All Forum Posts by: Stu Johnson

Hello all, I’m about to get my license soon in the good state of Arizona. I’m looking to do my own syndication deals (general partner) to buy/sell apartment buildings and make my own commissions. I could elect to reinvest the commission to the property to make improvements, but get a bigger cut of the equity, and cash profit dividends. Or, I can keep my commissions and let my partners get a bigger equity position and more of the monthly cash flow. I want to know if anyone else has done something like this?

Hello all, I’m about to get my license soon in the good state of Arizona. I’m looking to do my own syndication deals (general partner) to buy/sell apartment buildings and make my own commissions. I could elect to reinvest the commission to the property to make improvements, but get a bigger cut of the equity, and cash profit dividends. Or, I can keep my commissions and let my partners get a bigger equity position and more of the monthly cash flow. I want to know if anyone else has done something like this?

I am looking to buy my first property as a primary residence with a second generation home I'm looking to rent out. The property is worth $540000, and I'm saved about 10% down. However, my DTI comes out to 65% and I'm making 70000/year. Are there any lenders that would approve me? Otherwise, is there any other strategy to finance the home? Thanks

I'm just wondering what legal or government sources are there to find out of state landlord lords.

I also wonder if there is a legal structured contract that if I were to partner with an "out of state" landlord with tenant recruitment, property management, and rental collection if profits AND equity on a property can be split 50/50.  

Thanks

Hello folks it's been a while. I just need some advise on how to start real estate portfolio but let me explain my idea. Earlier this week I was going to my Arizona State University class in real estate investments and the professor had brought up the topic on how to start a portfolio of investments, particularly in residential property. He stated something that made me do a double take and I've been scratching my head on it ever since. He said try to buy your dream home first, build equity, then use that to begin an real estate investment portfolio. I particularly came with a dream home that I had in mind that I would love to spend forever in. http://www.richmondamerican.com/Arizona/Phoenix-new-homes/Queen-Creek/La-Jara-Farms/Robert/ here is the link of my dream home and model. It's a big house on a one acre back yard lot just on the outside of Mesa-Gilbert area. Development is going that way so I know appreciation on this lot is only going to go up making it harder on me. Anyways the professor said to buy your big house, get equity and then use it to buy rental properties. My plan about it is to buy this house with 20%+ down payment, then live in it for a while. After that, find a lender that will allow 100% equity line of credit/loan to purchase smaller rental properties. Currently, I have about 10k in savings but I need 90k more to go....(yikes) and I plan on saving some more after that just for reserves. I'm currently earning a wage of 31k a year but it's a night job and I have lots of time in the mornings to do other projects to help reach this goal. Pretty soon I might be getting a promo after I graduate this year making 50-60k My only questions are: Has anyone bought their dream house as their first house and manifested their equity in their house to build their investment portfolio? What do lenders look at when you're applying for an equity line of credit? I am hoping to buy the dream home and immediately manifest the 20% equity I bought the dream home with to purchase smaller rental properties. Now what do you think?

Hello folks,

I'm am interested in the whole title company involving in wholesaling and what they would need from a wholesaler.  Plus, anyone know any title companies in az?

Thanks,

Hey guys, 

I'm another one of the new people who is inspired by starting REI as a business to get into and I've been doing my homework however I cannot seem to find the answer to one of my questions:

I am currently not a home owner and currently an employee at a Wells Fargo Bank.  That being said, I can get the benefits of having discounted loans on a whole half of a percent interest off the market rate should I buy a house.  I also know there are amazing benefits when people go buying their VERY first house as well.  In short, I can use the benefits of both world's in conjunction.  

However, I also like to start wholesaling some transactions to start the REI business. My question is: Is it better to buy your first house before you start your wholesaling real estate investments? I was thinking wholesaling properties from seller to the would be buyer, and technically, you would not have "ownership" in that house if the transaction is going to the would be buyer. Would making a wholesaling transaction nullify the benefits of buying your VERY first home?

Thanks,

Stu