Going full time in RE with 100K (Advise)
Hello, Chris here! I am located in beautiful Denver Colorado.
Applying the mindset of Elon Musk himself, I am looking to take my 5 year plan and achieve it in 1. My 5 year plan was to go full time in Real Estate investing. It’s my biggest passion and I love it so much.
A little info about me.
I purchased a home in 2019 that has consistently cash flowed $700 a month (after all expenses and savings) and saw almost 200K increase thanks to the incredible Colorado market.
I’m hooked! Area’s I am looking for help on, are…
I am looking to use a 100K HELOC on my home to purchase more properties. (I'm looking in the multi fam and apartment space currently)
Questions 1. Once my RE portfolio cash flows my current income with extra to spare, how do I make the move to full time RE investor? Specifically, how do I find lending when working for myself? Obviously W2 income is crucial for procuring a loan. Do you own an LLC and pay yourself through your company or does the lender look at your rental income as your primary income?
Question 2. Do you know of any killer books or courses that specifically talk over raising private capital?
Question 3. Do you recommend any webinar’s or live events that have legitimately helped you in your RE walk?
Question 4. What is your advise on finding markets that will (hopefully) see great returns?
Anyone local to CO who would like to grab coffee, please let me know!
Thank you for your help in advancing my knowledge in this incredible industry.
Cheers!