All Forum Posts by: Dustin Tucker

@Diane Jacob

Congratulations on your journey.

1. I would suggest finding an experienced investor and doing one to three projects with them so that you learn and come out profitable.

2. As a lender our minimum loan size is $50,000, but as a loan design for repairing properties the minimum loan size does not have to be met at purchase. Here is an example of a recent project I was able to fund.

Purchase Price- $35,000

Rehab- $30,000

Arv $100,000

We funded $25,000 @ purchase and $30,000 for repairs for a total loan size of $55,000.

If you're living in the midwest I think that there are great opportunities to purchase 2 to 4 unit properties and rent them out I would stay out of Illinois the tenant laws are not favorable to you as a landlord.

@William Johnny If you want to get into real estate, you mostlikely need to be earning $100k plus, yoi should get your real estate license and start aprenticing under a seasoned investor. This way when you find the right deal you are ready to go.

@Peri Reischel I think some key topics to touch on is that we have the highest bankruptcy rate since 2008 there's a new survey out that says 26 percent of Americans are paying 50% of their income for rent. Highlight the landlord friendly States

@Hyun Park Hello Hyun, the whole point of real estate investing is to create passive income. In the beginning you will spend more time learning how it works, but at the end if you are accumulating rentals, I wouldnt expect to spend more than 5 hrs a month. There are several factors that lead to this, the primary driver is picking tenants who pay their bills. Hope this helps, dm me if you have a specific question.

@Ana Lidia Standing If you can add more details the community can provide a better answer.

1. What is the current value of house #1, and what is the loan amount and intetest rate? How much can you rent Property #1 for?

2. With a 5% down payment on house #2, where are you getting the $40k for renovations? Is it a multifamily or single family you are planning on using as air bnb?

@Joshua Telles hello Joshua, no you do not need a notary to sign your lease for it to be valid. Any lease over 1 year must be in writing, here is a good read on texas Leases, if you dont have a standard texas lease DM me and i will email you a blank copy. https://www.findlaw.com/state/texas-law/texas-leases-and-rental-agreements-laws.html

@Piper Watson You really need a 680 or better fico to do any real estate investing, with $20k you might be able to find a subject to property, but you would becstuck with the 620 fico. If I were you I would pay down my Debt, join your local real estate Club, learn how to search for deals and wholesale, and then start buying once you have built up enough cash Reserves

@Scott Champion Since you have been investing since 2018, keep doing what you have been doing, if you dont have your real estate license get it, investing in yourself is a can't lose scenario. I think a bigger reset is coming in the coming 3-6 months, so i would be extra picky in my deal analysis. If you are looking at multi family investing check out lifestyles unlimited they have a great program

@Melissa Odom Hello Melissa, can you dm me your projects? We have the option to to get you funded up to 75% and at 50% less origination fees, I would need to know your fico, and rental list. Thanks

@Ashley Nelson You may want to take a longer term approach and rehab 1 unit at a time. The market for 5+ unit loans is almost impossible right now. If i were you i would Join, lifestiles Unlimited, they have a multifamily group that would put up the $400k, for an equity stake.