find a great deal or add value to the property and get it appraised for more $$, so you can pull enough cash back out to pay off the HELOC completelyIf you cant do that, you will have basically financed the entire thing...80% conventional and 20% balance in your HELOC that you used as your "cash" down payment
3 January 2018 | 14 replies
While I could communicate with some difficulty I found they were not the original tenants.
8 January 2018 | 15 replies
I was hesitant because I know they could charge an arm and a leg for something that's not even difficult.
18 January 2018 | 8 replies
@Matthew Rodriguez As a someone in your same location and realm I comprehend your difficulty.
8 January 2018 | 14 replies
My concern now is, how difficult is it to obtain a loan from the bank under a LLC versus under my own personal name?
12 January 2018 | 12 replies
It is not likely commercial lenders will allow you to acquire a property with none of your own capital as they typically want you to have "skin in the game".
9 January 2018 | 12 replies
But because people have difficulty with focus, action and consistency, it can present a challenge for those who aren't fully committed to the process (as opposed to the result).
4 January 2018 | 6 replies
You are asking for a huge discount, but there's many ways to skin a cat.