All Forum Posts by: Alex Franks

@Alex Franks

But can I really make a living selling homes that are 2 hours away? Currently, my mom works almost all day showing houses to clients, and I don't know how I would be able to do that if I live so far away. I can use my license to search the MLS, but I'm not sure if I would be able to use my license to become a realtor.

Also, I was thinking about purchasing a multiplex using an FHA/203k loan to get started. What do you think about that?

Oh that's awesome. Do you know about Boardy Barn? I went for the first time on Memorial Day Weekend

Hi, everyone, I hope this thread will find you well. I am William, from Charlotte, NC. I owned several single family homes and several town homes. I just found that it was too slow to expand the units. Therefore I want to take a look the small apartment buildings such as duplex, quadruplex , ect. However, I found all of them ( I can found on MLS) are kind of crappy: old (most of them are before 1970) and bad locations. Of course, I am new to multifamily properties so I maybe wrong. My problem is how to find a decent multifamily property ( relatively new, not so bad location), etc?

I am also wondering how you guys expand your portfolio quickly.

Any thought is appreciated. 

Very detailed @Curtis Waters. Thank you for the info!

@Alex Franks

Thanks for the response Alex! How would a real estate license benefit me if my mom already has her license? 

Yup, I've been reading tons and am definitely going to start attending real estate meetings to learn more and also find a mentor to guide me through the ropes. No way, I graduated from Stony Brook University and live in Farmingville right now!

Thanks for all the help Alex!

Hi everyone! :) I am currently working in Long Island, NY and would like to begin investing in real estate in my hometown, Westchester, NY (about 2 hours away), because my mom is a real estate agent and I understand the market better. I've been applying to jobs near my hometown to move closer, but no companies seem to be contacting back. I would like to make real estate investing my career as soon as possible, but I feel as though I can't begin doing any investing because I don't have experience and don't live near the market I am investing in. Is there anything I can do to get my feet wet? Do you think it's possible to quit my job and invest in real estate full-time with no experience?

Thanks for your input!

Scrolling through older posts looking for the breakdown of Charlotte zip codes! Hoping to find some clarity (examples) of what people consider "B" and "C" neighborhoods.

hello everyone 

I'm brand new to investing. I'm in Asheville nc and would love any advice on where to start 

Hello BP Community! My name is Andrew, I'm 25, married and brand new to BP and real estate investing. My father and I are hoping to build a portfolio of buy and hold homes for rent. We live in Niagara, Ontario, Canada about 1 hour south of Toronto.

The market in our area is on record high right now, everything is in a bidding war with many homes going as high as $40K higher than asking price. Most homes we're considering are single either detached or semi and are listed between $200K-$300K

My question is, even if we can afford to buy a home is now a bad time to invest and should we be waiting this out? Or should we get in now before things get out of control?

Hello,

My name is Pete and I am located in San Francisco, CA. I currently own a couple of cash flow focused rental properties in Southern California (where I am from) and a primary residence in San Francisco. All are condos. 

I have a full time gig in education, but interested in looking out for opportunities to continue to build passive income through cash flow real estate investments. I'd like to move towards SFH opportunities and eventually build enough monthly cash flow to where I can retire early and spend more time with family (I have a 10 month little guy). It's a ways off, but looking to build on what I have.

I look forward to learning and gaining knowledge as well as helping out where I can. 

Pete

I am attempting to make that jump from SFR rentals to MultiFam. Just like Rich Dad taught me, Right? Trade in little green houses for the big red hotels! But, turns out, it is quite a jump. I have talked to many national and local lenders and have two brokers working on it, but I am not finding the funding I need. Nobody wants to do more than 70% LTV. The apartment complex I want to buy is a great deal, has amazing cash flow, and opportunity to add value for a great exit plan. But, my little company just doesn't have the cash for such a large down payment. I know I can look for investors to partner with, but I really want to do my first one by myself to establish a good track record.

There are a lot of smart experienced multifam investors out there on BP and I am hoping you might steer me to a lender willing to take a bigger share of the risk or share some advise on how to find one.  The numbers are really good, the Charleston market is very stable, my company has a Paydex score of 80 and my credit score is 830.

Thanks, Tim