All Forum Posts by: Jesse Brooks

Hi Everyone!

I am an established residential realtor here in Southern Maine. I work as a junior agent on a two-person team, with a lot of direct mentorship from my team lead that is invaluable for residential investment projects. I recently onboarded a client who is looking to do a larger scale commercial deal, ideally NNN retail or industrial, not residential. My team lead and I both have limited experience in non-residential commercial REI, and so I've been binging all the content I can about it. I want to be as proficient as possible, as the topic is so incredibly complex, and so I'm curious if there are any excellent books anyone recommends for a crash course on the intricacies of commercial rei. I'm also curious if there are any online resources anyone recommends for analyzing localized commercial market data.

P.S. If anyone is a commercial investor in southern Maine, let me buy you coffee and pick your brain- DM me. 

As everyone else is saying, seller financing is probably really going to be your only option for 0%. You potentially could do a partership with someone who could supply the money for a downpayment. This won't work for urban areas or non-primary residences, and would have to be single unit, but if you'd consider doing something like a live-in flip you could look at USDA:RD loans and then refi to hold or just sell. Something like a USDA live-in flip might get you the capital to look at a 5% down multi or something of that nature.

I've thought of that, I suppose it couldn't hurt to ask. Probably don't have enough for DSCR downpayment, but I suppose I can just stay poised and save. Thanks for the input.

 Interesting seems like a tricky strategy for a first investment but could certainly work out if done adeptly. Will consider. Probably I'll have to bite the bullet and get a credit partner. Thanks for the input.

Hey everybody! I'm a new real estate agent in the Portland, Maine area. I'm full time as a real estate agent and also work 1099 as a carpentry apprentice on the side. I'm looking to buy my first property as a house hack ideally a 3 or 4 unit, and I have what could be a 3-5% down payment saved right now. I have a good credit score, but I'm concerned that given I'm going to have very low provable income for the next 2-3 years and not be able to secure a loan especially with a low down payment. I'm aware of seller financing as a possible option and will be on the lookout, but it certainly dramatically lowers my deal pool in an already incredibly competitive market. I'm wondering what other types of creative financing or loan products might be available for my situation. I'm ideally looking to avoid a partner, although I know that's probably one of the top options. 

Hey Nazari,

Inspiring to see you working as a carpenter while committing to the wholesaling game at the same time. I'm doing the same thing right now as a part time carpenter and real estate agent here in Portland. I'd love to chat about real estate anytime if you wanted a connect in the industry. Let me know how I can be of help!