All Forum Posts by: Ali Hussein

@Mike Lambert 

hi mike I live in Turkey - Istanbul and you can ask me if you want about Real Estate market and the rent.

by the way the rent will paid in TRY not USD or EUR but if you will rent it for foreigners you can ask EUR or USD but TURKISH people won't pay in EUR or USD .

if you want to know anything about REAL ESTATE in Turkey just ask me

Have A Good Day 

@Michael Hooper i understand what passive income is and what is the different between passive and an income from a job but my point here is $15k/year is low , it is 
$1,250 a month , my opinion was SELL it and buy a new bigger than it that will provide much more than $15k my point is get bigger.

$15k is not a lot in those days, even if it was passive income that was my point 

My suggest is call the bank first ask them if you can refinance if the banks refuse to refinance sell the property .

Make sure the bank won't refinance before you sell. 

That is my opinion 

Good luck 

Hi Michael 

Well it depends on you , if you want to get into bigger deals you should sell the property because the $15K a year is low , in fact you don't have to buy a real estate to get $15K a year, you csn get it by working for McDonald's .

sell it for $700k and you will able to borrow $2,8 million dollars and this money can buy you a bigger deal in the same market or maybe in better market. 

BUT before you sell call the bank an ask how much you will get if you refinance the deal. And how much the new payments will be and see if the numbers work for you. 

If you ask me personally what I would do,  I would do sell and get into bigger deals that provide a great cash-flow a year

$15k is not a lot you can get it by working for mcd .

This was my opinion 

Have A Great Day , And Good luck :)

Hi Tyrone 

i am not a pro investor but i think you should call several contractors to see the property and they will give you the number, don't talk with one contractor talk with several contractors to get the best price. 

this is my little advice for you

Goodluck brother :)

Hello everyone

guys , if i have saved up some money and started my own business with legal entity LLC, C or S type corporation. And my first deal is buying a small house fixing it and selling it.

my question 

Will the bank lend me money to do the deal even if this is my very first deal in real estate,  and what the bank will look to when lending money?  

 I am thinking about Commercial loan or construction loan 

Thank you for reading my question 

Answer me if you can 

With All Love And Respect 

Thank You 

Hi everyone

When the bank will refuse lending you money ? And why ? And does the bank lend money to me if i am just graduated from collage? If no why and what should I do?  

also one of the books i have read about real estate says ( if you are going to invest in real estate multifamily deals the bank wont look to your ability to repay but will look to the property itself , then decides how much he will going to lend you 80% - 90% ) 

guys is that true? If I have a large deal 20+ units the bank won't look to my credit score ( currently I don't have any score) and look only to the NOI ?

Thank You For Reading My Question Answer Me If You Can 

With All Love And Respect :) 

Thank you so much mr Scott for your answer. i did not know there is biggerpockets money podcast i will start listening. and i will watch the interview with former FBI negotiator.

Thank You So Much For Helping Me

Thank you for posting this.

most people dont share their stories when losing money , thank you i have learned that i should ask for help from professional real estate people.

Thank You!! 

Hi 

i have questions about how to start from zero in real estate.

biggerpockets community i love real estate especially real estate developing

i would like to know how to get the capital needed the down payment to start ?

tips or books on negotiations? 

does a commercial loan cover the cost of the house and fixing costs ?

If there is a book or youtube channel or a forum the discuss these questions please write them down.

Thank You For Reading :) 

Hi 

i have questions about how to start from zero in real estate.

biggerpockets community i love real estate especially real estate developing

i would like to know how to get the capital needed the down payment to start ?

tips or books on negotiations? 

does a commercial loan cover the cost of the house and fixing costs ?

If there is a book or youtube channel or a forum the discuss these questions please write them down.

Thank You For Reading :)