Investor · Providence, RI · Member since 2016 · 142 posts · 40 votes
Born & Raised in Cranston, went to college in Bristol, lived in EP for a while and work as an Account Executive for Lamar Advertising. I love my job and it provides me with the freedom I look for as well as good earning potential.
I'm here as a referral from a local investor and my goal is to be completely independent from the employment system. I enjoy the idea of building up properties and renting them for a profit, I fully support capitalism and believe it is the most compassionate and successful system ever built. I take it as my responsibility to produce for the greater good given the advantages I've been lucky to have (luckily I believe the system will reward me greatly for my work).
Stephen, welcome to BP! Sounds like you have great conviction in the cause, that will help you out when you hit any challenges or bumps in the road. Lots of great resources here on BP including the podcasts, so check them out and good luck :)
Stephen, welcome to BP! Sounds like you have great conviction in the cause, that will help you out when you hit any challenges or bumps in the road. Lots of great resources here on BP including the podcasts, so check them out and good luck :)
Thanks Anthony! I'm very excited to get started, I've really always known I would do this at some point in my life and right now I'm finally in a position to get it done. Anyway, I do have a question posted here: https://www.biggerpockets.com/forums/50/topics/314...
I just skimmed your post, but it seems like you're asking for options to get started now, while bank/regular lenders want to wait until you have 24 months on the job (which is common by the way).
Since you're so close, at 18 months, I'd say you should line up private/hard money just in case you come across any great deals, then when you qualify for bank financing you can refinance out the private/hard money loan with conventional financing.
I frequently do this with properties, using private $ to buy a good deal quickly, then 6-12 months down the road (after I stabilize the property and give a good return to my lenders) I'll refinance with a regular bank loan.
Hello @Stephen Torti and welcome to BP. BP is a great place for real estate investing. It has everything you need and more! At BP, you can access free online educational courses and videos and BP's podcast in itunes. You came to the right place and I wish you all the best.