All Forum Posts by: Jay Ben
Jay Ben has started 33 posts and replied 64 times.
Post: Need to find somebody who knows zoning in my area
- Posts 72
- Votes 21
Hello BP fam, Can anybody recommend a good way to find somebody who knows zoning regulations and what is possible on a specific property. Or does everybody physically go to building and safety department each time?
Post: Can somebody recommend a course/program for commercial investing
- Posts 72
- Votes 21
Quote from @Ronald Rohde:
Quote from @Chris Seveney:
@Jay Ben
I would recommend going to work for a commercial developer or getting an advanced degree in real estate finance. The $25k you spend for the degree will be more valuable than paying any so called guru the same amount
For most working professionals, they can't take a job with someone else for a lower salary, just to start over in a new industry that they may or may not love. MSRED is also too niche and costly/long period for a specific skillset that still doesn't give confidence to "pull the trigger."
That said, I think the best way to learn (YouTube, podcasts, forums) is to find a partner or mentor to do the first deal. It can be a GP or JV, but that way you can see the entire process full cycle from the inside on a live deal. You should make some money, but thats not the primary motive.
My thoughts.
Post: Can somebody recommend a course/program for commercial investing
- Posts 72
- Votes 21
Quote from @Henry Clark:
@Jay Ben What aspect or approach to Commercial Investing are you looking at? Says investing above. Restaurants, parking lots, office buildings, etc. Narrow down the discussion. Also, what is your background and stage of Real Estate investing.
I would like to learn more about apartment complexes over five units and strip malls. I have not done a deal yet.
Post: Can somebody recommend a course/program for commercial investing
- Posts 72
- Votes 21
Hey BP family, Can somebody recommend a good course or program for commercial investing?
Hey BP fam, What are the best cities for adding ADU’s?
Post: Has anyone had success raising %100 capital from a hard money len
- Posts 72
- Votes 21
Hey BP family, Has anyone had success raising %100 capital from a hard money lender? I’ve seen them advertise up to %90 but is it possible to get 100%?
Quote from @Justin Moy:
Welcome!
It sounds like cash is your biggest limiting factor. If you don't have cash, I'd recommend finding that partner. It can be a hard money lender, a JV partner, friends and family, but you need to find someone who's willing to trade you their cash for your time in finding and managing deals.
To answer your proof of funds question, it depends on the types of deals you're looking at. If you are JVing or syndicating deals, you can tell people that's the case and you don't have the cash sitting in an account but you can get the cash once the deal is ready to go. Typically people will want to see a track record for you accept this answer so it may not work for your specific situation.
Unless you qualify for a VA loan, all loans will require a down payment, but even a VA loan you'll have closing costs to cover so you'll always be out of pocket when purchasing.
Is it possible to partner with a hard money lender if one doesn’t have the equity needed? Is it possible to get 100% financing? How would that be possible to jv or partner with a lender without cash? Also I replied to your comment and tried calling you at the 925 #. Thanks
Post: I find many deals and motivated sellers but need equity partners
- Posts 72
- Votes 21
Quote from @Justin Moy:
Post: I find many deals and motivated sellers but need equity partners
- Posts 72
- Votes 21
id like to work with a coach or mentor that i dont need to pay. any suggestions? I want to bring the deals and take a %. or assign a deal but i need guidance.
Post: I find many deals and motivated sellers but need equity partners
- Posts 72
- Votes 21
Hello, I find many deals and motivated sellers but I need an equity partner with money. I have no money but I get many deals on the daily.