All Forum Posts by: John Fortes

Thank you Charlie for that information. 

My team and I are cordinating a meet up in the Braintree/Brockton/Fall River/New Bedford areas. Please join us sometime if you ever have a chance. I appreciate you!

See if you can qualify for a Solo 401k or a QRP which is basically the same. If you can nail down one of those then you will be guarded against UBIT. Please consult with a custodian for clarification. 

Just a mindset shift. Hard money lenders typically just want passive returns (1099-INT). They don't want equity in the deal per tax reasons so they typically aren't looking to steal the deal. First position on the property is what they are seeking as hard money lenders. They want the address to make sure it is what you are saying it is. They have teams in place, if not themselves to drive the property and just put eyes on it. 

Otherwise, get it under contract and then seek the funds if that's your concern. 

Percentage you have in the deal is what you can calculate from the equity of the deal.

Congrats and God bless!

I'm more excited that you are 15 and looking into this right now. Being part of the site and already being active. Young man, you are going to do just fine in this world! Keep learning and growing. 

Here is a rule of thumb... Do what makes sense.

• If you have a deal that you are wholesaling and it makes sense for you to flip, then flip.
• If you have a flip that makes sense to keep and rent, keep and rent.
• If you have a buy and hold that makes sense to sell (someone willing to pay X amount), then sell!

What ever you do just make sure it makes sense. Every opportunity, is just that, an opportunity within itself. Deal by deal look at what makes sense. Looking forward to seeing your growth and God bless! 

That's good to know @Jillian Sidoti! My curiosity is peaked!

Ask the seller for the P&L and if you can't get it from them or their property management company, then call around to a reputable PM in the area to find out what some ideal expenses could be. Generally, you want to purchase this on actuals as you can and the more you can get from the seller the better you can do that. 

Another alternative is to get the tax returns but you can't get that unless you have it under agreement. And in most cases the seller won't provide those either. What can you ask for next? Ask for bank statements to see what the seller is bringing in and what is going out (utility wise). Usually if the taxes is a no-go bank statements is easier to get as a compromise. See if you can get some sort of P&L in the beginning. 

Unfortunately, some mom and pop type owners have poor book keeping and this is the result of it. Good luck to you!

Congrats on owning your home outright. 

You can take a HELOC against it so you are paying back what you are going to use and enjoy the passive income and there are ways to do that. Just get some education on each before you decide which strategy or way you are looking to go.

• BRRRR strategy would work but make sure you buy right.
• Fix and flips, but you will be always be looking for the next deal and most equate this to being more of a job than anything but others love the thrill and the chase of the next deal. Depends on what type you are.
• Partner up with others on a bigger opportunity (buy right, improve the property, stabilize, refinance out original investment).
• Passively invest with a syndication. More of a hands off approach as long as you vet out the syndicator and opportunity they have. Educate on this and learn more about how it may fit or may not fit what you are trying to achieve passively.

There are other ways but having a HELOC ready to go for these and using it wisely in investments is a good tool to build up your portfolio. Just as long as your using it to build and add to your wealth. But if your house is paid off, could there be a chance you save well and already have a nice savings and considering using the equity in your home is to scale up faster is what I'm assuming. Good luck to you going forward. Feel free to reach out if I can help in any way.

Most syndicators are sourcing opportunities that seek the most returns for their investors. As a syndicator, your investors are your customers and keeping them happy to come back and invest in your next deal is a big deal for me and many other syndicators. 

As an investor if the returns make sense and the opportunity is right, why wouldn't I invest in it, as long as I'm vetting the syndicator and team members thoroughly.