Looking to Help Beginners ! (Investing , Financing, Managing)

Starting Out
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Looking to Help Beginners ! (Investing , Financing, Managing)

Account Closed
Upstate, NY · Member since 2016 · 200 posts · 277 votes

Hey all,

 I am on bigger pockets simply because I want to help beginners make that leap like I had to all on my own before I knew about bigger pockets.  A quick blurb on my experience : 

I am a serial House Hacker 

I am a Bank Manager for a large Bank 

My wife is a Real estate Agent specializing in Flips and Investment Properties

My friend and I have a total of 104 rentals in our area which are all self managed he owns the bulk of the 104 rentals

Also my father is an attorney and my mother is and has been a real estate agent my whole life.

I have lived with tenants , managed my own properties, helped grow and develop a property management team,  helped investors find deals,  helped investors get financing , and a bit more ! 

That all being said I have a bit of experience in buy and hold , financing traditional and creative , self managing, and MLS deals and using the MLS. I am still learning myself (always will be) but I feel like I can help people analyzing deals and making the leap into REI!

Please feel free to ask anything that comes to mind and I will try my best to answer all questions. 

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Most Popular Reply

Pao Yang
Real Estate Professional · Oak Creek, WI · Member since 2016 · 4 posts · 9 votes
9y

Hello,

I'm new to REI, just graduated from college, and fell upon Robert Kiyosaki's books. It lead me to start watching REI webinar, and and attend seminars. Learned a great deal, and they keep saying take action. Only problem is, where do I even start?! REI is and has so many strategies and topics, where does a beginner even begin to take action? I'm currently enrolled in Rich dad's seminar 3 day beginners real estate program ( Plan to stop due to high fees for the program). I've been reading REI books, mostly general strategies. And I've been analyzing properties mostly on the MLS. I'm trying to connect with local REI clubs, and meets with local BP, as well as local REI investors/agents. All of this is a load of great information, but doesn't really have a decent structure on where someone like me with no experience even begin. Any suggestions would help.

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  • Jeff Filali
    Rental Property Investor · Broken Arrow, OK · Member since 2016 · 1k+ posts · 1k+ votes
    9y

    @Kayla Bridges I'm local investor in BA & am always open to helping others and growing my network.

    0Reply
  • Nicholas T.
    Houston, TX · Member since 2017 · 2 posts · 0 votes
    9y

    so i'm still in in high school and I've already gotten a couple grand in stocks and would like to get into real estate, and I already know someone over 18 that will let me do deals in their name so besides education what could I do

    0Reply
  • Christian Sasam
    Austin, TX · Member since 2016 · 11 posts · 5 votes
    9y
    I have been looking to get into multi family. Are you familiar with the austin area or know contacts there. I want a realtor who specializes in investment properties to discuss plans.
    0Reply
  • Malick Ba
    Real Estate Investor · Sugar Land, TX · Member since 2017 · 5 posts · 3 votes
    9y
    Hi Bryant, my name is Malick. My question is : it is possible to begin a RE investor with no money and even not a good credit. Is getting the real estate license will help ? I love this business and would give 100% myself to it. Thanks for your advice.
    0Reply
  • Joseph Scott
    Hempstead, NY · Member since 2015 · 1 post · 0 votes
    9y
    Bryant Schur Hi Bryant! I live in NYC and I have a family member in the Buffalo Area. We're looking to acquire our first property and we have our sights on a few up there. Where and how do I get creative financing, or portfolio loans? I cannot get traditional financing.
    0Reply
  • Seth Mogil
    Cherry Hill, NJ · Member since 2017 · 1 post · 0 votes
    9y

    I am looking to invest in commercial real estate, if you would not mind I would like to talk to you about it.

    0Reply
  • Nancy Wang
    Real Estate Investor · Boston, MA · Member since 2017 · 21 posts · 5 votes
    9y

    Hi @Bryant Schur and thank you for offering your help for us beginners!

    I bought an old 2f (built in 1860) last week. Short term goal is to rent it out and long term (in 1-3 year) is to tear it down and build a new building on the lot since it is a big lot 13,000 sf. I just checked with City's building department for zoning issues. It is in downtown and zoned as ADDC - mixed used. there are many possibilities - as long as I keep it 3 stories and under. 

    What is my next step? Already I have some construction/architect company contact me for the project. I hold the property under my own name - should I convert the title to an LLC before the new building project starts? What do I say to my lender - "I want to tear your building down?" My insurance company won't be happy either.

    Where do I get the funding? The builder told me it will cost $230/sf to build in my area - Metro west of Boston. 

    I could build 6 units, or 9, or 12 units depending how many I can fit on one floor. The lot is 13,000 sf and the setback requirement is 0,1.5, 1.5 and 15 feet...

    If you could tell me which direction I should focus and the logical steps I'd really appreciated.

    Thanks!

    0Reply
  • Eddie T.
    Rental Property Investor · NY · Member since 2013 · 844 posts · 350 votes
    9y

    @Account Closed In what cities are your properties in? How many single families do you have?

    0Reply
  • Thomas O'Neill
    Rental Property Investor · Philadelphia, PA · Member since 2017 · 8 posts · 5 votes
    9y

    Hey @Account Closed I am extremely new to real estate investing. Im 23 years old, working as a financial advisor with my Dad and sister. My and Dad and I have always talked about going in on a property 50/50. We are thinking of Philly area. What are your thoughts on how to get starting and get the ball rolling?

    Looking for a buy and hold situation. ideally a multi-family.

    Any advice would be greatly appreciated. 

    0Reply
  • Esther Benson
    Savannah, GA · Member since 2017 · 2 posts · 1 vote
    9y
    Bryant Schur Hello Bryant, I'm new to real estate and interested in rehab and sale but I have no idea where to start. I've thankful for coming across BiggerPockets and although helpful, I find the information overwhelming! I work full time and the idea of purchasing, rehab and sale seems expensive and daunting...but I know it isn't mission impossible. How and where do I find funding?
    0Reply
  • Kuba F.Pro Member
    Real Estate Investor · Los Angeles, CA · Member since 2013 · 2k+ posts · 694 votes
    9y

    @Esther Benson The rehab process can be overwhelming, and you should definitely educate yourself on the process as it can be quite involved, and never as easy as any of the flip shows would make you believe.  The Bigger Pockets books on the subject are a good introduction, as is the book on estimating rehab costs.  Funding is situational and depends on whether you plan on living in the house as an owner occupant, or not, and also depending on how much money you have to contribute to the project.  If you are planning on living in the house, you can take advantage of 203K loans, and if you are investing, then unless you have cash, then you will likely need hard or private money.

    1Reply
  • Tramayne Young
    Savannah, GA · Member since 2016 · 3 posts · 1 vote
    9y

    Hi, everyone. I recently purchased the two books offered by BiggerPockets on rental properties. I'm going to take this on as a niche. I love my current job. But, I need to create some passive income so my family and I can live more comfortably. I want to purchase a rental property and a personal home (we currently are living in one of my parents homes) this year. I know it can be done, I just don't really know where to start. At this time we don't have any revenue saved up. We have been focusing our efforts on establishing credit (which has been going very well). Here soon I will qualify for a mortgage. Any advise?@Bryant 

    0Reply
  • Account Closed
    OP
    Upstate, NY · Member since 2016 · 200 posts · 277 votes
    9y
    Originally posted by @Tramayne Young:

    Hi, everyone. I recently purchased the two books offered by BiggerPockets on rental properties. I'm going to take this on as a niche. I love my current job. But, I need to create some passive income so my family and I can live more comfortably. I want to purchase a rental property and a personal home (we currently are living in one of my parents homes) this year. I know it can be done, I just don't really know where to start. At this time we don't have any revenue saved up. We have been focusing our efforts on establishing credit (which has been going very well). Here soon I will qualify for a mortgage. Any advise?@Bryant 

     Consider finding a 2-4 unit building that could act as your home and an investment .  This would allow you to put little money down and live for cheap or free .  Then you can save your money for he next deal !

    0Reply
  • Account Closed
    OP
    Upstate, NY · Member since 2016 · 200 posts · 277 votes
    9y
    Originally posted by @Thomas O'Neill:

    Hey @Account Closed I am extremely new to real estate investing. Im 23 years old, working as a financial advisor with my Dad and sister. My and Dad and I have always talked about going in on a property 50/50. We are thinking of Philly area. What are your thoughts on how to get starting and get the ball rolling?

    Looking for a buy and hold situation. ideally a multi-family.

    Any advice would be greatly appreciated. 

    You just need to know how to run numbers and then get out and look ! Honestly if you are sold on the idea and have done some research simply get out there and look at deals from the MLS! Easy way to start gaining momentum

    0Reply
  • Eric Aboutboul
    Investor · Tarzana, CA · Member since 2013 · 7 posts · 0 votes
    9y

    Hey @Bryant Schur really appreciate your post to help us beginners. I am located in Los Angeles and just sold a land I was going to develop with one other partner permit ready for a small profit. It was a long process (over a year) but a great learning experience. Now that I have my money back I am not sure what the best route for me to go is, ground up development, flip, multi family etc. 

    I have a handful of people willing to invest with me in each of these areas just not sure if tying up my money into a multi family with rental income is a better way to go, if it should be considered with 1 or 2 partners or if building cash flow and avoid holding any property is a smarter move starting out. 

    Any feedback is appreciated!

    0Reply
  • Milan Obradovic
    Real Estate Agent · Brooklyn, NY · Member since 2017 · 88 posts · 14 votes
    9y
    Hey Bryant Schur I am wondering being from Brooklyn and I see your from upstate New York. Do you have an area you recommend outside the city that is relatively friendly for beginning flippers in terms of sale price 50k that could be a good place to look and invest. Thank you
    1Reply
  • Joshua Biondi
    Columbus, OH · Member since 2017 · 101 posts · 56 votes
    9y
    Bryant Schur I just want to thank you for making this post! I am a beginner investor looking to purchase my first property this year. I've gained a lot of great info just reading the questions and your answers on this post! Thanks again!
    0Reply
  • Luther Jackson
    Fort Washington, MD · Member since 2015 · 12 posts · 2 votes
    9y
    I will definitely be picking your brain
    0Reply
  • Kwabena Ocran
    Brooklyn, NY · Member since 2016 · 1 post · 0 votes
    9y

    Hello @Account Closed, I'm Kwabena and very interested in purchasing at least 2 SFH buy and hold investment properties this year. My issue hear is I have limited funds to start out > $10k. Secondly, I am self employed but I'm not able to much income when going to look for financing. Also I'm not exactly sure what areas I should dive in. Ive been looking at Central and Southern NJ, Houston, TX, Raleigh and Charlotte, NC and Baltimore. Any advice you can give a newbie like me trying to get started would be appreciated.

    0Reply
  • Michael McKenziePro Member
    Lender · Cary, NC · Member since 2016 · 82 posts · 13 votes
    9y
    Bryant Schur welcome to Bigger Pockets
    0Reply
  • Ron D'Angelo
    Staten Island, NY · Member since 2016 · 4 posts · 0 votes
    9y
    How are you, i am a general contractor in Staten Island New York Iam looking to start investing in New Jersey not to far from where I live Any advice on weather a Nieghborhood is worth investing in or not I am looking to try to expand my business into flips and rental
    0Reply
  • Loui Kanellos
    Staten Island, NY · Member since 2016 · 12 posts · 1 vote
    9y
    Hey Ron, I am from Staten Island also looking for the same thing, an area to invest in nj for flips and rentals. Looking in a couple areas now in the jersey shore areas. Lots of homes that you can get cheap that need to be raised. What kind of contracting work do you do?
    0Reply
  • Jeremy D. Thomas
    Hephzibah, GA · Member since 2016 · 6 posts · 1 vote
    9y
    Bryant Schur Good morning sir, and thanks for taking the time to offer your advice and encouragement. I recently made my first investment into a home and I have the intention to live in as well as offer up 2 of the rooms for rent. I also intend to do several home improvement projects to improve the rentability of the home (privacy fence, fire pit, screened lanai, etc). So, knowing that, what advice would you offer a young Bryant Schur(me) from an older, more experienced Bryant Schur?
    0Reply
  • Brian Henry
    San Diego, CA · Member since 2016 · 13 posts · 5 votes
    9y

    Bryant - I am getting ready to buy a property this Spring for my Son and roommates to live in for the next 3 years while he is in college (Boise State University).   We own our home in San Diego, but this will be our 1st investment property.  We have to pay room & board anyway, love the Boise area, and eventually may want to turn it into a vacation home, so we are getting ready to take the plunge into being landlords.

    I have been looking at homes in the area and narrowing down our target locations and type of house.  Couple questions:

    1.  Any tips on the loan?  Our Son will live in the house at least 10 months of the year and will be our onsite manager (he's studying construction management and very interested in getting into RE investing).  Can it be a 2nd home or will it have to be an investment property?

    2.  My son does have some money he could invest in this deal if there are any advantages to him being a part owner and living in the house.   He hasn't had an income history and is just starting an on campus job so I assume his income won't qualify him for a loan on his own.  Additionally that could potentially help him get residency in Boise and in-state tuition (he has a scholarship that waives the non-res fees but that has a GPA requirement - not worried about that much so this is not much of a factor).

    Just looking for advice on best way to approach this from the type of loan and ownership.  I'd love to help our Son get into the RE investing world and then we can help finance some deals with him once he graduates and is employed.

    Thanks for your offer to help newbies learn the ropes!

    0Reply
  • Alan Ginder
    Real Estate Investor · Anthony, NM · Member since 2016 · 5 posts · 0 votes
    9y
    Struggling getting good cash buyers. I find properties for the ones down here and they still say it's no good what am I doing wrong
    0Reply
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