All Forum Posts by: Jeff Schemmel

@Scott Danielson remine is built into the MLS Matrix Portal and is pretty easy to use to generate data for any type of list you'd want. Also, Mojo Dialer has been helpful as well.

@Tim Swierczek may be able to provide some advice here.

@Devin Dang you have a guy?

The first down payment is really hard! :)  Keep going, and focus on earning more.  Spend less in the short term if you can see the light at the end of the tunnel.  I think partnering on deals is great, but I'm a huge fan of doing your first deal yourself.  Build confidence in yourself, learn how to manage a property and be a landlord, and network like crazy - tell everyone what you're doing.  Once you get that first one, just soak it all in and let yourself learn.  if you can find a deal where you have some leverage you have a higher chance of saving money on closing costs...that's not a small sum.  On a 300k property that will be in the ballpark of 10k cash you could keep in your pocket as reserves if you can negotiate it.  That may be enough to allow you to sleep at night!  Good luck.

@Jordan Moorhead know anyone that way?

Hi Wen, I really strongly encourage you to try and complete these things on your own.  They're all easy tasks that you could probably complete in an afternoon.  If you require a handyman for some specific reason I'll send you a DM with a good one.

@Maureen Simmons I will do my best to work around the obvious!  Hope some of this helps :)  I bought my first house hack for $5,000 on a 130k purchase price.  I'm not sure that's available to you there, but it was a condo and i rented the other room to a friend for $500.  I think it's a great way to start and you usually get better lending terms on primary residences.

1.) I recommend house hacking.  earn rent while offsetting one of your biggest expenses.
2.) drop the cards until you have a larger cash stack
3.) if you have a co-signer, get them onboard pronto - this could be your best option to buy a house hack.
4.) if you're in the business you likely know lenders pretty well at this point.  Many lenders I work with are investment-focused and either are ready to lend privately or know plenty of people who do if presented with the right plan.
5.) ask these lenders about rolling your commission into the deal to lower your cost.
6.) use down payment assistance - there are likely some local programs for first time buyers.  even if you've bought and sold once before....if enough time passes you can have this option again.
7.) use your FHA loan if at all possible.
8.) look for a contract for deed with good terms - this is a long uphill battle and you'll need to find the right seller and nurture that relationship - not quick or likely to see this come to fruition.

9.) explore rental arbitrage, but check with your broker first to see if they will allow you to be managing property while they hold your license.

curious what the cost is on something like that?  If it's not too much it may be worth it to just experiment.  My parents do this almost every year, and they prefer it to a crowded campground.

From my perspective, I'm seeing a bit more buyer leverage than previous, but the nicer quality properties still go quick in multiples.  Inventory is still very low here and for that reason most listings are competitive.  

Regarding area, it's hard to speculate without discussing more of your goals and where you're at in your investing.  I work with out of state buyers and one thing that I always get good feedback on is my neighborhood and property video tours.  If you want to chat more about that just give me a shout!  Happy to help provide any local connections and help you get acquaintanted in a way that suits your goals.

@Jacob Zimerman hey there! Thanks for the post! I'm a realtor in Saint Paul, MN, specializing in small multifamily. I really love to help people house hack, and buy their first investment property and build their careers in investing. I help out of state buyers get acquaintanted with Minneapolis and Saint Paul through video and live tours, and that has brought me many happy clients. Reach out anytime!