All Forum Posts by: Arpan Patel

Either really. Probably lean towards TX as you can get some skills in management and when it comes time to move, you will know what you are looking for as far as what a management company should do for you. Then take that skill set and apply to FL while keeping your TX portfolio growing and managed. 

Hard to say they will ever line up at your door but a good track record helps and is really the key. I'd say plan to hustle for private investors for at least 2 years and try to never let any of them down even once and you may have more people coming to you then you go out there and find. 

Just get to know the players in your area and strategies the guys who seem like they know what they are doing are executing. That might give you an idea of what is working in those areas. Other than that, just listen and have meaningful conversations with as many people as possible. I usually aim to have 5-7 really good conversations. Don't play the volume flyer game where you through your business cards around like falling snow. That never does you any good except waste perfectly good business cards

Best place is an attorney. There are some stock ones out there but I usually err on the side of an informed experience professional who you can talk to and make modifications as necessary

Yup!! Good Luck and let us here know how you are doing! Maybe people here who want to see you succeed!!

Depends on what you are borrowing at. If you are getting 3-5% then yea borrow and use towards investments. If they are more like 10% then I would probably not be so quick to borrow. Student loans can be be a range of interests and some of the subsidized and such. If you can find such loans that are low interest and subsidized then borrow and use towards investments. My dad was wishing I had done that while in college but all I was interested in was science... what a nerd move!

1) no, the bank will probably not allow it but it shouldn't matter much (unless you care about the due on sale which we don't)

2) Yes as they are now business expenses.

Good luck!

Yes, I would rather not have a mortgage on my personal home as that is peace of mind. My investments, I want to have degree of leverage because borrowing is so cheap right now. Leverage is a sword - you can slay and be be slain with it. I don't want leverage on my home so I can take larger risks outside of my home with clear conscience that if it all folds, I have something to fall back upon. In full disclosure I rent because I like the optionality of moving but very soon I'd like to get a place of my own all cash so I can feel safer in the chances I take in my investments. I hope that helps a bit

Agreed with @DJ Cummins in that just keep saving and learning for now. It'll be hard as a minor but just keep educating yourself and when you come across a deal, you will be more knowledgeable about it and therefore, it'll be easier to raise funds and such for it. Plus, you will need to learn more professionals skills and that take time, and a bit of corporate culture. Professionalism is key but when I was that young, I had none of those skills. Keep on the slow but consistent march and you'll get there!! Patience is key in this game (something I have to remind myself all the time)

I'd recommend you start with rentals first as your first flip will probably go badly but if you got a few rentals first, then you are at least making some money and then taking a bigger risk. I started with a flip and I don't wish that on anyone. It was rough so I tell everyone to start with rentals. Maybe a house hack at first and then build from there. Also, find a decent (B) area first as you will have less headaches from the neighborhoods to worry about. After 5 or so rentals with light to no rehab, then start taking on some value add properties. That is what I recommend to everyone who I meet who is looking to get started.