Real Estate Investor · Evergreen park, IL · Member since 2015 · 42 posts · 6 votes
Greeting all BP members! my brother and I for the past 6-8 months have made a commitment to be RE investors. With my brother being a recent college grad and myself having a family and responsibilities of my own we have limited funding so it forces us to come up with creative financing. What would you all recommend to be a good route to go for our first deal, Wholesale a property, go through private investor/lenders for potential flip of a property, or going through the bank getting a FHA loan and renting out a home or two flat?
Baltimore, MD · Member since 2015 · 301 posts · 82 votes
11y
Depends on what you plan on getting out of real estate investing. Are you looking for passive income through rental properties? Are you looking for that big pay day with flipping? Do you want to focus on a marketing campaign to hunt down wholesale deals?
I would figure out what interests you the most and start doing a lot of research. Everyone has their "niche"...whats yours?
Baltimore, MD · Member since 2015 · 301 posts · 82 votes
11y
Depends on what you plan on getting out of real estate investing. Are you looking for passive income through rental properties? Are you looking for that big pay day with flipping? Do you want to focus on a marketing campaign to hunt down wholesale deals?
I would figure out what interests you the most and start doing a lot of research. Everyone has their "niche"...whats yours?
Real Estate Investor · Livonia, MI · Member since 2015 · 1 post · 0 votes
11y
You must have Cash Buyers at your disposal so you can send off the deal to your potential clients...at least 20 will be very good to start.....remember this ration 20-1 for every 1 deal you have your going to need twenty buyers so you have control of the deal...plus don't forget to have your exit strategies ready at all times.
Real Estate Broker & Investor · Indianapolis, IN · Member since 2012 · 218 posts · 83 votes
11y
Well wholesaling is kind of a different animal entirely, and doesn't really meet the definition of investing...it's more like a marketing biz.
But what are your goals? If they include building a portfolio of rentals, the easiest way is the house hacking method, as so called here. Buying a duplex, renting one side, living in the other.
Much easier to get financing and you need less money down. Regardless you need a stable income to qualify for anything
Real Estate Investor · San Antonio, TX · Member since 2014 · 785 posts · 190 votes
11y
I do owner finance houses in my market, great market. But for cash, doing a quick flip with minimal repairs can work well in many markets. I've done so here in the last 2 months, made 20k so I can do more buy and holds.
Real Estate Investor · Evergreen park, IL · Member since 2015 · 42 posts · 6 votes
11y
gentlemen, I appreciate the insight overall my passion in RE is flipping and wholesaling. Eventually I want to invest in commercial property for long term wealth. @Account Closed