Don’t know where to start

[Aaron Jannetti]

Hi all,

I’m brand new to this. I have a good base knowledge of everything, but every property I’m seeing isn’t working out from a cashflow perspective. Is everyone finding deals where the numbers are working out with the current interest rates? 

Also need help with the finer details (where/how to secure funding- regular bank or private?, how to set up an LLC, how to set up a bank account that's legally tied to the property, etc.).

I’ve been researching and reading as much as I can but the information is overwhelming. I’m looking for someone to walk me through it if you’re willing.

Thank you so much!

[Matthew Morrow]

Hey there,

Welcome to the world of real estate investing! First off, it's not uncommon to sift through many properties before finding one that meets your cash flow criteria, especially in a market influenced by fluctuating interest rates. Patience and diligence are key.

For securing funding, both conventional banks and private lenders have their pros and cons. Banks typically offer better rates but can be more stringent in their underwriting. Private lenders, on the other hand, may be more flexible but often come at a higher cost. It truly depends on your personal situation and the deal at hand.

Setting up an LLC is relatively straightforward; you can either hire a lawyer to walk you through it or use online platforms / state dept direct websites. The benefits are in asset protection and potential tax advantages. Once established, setting up a bank account for your LLC is a simple process, and any reputable bank will guide you through it.

It's a learning curve, but the experience you gain is invaluable. If you're genuinely interested, I recommend seeking out a local real estate mentor or joining an investment group. These communities can be a goldmine of knowledge and resources. My team in PA helps investors from across the country build and scale by finding remote deals to consider. If you have any questions or want to chat id be glad to help.

Best of luck,

Matt