All Forum Posts by: Andrew Hansinger

Gotcha.  So basically don't F* it up.  Sounds stressful and risky, but I guess that's what you get in exchange for no upfront costs.

Okay, I've been on the site for a few weeks, so please pardon my ignorance, but I feel like I'm missing a crucial piece of information that is likely so obvious its not really brought up when people talk about no money down.

I don't understand how one can profit with no money down in a flip, or buy and hold deal. If a lender is covering 80% and OPM is putting down the other 20%... how are you entitled to any return? How can you claim equity/cash flow?  Is this something you negotiate with the private investor supplying the OPM?  If you could point me to a blogpost that explains this, that would be helpful.

Thanks!

Thanks Daniel for the great advice! Looking forward to seeing how things progress for the both of us!

Hi All,

I'll be moving back to Minneapolis in June 2016 and am doing some preliminary research into multi-family homes.  My intention would be to rent out the other units of course and start building my real estate portfolio from there.

Just doing some research in the area, it doesn't look like there are too many multi-family homes in nice neighborhoods within an affordable price range.  Do you have any recommendations on the following?

• Continue renting when I return and purchase a multi-family unit in an area I don't intend to live
• Suck it up and live in a neighborhood I am not comfortable with so I can make some cash to eventually move out and on to the next thing
• Are there any decent areas for first time home buyers that I am just completely missing?
• Do you recommend getting in touch with an Agent immediately upon my return to discuss all this?

Thanks, total noob here and looking for some direction.  

Hey Jordan - sorry I can't offer any advice on this, but I'm going to follow the post as I'm interested to see what comes of it.

Great job dude! Must be exciting.

Hey there. I'm 27 and have been spending a lot of time "at work" reading articles on BP. I'm very curious and know that the best way to learn a business is to be in business but have limited resources at the moment. Happy to say that this was my first year I was able to contribute max to my Roth IRA and still have plenty of months before April 2016! I would consider myself a long-term investor because of my age, so I don't get scared easily by drops in the market (like the recent week).

Also, timing is everything! I'm currently living abroad (don't tell my brokerage!) and plan on having enough when I return in June to put money down on my first house.  I'm hoping to pool funds with a buddy of mine so we would buy the house together and rent out rooms to friends.  I've lived with these guys for about 2 years already and things go really well.  

Some hesitations:  a) living with tenants b) having my tenants be my friends.  If its my mortgage, and I'm renting out to make money, its going to be clear that they are paying rent in order for me to pocket some money (might be awkward?)

Anyways, that's where I'm at, wasn't really looking for advice but BP wants me to get involved with the forums lol so here's to my first post!