All Forum Posts by: Frank Hinck

@Drew Whitehead

Are you saying you have access to a $5,000,000 loan at 1%? Perhaps clarify more

@Mason Barnard

Chicago is very tenant friendly, might be tough to learn property mgmt in that market with the tenant friendly laws. perhaps invest out of state (OOS).

@Kyle Posey

Watch out for paying UBIT, ask your accountant. Many businesses own their building and some have tenants as well.

@Dominique Garza

House Hack with an FHA loan.

@Tom Vanderlinden

Build Rapport plain and simple when you cold call. Pull lists, scrub them against the DNC List, and cold call, call, call, call. Use a software like Podio to track the addresses.

@Scott Justynowicz

You can buy it without an agent. Keep the real estate agents out of it. Losing 8% in closing costs - you could be paying that to her. Perhaps she would Seller Finance it to you and take the monthly payouts, at her age Fixed Income payouts like that make sense.

@Paris Ambush

California is a tough state to LL in, especially for a first time investor / LL.

@Jay Ogilvie

Take a year, I know it seems long but trust us real estate and “deals” will still be there albeit anything you’re looking at now won’t. Take a year and 1- listen to a BP Show per day, 2-cut your living expenses as much as you can believe it or not you can find $1,500/month by reducing rent & car & cutting luxury expanses and in a year you will have $18,000 - this will suck but it’s an investment!! 3-Network! On BP forums, meetups, REIAs, coffees, find your local experienced operators/NOT paid gurus and see if you can help them find deals, drive for dollars, analyze deals, line up contractors - it’s your unpaid internship to soak up as much experience as you can handle.

I’d do the first 1-2-3 on your own, become an established owner & operator. Once you have a good rep & portfolio of properties it will be easier to A-attract investors, B-ensure trust and earn full operating trust. Plus come 4 mortgages you will need other folks to help take on the mortgage (actually 10 but some banks stop you at 4). Document your entire process from evaluation, buy, rehab, rent refinance - even in a picture flip book so you can show others what you’ve done and why you deserve to be trust with their investment.

@Andrew Semler

Take a year, I know it seems long but trust us real estate and “deals” will still be there albeit anything you’re looking at now won’t. Take a year and 1- listen to a BP Show per day, 2-cut your living expenses as much as you can believe it or not you can find $1,500/month by reducing rent & car & cutting luxury expanses and in a year you will have $18,000 - this will suck but it’s an investment!! 3-Network! On BP forums, meetups, REIAs, coffees, find your local experienced operators/NOT paid gurus and see if you can help them find deals, drive for dollars, analyze deals, line up contractors - it’s your unpaid internship to soak up as much experience as you can handle - - best of luck!!

@Vincent Serpico

Many couples do this. Also if you file jointly you can qualify as a Real Estate Professional and take the losses - read more about that in BP Blogs.