All Forum Posts by: Jack Lee

That's what I was thinking too. I had my doubts when I heard them. BTW, I going to be a sophomore in College so I still have like 3 years to learn more before I step into the real world.

But my current 5 year plan is to buy a few SFR's in my free time, work for commercial real estate company, and tackle multimillion deals when I have enough knowledge and a record.

Thank you,

I am quite unsure as well. I have been told by various people to start big and jump into the multimillion residential complexes market is really not such a bad idea. I have seen good negotiation skills get 15% of profits with only sweat equity on a $7 million deal. But I am certain that raising capital without further experience will be hell.

For now, I want to own just one SFR. I was not aware that the mortgage requirements are so stringent right now. Is this the case even for FHA loans to low income individuals (I am a student and make at most $3000 a year- will probably have to get parents to cosign)?

Edit: I currently for a small real estate private equity firm and am a student. Is it even possible to go organize commercial multifamily deals straight out of college?

Davis, since your LLC has no history and no assets, any mortgage made MUST be personally backed by you (and probably your parents). It will be recourse and make you personally liable, like others have mentioned.

Owner Occupancy seems like a good idea. Keep in mind that you will not receive income for potentially many months from the property if you do owner occupancy. Unless some "unforseen" event forces you to move and you are able to rent the house before two years.

James, Thank you for the input. There is still a great deal about property management and local real estate laws I need to learn more about if I am buying SFRs. I am not sure what type of returns the investors are looking for after negotiations. 15-20% IRR is doable but I see angel groups, not even venture capital, demanding ridiculous returns.

Nick can you please clarify? I am unsure how I can turn into Don Draper with shurikens.

Hey guys,

I want to continue my real estate investment education. I have read roughly 2 dozen books on real estate, corporations, and business management. Currently a real estate investment intern.

I want to purchase a property before I graduate college (in 3 years) and can muster roughly $30000 in equity when I choose to.

Things I understand moderately:

Corporate entities and taxes
Cashflow Analysis
Real Estate Excel Modeling
Comparisons for Large Multifamily complexes

How would you guys advise me to continue to learn and progress? I'm have a difficult time trying to come up ways to raise capital besides resorting to angel investors. If I do, I fear I will be laughed out of the room because I am young and have only a year or so of experience.