All Forum Posts by: Corey Frank

@Jessica Coulter Hello Jessica! I feel your dilemma. I listened to a bp podcast a few weeks ago that talked about mentors. This specific podcast was being told by the "mentors" perspective. He talked about how a young kid approached him who was also very unsure about his next steps. This particular mentor told the kid to go out and do particular research and when he was done researching, to come back with anything the kid did not understand, to had to ask the mentor. After doing this, the kid was able to identify the next step and the next step after that. It also allowed him to "practice and ask stupid questions" with the mentor that would be very big problems if they were put off until he tried to buy a property. 

What I took away from this podcast was, at least have some type of plan identified that you want to do (multifamily, sfh, short term rentals ect) then you can study yourself. Once you have a basic understanding, you will have questions. Being able to connect with someone (a mentor) that has done it before will give you something to talk about (your questions) and will show that person you are willing to do the work to learn.  I looked for the podcast that comes to mind but am unable to find it. 😬 Hope this helps! 😁

@Leopoldo J Tamargo hello Leopoldo! I am in the same boat, brand new/not brand new haha! Looking at your report it seems like a good deal to this newb! As long as you have the 60k upfront to put into the deal ! 😁

@Peter Morgan Are you using a Hvac repair company or a handyman? Will the company wave the diagnostic fee if you have them do the work and buy the parts through them? Can you ask them what a brand new Hvac unit will cost (unit and labor)? Compare the warranties (of the replaced motor or the brand new unit)

@Jaron Walling That is for sure. I am far from interested in that as well. 

@Michael Carbonare Wow that sounds like an amazing journey. A fun journey. Thank you for that. 

@Michael Carbonare how do you personally, or how did you (when you were a new investor) get our of your comfort zone?

@Jaron Walling do you mean cashflow is hard to find now days in these markets? or cashflow is hard to find when holding long term?

As a very new investor this information is very valuable! What are a few things you include in your spreed sheet?  

Are these federal regulations that no bank can let a buyer put less then 20% down? What about LTV?

@Nick Dunin I am very interested about this. Do you have a lot of equity when buying the property perhaps? Is the LTV 85/15?