All Forum Posts by: Austin Youmans

It is a tough market especially for new investors wanting to put a low down payment.

Be patient and examine your options.
Look at neighboring cities and you should have better luck but it will still take some persistence to find the good deals.

I did it online at http://trainagents.com/ and passed the test. I haven't used anyone else so I can't compare it for you but they have a slideshow for you to read the information or an audio lecture which is nice as I listened while at my day job. You take a quiz after each section and then there are 3 practice tests at the end of the course.

Let me know if you have any questions.

It depends... what kind of deal can you get if you take it out?

can you cover the lost of cash flow on y our first rental when you refinance and make additional cash flow on top of that with a new deal?

Also if you go to a 30 year note it would lower your monthely payments.

I would just be truthful with the buyer and move forward with the eviction.
If he is going to live in one unit anyways, why not that one?

Just run the numbers on (2) duplexes and (1) fourplex in your area and see what is better. I think it depends more on the deals you can find and less on the number of units. I wanted a fourplex but could not find a good deal on one so I went to duplexes.

Welcome Cole!

There is a wealth of information on this side and books out there so have fun. I am in Vancouver so let me know if you have any questions. 

Welcome to BP!

What parts of the contruction industy did you work in?

I am in the Vancouver area.
Let us know how your yellow letter campaign goes.

Nothing wrong with partners. Just be clear and put each others roles in writing. Try to be specific as possible such as who pays for what and what happens if there is an unexpected expense, who deals with contractors, etc.

You do not need a license to wholsale but be careful how you advertise.
You don't need a license because you are selling a contract not the real estate.

get a pre-approval first as you will want to submit a pre-approval letter with your offer. But keep anylyzing deals to find a good one.