All Forum Posts by: Braden Schlabs

Thanks for the clarification. So if a prospective investor would like to get into real estate as a cash partner, what are the pros and cons of each method? In the explanation you gave above, it seems that it would be more secure to invest as private money lender as you can take back the property if they are unable to keep up with interest payments. What type of return does a typical private money lender receive? For someone who is considering becoming a cash partner and is relatively new to the world of real estate which would you say is the better route?

Hello,

I am a new to the game and I am trying to wrap my head around some of the terms I see used a lot on these forums. I would like to know the difference between hard money lenders, equity partners, and private money. To me, it sounds like these are very similar ways to receive money for deals without going the conventional route of getting a mortgage. Are the deals structured differently between the three, or what are the main differences?

Thanks

Braden

Hello everyone,

I would like to know if there are any tricks to the trade on how you estimate your repair costs on a house before you submit an offer? I am new to the game and am trying insure that I am able to accurately calculate ARV's. Ideally, I would like to have a contractor with me as I scout for prospective deals, but I know this is unrealistic and unprofessional (don't want to waste the contractor's time). What did you do on your first buy to ensure that you had an accurate estimate?

-Braden  

Hey everyone!

I am a 25 year old newbie from Lubbock, Texas. I have been lurking around this site for the past  year and finally decided to become an official BP member.  I am a very excited to join BiggerPockets & ready to soak up as much knowledge as possible before making the leap into RE investing.

I would eventually love to transition from healthcare to FT investor, but realize this will take some time. I believe my profession will allow for an easy transition since I can slowly move from FT/PT/PRN as I build my business. This will also help me mitigate risks and build capital for my first investments. If anyone has made this type of transition work for them please share any tips you have!

I would like to focus on rentals & flips, but I am open to learning all tricks of the trade as well. After reading through the UBG and other articles, I believe the strategy I would like to use on my first investments is BRRRR. If there are investors out there that have used BRRRR on their first go-around, I would greatly appreciate any insight you are willing to offer. Also, I would love to get to know any RE investors in my area. Please feel free to reach out!

Thanks!

Braden