All Forum Posts by: AJ Leman

What's up Percy! Welcome to BP!

You may want to check out Max Maxwell: https://therealmaxwell.com/

He has a nice Facebook group that is free (paid version) as well.  I'm not a huge wholesaler, but I've found useful advice and encouragement through Maxwell's materials.

Good Luck

AJ

Hey Brandon,

Welcome to BP! Sounds like you are in great financial shape.  I would investigate RE through BP and lots of reading!  Stocks are great as well and require less work, but RE has certain advantages that stocks do not (as I am sure you are aware). Here is BP's 20 best books to get you going: https://www.biggerpockets.com/...

Good luck!

AJ

Hey Mason,

Welcome to BP! I think it depends on your situation.  If you have the time, and general construction knowledge, then being the GC on *most* flips works well.  I say most because some can get pretty hairy.  I'm a high school teacher and I GC all my own flips.  I have built relationships with subs who are reliable and good at what they do. It works well, but it took me a few flips to get everything in place.  Like most things, it comes down to where you want to put your energy, time, and money.

Best of luck,

AJ

We have done 100% financing. 20% from the seller for a down payment and then 80% from the bank. No money out of your own pocket. Make sure it still cash flows!

Hey @Jack McWatters,

One thing you could try is to pursue seller-finance deals with owners. This has worked well for us and can also be a win-win for you and the seller.

BP wrote the following guide: https://www.biggerpockets.com/...

Best-

AJ

Hey @Jacob Bogenschuetz,

There is a chance that your realtor may not get a commision on a seller finance deal.  That could influcence thier interest in it.

We have done several SF deals.  They are great, IMO.  No trouble with our bank or my own mortgage, etc.  Here is the BP guide: https://www.biggerpockets.com/...

Good luck!

Hey Matt,

It’s a good question. We have the same type of issue here in Iowa City. Prices are high in town. We have properties in IC and in smaller towns surrounding it.  All of them do well, but our margins in town are tighter for sure.  We are hoping that our IC props go up in value at a quicker rate as we force appreciation. Does your Urbana stuff go up in value much?

Also... off topic, but was your dad a teacher at CHS?

Hi @Andrew Kougl, 

Have you tried Hills Bank? We do all our lending through them and the relationship is great. Let me know if you are interested and I’ll shoot you a few names. 

Good luck,

AJ 

Hi @Tarun Bharadwaj!

Welcome to BP!  My advice: Read a whole bunch!  Here is a good list: 

https://www.biggerpockets.com/blog/wp-content/uploads/2018/11/Best-Real-Estate-Books-Ever.pdf

Good Luck!

AJ

Hi @Briana Bean,

We use the Spark Business Card for everything. It gives you 2% back on all purchases, so not as high as 5%, but we run all expenses through it.

Good luck!

AJ