I think is would be liquidity to acquire assets
@ Jessie Nunley... You will make way more money after RN school, and you will have 4 days off per week to pursue real estate. I stayed in and went to NP school after RN, and my income doubled. I still work 3x12's.
@Andrew Angerer Limited inventory in Cleveland,
@Andrew Angerer age, i cant legally take out a loan yet
Mostly inexperience. I’m slowly securing funding from family through the sale of some land and an unprofitable rental. From there I will start looking, hopefully, by the end of the summer. In the mean time I’m practicing doing my analysis, reading and learning.
Literally coming from nothing, single mom, building back up credit after bankruptcy trying to stay focused and financially disciplined. I just graduated from a CMA class 2wks ago but I've been reading a lot of books on rental property investments. I know it's not an over the night flip & get money. I want more for my daughter and I but I have no guidance or anyone I can ask questions other than these books. I read and listen to podcast all the time on how other people got started but sound like 80% came from money or has a husband to support them if all fails.
@Jim K. I'm located in Pittbsurgh, my husband and I are closing on our 2nd multifamily rental next week. Some value-add projects planned but not a major renovation, mainly cosmetic work that we're doing ourselves. We're planning to take on the BRRRR strategy in the future and would love to make some contacts in the area doing the same thing. Do you happen to be going to the Pittsburgh REIA meeting tomorrow night?
I need to take a risk and buy a multi-family. I'm hesitant because my team is fluctuating right now. I want to refi my rental property and use the margin to purchase multifamily in Baltimore or DC. Lots of programs but I'm discouraged. Have had several bad contractors in a row. Leaning towards taking a break for a few years and just enjoying the four properties I have now.
Funding! I have 16 doors now and conventional bank financing is now a road block. I’m in a semi-rural market so private financing is hard to come by and hard money is not much of an option for my strategy. Currently looking for 2-3 year 10-12% private funding to buy a few more deals, but who isn’t looking for that right? Haha. If all else fails I will wait and stock pile reserves while I study for alternate strategies. Time goes on
My biggest roadblock is the Tampa bay and Lakeland areas being over-priced. The market is TOO HOT.
Found an interesting duplex in Lakeland that was published Friday. Wanted to check it out tomorrow - today the seller already agreed to take an offer. What the heck ?
@Andrew Angerer Getting harder to find good deals to BRRRR right now. Also working a full time job, making family time and trying to start my business. Need 25 hours in a day.
@Andrew Angerer College/no job/no credit car
I need. To decide on an expense tracking tool either QuickBooks or a property management software I have 14 units and I can’t stand the reporter I receive from my pm
calculating rehab costs
@Andrew Angerer obtainable lists of motivated sellers in LA
Capital, funding, funds, money.... :) I have a niche construction market i'm in. I self fund all my projects. Make over 20% return and still cant get a bank to give me a spec loan. Have done 8 successful ones in 2 years
@Andrew Angerer building my team and business credit and finding a good mentor.
Originally posted by @Tim Kaminski :
Biggest roadblock is my obtaining my second property. Have a financed duplex but unsure if taking less cash flow through a refinance will be the best route or doing a long term deal with a HELOC. Back to saving up my money again and hoping prices come down
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It does suck you need a simple steady w2. They donor care for any commissions at all unfortunately. Finding a co borrow to partner with you might be the quickest way to get ahead.
I’m getting ready to move from Louisiana to Japan and I’m not sure now is the right time with everything else going on in my life. What I’m doing about it is everything I feel like I can do. Learn more. Prepare for when I’m ready. I’m reading Rich Dad Poor Dad and listening to multiple episodes of the Bigger Pockets podcast every day.
Educating myself for investing in preforeclosure and sheriff sale properties. I'm also trying to get the capital to fund the complete deal. I've only reached out to two local banks for info on a personal loan but both of them are capped at $25k. Hopefully my 1st visit to the sheriff will connect me with other investors I can partner with. Im excited for my 2nd property and I must be patient not to jump into something that isn't the right deal.
I’m having the same dilemma do you have any recommendations on any private lenders?
Focus is my roadblock at the moment. I seem to be suffering from shiny object syndrome. Lots of markets and strategies seem really compelling to me. Just need to focus on a market and start testing with a team there.
Any recommendations on strong BRRRR markets or ideas to help me narrow my market focus? Thanks!
@Andrew Angerer finding capital for larger commercial developments.
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