All Forum Posts by: John Mathew

I do agree with Charlie, a buyers agent will really help you big time. 

They can spot red flags. You might say home buying without a buyer’s agent is a little like grilling tenderloin without a meat thermometer: you might not know there’s a problem until you’re sitting at the table. Working with an experienced buyer’s agent can make it easier to identify and navigate issues early in the process.

A buyer's agent is also committed to representing you. Both agents can set up house tours, but unlike the listing agent who represents the seller, a buyer's agent protects the buyer's interests during the crucial negotiating and closing process. The agent bargains with the seller on the selling price, facilitates the home inspection, negotiates contingencies and assists the buyer through the closing paperwork.

Sorry to hear that Terri! Hope everything gets better soon. 

Hello German! First, get in touch with a professional home inspector and have them walk through the home with you. It’s their job to be thorough and to notice potential issues with the home that you might overlook. Ask questions, talk to them, and get recommendations for local contractors. If they’ve been in business a while, they might have good contacts.

Hello Quentin, here are common mistakes people do when analyzing their first property. Hope this helps!
Wrong part of the cycle
Ignorant of market and demographics
Not knowing the rents and property values
Unfamiliar with asset type
Bad negotiation
Fell in love with property
Overspent on repairs
Failed miserably with legal due diligence
Did not know true expenses

Hello Amy! I think You should consider hiring a property management company if:

• You have lots of properties or rental units. 
• You don't live near your rental property. 
• Your time is limited. 
• You can afford the cost. 
• You're suddenly inundated with management tasks. 
• Your property is part of an affordable housing program. 
• Hope this helps you! Have a wonderful day ahead.

@Sambit Sharma It is always better to start as an assistant or be somewhere where there is a lot of guidance for you.  Since you are a fast learner, you can always become the solo agent when you are ready.  Good luck with your future endeavors!!  

Hello David! One of the most important question you should ask yourself is whether you would buy this house to utilize as a rental property if you didn't already own it. If the response is no, you  would sell; if the response is yes, you can keep it. However from my stand view, Sell the house and go. If you want to invest in real estate, try to learn how to calculate cash flow the Bigger Pockets way so that you can make a smart decision that generates income rather than drains your bank account further. I hope this helps you in some way. Good luck on your endeavors :D

Great day Caleb!

Welcome to the real estate world.

Let me share to you a qoute by Alice Boyes that says “No one can reduce mistakes to zero, but you can learn to harness your drive to prevent them and channel it into better decision-making,”

Mistakes do tend to happen but what do we gain from it? Lessons that will build up and make us wiser. You know in BRRR You don't need a ton of money out-of-pocket to pull off a successful BRRRR. Less money down means a higher ROI, thanks to BRRRR. Let's imagine you invested $10,000 in a property. If it cash flows $2,500 per year, that's a 25% cash-on-cash return—and we haven't even started analyzing the built-up equity.

Speaking of equity, it's one of the best parts of BRRRR. Because you're specifically choosing properties with serious rehab potential, you immediately build up equity in the deal. That equity waterfalls to the next deal, keeping your net worth growing.

Hi Tenley Sage! Do remember that real estate is a long-term investment,  you can hold it for several years as you wait for it to appreciate. Maybe you can also try to leverage your funds. Leverage in real estate . In this case, you’ll take out loans from banks, mortgage lenders or credit unions and pay them back over time. This allows you to add to your real estate holdings without spending the full amount of money you’d need to buy them on your own. Leveraged investing will build equity and economies of scale. You could sell the property, get your down payment back as well as the amount you've earned in equity. You might refinance the property at the lower principal amount, reducing monthly payments and increasing cash flow. :) 

Best wishes on your endeavor!

Wonderful day Giezy! Go with FHA since rates are some of the lowest there are. And compared to conventional rates, borrowers with a credit score of less than 680 will almost always see lower FHA rates. When comparing, consider principal, interest, and mortgage insurance. And keep in mind that FHA's mortgage insurance premium remains for the life of the loan. Whereas with a conventional loan, you can ask the lender to remove the PMI once you have 20% equity. Feel free to reach out to Republic Invest and discuss!