All Forum Posts by: Account Closed

Thanks all for the input, it is greatly appreciated!

@Tim Phun @Jon H. @Ali Boone

Thank you @Earl McFarland

Thanks @Tom S. - but isn't that what saving a part of the rent is for? Or are you suggesting to have that money available up front just in case? Thanks again.

Thank you so much @Mara Altman ! That was extremely helpful. :)

@Mara Altman I'm new so please forgive my elementary questions -

So to find deals for buy-and-hold properties, you used similar marketing strategies that a wholesaler would? i.e., finding owners, sending letters, etc. If you didn't have all cash for a property, what was your angle for buying their property?

I didn't think of that strategy to find properties, I am still stuck on looking at listings and through turnkey companies.

Thank you :)

Thank you @Dawn Anastasi and @Jose Enage !

That I can buy a rental property with none of my own money?

I want to:

-Use a private lender to come up with the down payment

-Get a conventional loan

-Pay the private lender interest only until I refinance and pull the equity out to pay back the original loan amount

Is this even possible? I have doubt that a mortgage lender will allow me to use "loaned" money as a down payment and I have doubt that I can refinance and pull out 20% equity.

Thank you in advance for the advice!

Hi Mike, welcome!

I haven't made any investments yet, but I've decided that California in general will just not be for me. I'm looking for out-of-state properties to buy/hold, although I'm not sure where. The popular areas I've seen on the forums are: major cities in Texas, Atlanta, Indianapolis, Memphis but I haven't done much research yet.

Best of luck!

congratulations! great work, very inspirational. :)

Hey Joe, welcome! We work in very similar fields, in fact my next BIM meeting is in a few minutes. :)
Best of luck to you, I'm a newb too!