All Forum Posts by: Eric Morel

@Benjamin Aaker  I have thought about that also.   I work a full time job in the Financial field.   I was really just looking for a side gig to make a few extra bucks I can put into real estate.   I can certainly look into real estate classes though.

Look you DSCR loans. This basis it on the rental itself. There is usually a seasoning period. I have read 6 mos, but not sure this is set in stone.

Hi All,

Since I have a pretty conservative approach to acquiring houses right now.  It will take awhile for me to get really busy acquiring houses.  I would say will do 1-3 house per year the 1st year or so.  I should have some free time to make money in other ways in real estate. I looked into wholesale, but doesn't sound like an enticing activity to do.   I know it can be lucrative, but not wanting to cold call or door knock for deals. 

I thought about learning inspections, appraisal, or something related.   Right now looking for something somewhat simple to start to earn money in the short-term.

Please share any side gigs you have done that could be fun and make money.  I want to enjoy my side gig not feel it is a grind like my day job.

Any thoughts on this???

I know that buying a home is a business decision, but when you do it with someone you are in a relationship with it also becomes an emotional one.  I would only do it if they are living life together.  You have to look at the business side.    I see a lot of good post for the business side.  

The complex part is you cannot treat it just like a business transaction due to the emotional aspect of a relationship.   I am doing this with my Fiancée. She is on the title.  We agreed going in that we would sell the home if anything happened to our relationship.  My thought is if we were married we would argue who gets the house anyway.  

Just make sure they care for the emotional side as well as business side.

OOS=Out of state

This one no, but would depend on the reason for this score.  I am responsible, but lost my job a few years back. My score dropped into the high 400s. It is nowhere near that now, but it didnt reflect me as a person, but my circumstances did. Now one account with 6 late payments..  This is a responsibility issue.  I would pass, but low score doesnt always  mean an irresponsible person.  I know we are in a credit score industry, but credit scores can be very misleading.

Looking in up and coming OOS markets and buy 1% rentals in A-C areas. There are pockets in each of the markets i am looking in that you can do that. Buy a couple and then start he BRRRR method once I am confident I have a good team built.

Also, would anyone know of a realtor in Tulsa that does owner finance or may be friendly for an investor getting started.  I have one, but it seams she is more friendly to established investors.

Hi all,

I am in the process of getting my credit and cash reserves where they need to get started. I anticipate having both where they need to be in 6 months. In the meantime, I wanted to play with the idea of seller finance. I am just not sure if I want to do it due to the Due clause in some mortgages. Also, I am not a lawyer, so I was looking for a template for a contract to protect me and the seller. I know Simeone will say please see a Mortgage/Real Estate attorney, but not ready to make that step. Still in the process of deciding if I want to do seller finance or not. My main question is is there sample contract somewhere. Also, who has been doing this with success. How does the process of getting the Seller finance into a mortgage loan in my name or the LLC. How does that work?