All Forum Posts by: Heath Ryans

@Kade T. Brunson I purchased my first property (4 plex) while I was in your same position. Being on BP is the first step. Listen to the podcasts, soak up all the info, and ask when you have questions. Second, you need to start networking with investors in your local market or where you plan to invest ASAP. At this point in time, many meetups are virtual. It's not as great as in person networking, but it works for now. Search on meetup(dot)com, Facebook, and BP for investor meetings in your area. It takes time and work, but you can absolutely do your first deal in the near future.

@Izaiah Barba pitch an owner financing sale to him. Go for the lowest possible downpayment with the longest possible amortization that will allow to him to maintain his lifestyle through the monthly payments. That way he's not getting crushed by a huge lump sum capital gains tax. He will only be taxed on the amount he receives each year. That will allow you to get in with hopefully a lower downpayment to boost your returns, and him to get rid of the headache with a lower tax burden.

@Michael Kiger

I run the local REI group. Feel free to shoot me a message with more specifics and I'll send you a link to our meetup group and facebook page.

Ask every single question that comes to mind. If you are going to buy a property, you shouldn't have any questions left to ask before your due diligence period is over. 

Arrive at verbal agreement with seller > fill out and sign PSA > immediately send PSA to title company or attorney depending on the state laws > deposit EMD if required > title co/atty begins title search > you begin due diligence, approach lenders, inspections, appraisals, ect > if everything checks out, show up at closing table and sign closing docs > it's yours so begin implementing your strategies

Check out Equity Max. It's a hard money group based out of Florida. I've heard of a few people in my area using them.

There is no such thing as fast money. At 17, you still can't legally enter into a contract so you need to continue educating yourself and start attending REI meetings and networking. That networking will be your life line. Build the relationships with investors in your target market, learn from them, bring value to them, then one day you will be able to partner with them and grow at a much faster rate than you ever could on your own.

In summary, network and learn.

Go to your local REI meetups, meet local buyers, and ask what their metrics are.

I have been on both the lending and receiving end of private loans through Equity Trust. So far so good. No real complaints. They have some good information on their website. It's trustetc(dot)com 

@James Martella

I believe you are referencing the Estopple Certificate.