All Forum Posts by: Eliott Elias

You are going to want to have many conversations with the city zoning and planning departments. They should be able to tell you exactly what the restrictions are with the property. In terms of the contract, I would get a investor friend or realtor to help you.

90% of lenders are going to want to see at least a six-month seasoning before giving you this loan. Some may be able to do it sooner, but the loan to value will be terrible.

Love your name. I would say BRRRR is one of the most overrated and overhyped methods in real estate. The concept sounds cool, but when you compare it to everything else, it is the slowest way to build wealth. You will make no money along the way and your renters will barely be paying your rents. I suggest building as much capital as possible, starting out and expanding your options that way.

 The ones I have worked with were constantly calling me regarding issues that I felt like they should have handled. Examples; pest control, lawn care, who pays utilities, etc... Maybe this was just my experience. 

The seller should be disclosing any liens from the property. In any case, whatever the seller nets minus liens is their business, not yours.

On a sidenote, I would not buy at 80% in todays market.

A buyers market is always ideal if you are holding. You will have more leverage for negotiations. A sellers market is really only good when you are doing quick flips, and property is very easy to sell.

Wholesalers mainly market direct to Seller. This is going to cost a lot of your time and money. It may be more economical for you to have wholesalers bring your deals on a silver platter. To get deals like wholesalers you are going to have to build a sales team.

Hi Elvin, welcome to biggerpockets. I personally invest in San Antonio and believe it is a great market. It is still affordable compared to the rest of the major cities in Texas. Happy to connect and talk real estate anytime.

Your lending options don't only change with entities. They shrink with the type of assets you are buying. With single-family you can pretty much only get DSCR loans and commercial financing with balloons. There are some DSCR lenders that require you to have an LLC and pretty much all Hard Money Lenders require the property to be closed in an entity.

Foreclosures are a delicate situation, and the sellers get bombarded with phone calls. What you should know is not all these sellers necessarily need to sell. Some get loan modifications, some actually come up with the money. Most need to sell and have already been talking to other investors. You need to stand out amongst them.