All Forum Posts by: Eric Skinner

@Kyle Marek Did you get a deal done? I'm also in the East Bay. I've been trying to house hack a multifam for almost a year but haven't been able to get a deal done. Thinking about going OOS with a partner to split costs and risk.

@Coral Hernandez

Thanks! Is that 30% of the purchase price or ARV?

Coral Hernandez,

Thanks for your reply. I have a follow up question. What kind of downpayment do I have to come up with if I take 65% loan of the ARV?

Thanks

Thanks for your reply. You are right, things are changing day by day. I am at least 9 months to a year away from my first deal. 

Hello all,

I am a beginner still in the learning phase. What is the best way to finance a BRRR deal? Conventional loan would be difficult because I am in the high priced bay area.

Would hard money lenders even deal with a beginner? I am an electrician so I'm always around construction projects. I've just never put together a deal and ran one myself.

Thanks

Thanks for the reply Marco. I will reach out to your team for more info on turnkey investing.

Hello all,

I've been trying to get into real estate in my local market by using an FHA loan on a multi family property. The problem I am running into is either my wife and I aren't willing to live there for the 1 year requirement, they are asking way too much money (3% Cap rate), or we get out bid by the tune of 100K.

I've recently been introduced to OOS turnkey with companies like Mid South Home Buyers, Norada Real Estate, and Fig Fourplex. I am intrigued by the idea of turnkey investing but it seems almost too good to be true. 

I'd welcome you opinion on how I should get started real estate investing. Stick it out in my local market hoping to get lucky with an FHA offer? Or go OOS with a turnkey company? Maybe another idea I haven't considered yet?

Thanks for your time,

Eric