All Forum Posts by: Jake S.

Thank you for the detailed information about getting pre-approved for a mortgage. The steps you've outlined are very helpful and provide a great starting point for anyone looking to purchase a home. It's important to understand the pre-approval process and what it entails, as well as the fact that pre-approval does not guarantee final loan approval. The tips you've provided, such as checking your credit report and gathering financial documents, are also essential in preparing for the mortgage application process. Thanks again for sharing this valuable information.

Welcome and good on you for getting started young.

Right now, just invest time into learning. I highly recommend the numerous books here on Biggerpockets and getting started that way.

For you, id start with househacking (search on BP to learn more) and slowly grow from there.

Best of luck to you man

If only one person in the couple is actively involved, Id only have them as a member of the LLC. Keeps it simple!

Congratulations on your successful investment in a triplex! If you are interested in purchasing larger commercial properties, you may want to consider looking into financing options specifically for commercial real estate. Some options include commercial mortgages, SBA loans, and portfolio loans. It's important to have a solid financial foundation, with a good credit score and income, to increase your chances of being approved for these types of loans. Additionally, networking and building relationships with investors and lenders in the industry can also be helpful in securing financing for larger properties.

You can look at bringing in outside investors/partners to help with the initial closing amount. Remember, when apartments are underwritten, the lender wants to see experience and for the property to have a good DSCR

Hey Amarion! Fellow MN'sotan here

Keep on studying and absorbing all the free content you can. At the same time, id definitely recommend building up a network and a solid RE investing team (Realtor, lender, insurance broker, attorney, etc.)

If you dont already own a home, id highly recommend some form of househacking as well. Its a no brainer way to get started on your RE investing journey

Welcome Ken! Glad to have you guys here!!

I dont think itd be a bad idea to get your licenses but by no means is it necessary! You should definitely attend meetings and grow your network! 

Right now I wouldnt bother with cold calling. Id invest your time heavily into learning and absorbing all the great content on BP and the many books there are. If you want to own your own home, I 100% recommend House hacking either via renting a room out or buying a duplex with a FHA loan and living there a couple of years.

With the license, perhaps focus on your desired education first and foremost and get your starst in REI via house hacking

Awesome to see you get started!

Hi Blake

This may be able to help. https://mypropertystats.com/fe...

This is a good resource for you! https://myperfectmortgage.com/...

Welcome! This book is a good start

https://store.biggerpockets.co...