All Forum Posts by: Joshua Benjamins

Who did you use for Hard Money and what terms did you get?

“The average millionaire has 7 sources of income”

So your whole beginning should be with the mindset to produce sources of income. 

Example… rental income

I would start with a home purchase as a primary residence first. This gives you the best option for acquisition costs. You can buy 0% down payment if you use a VA Loan, as low as 3.5% down payment with FHA Loan. You may get the sellers to cover all or some of the closing costs. Your interest rate will be lower as a primary residence than if you were to buy it as an investment property.
While you are living in the house you get to see all the maintenance items that come with home ownership, good to know for future investment properties. You can start to rent out a space (room(s), loft, garage, backyard)  in your primary residence.  This will get you knowledgeable on listing your space, screening tenants, background/credit check process, lease agreements, collecting rents, renewing lease agreements, evictions. It will be much easier to do and learn while it’s right next to you and not across town or in another state. 
Once you feel you have all the basic fundamentals squared away above, it can be time for you to start looking for another primary residence to move into. Keeping the original home as a full rental property to rent out in many different ways (AirB&B, month to month, furnished finder’s, yearly , house hack). 
Hope this sheds some light as a much easier entry point and education system of being a multi rental property owner. 
Crawl, walk, run, fly!!!

@Michael Yenny

If you are an eligible Coinbase customer, you can borrow up to 30% of your Bitcoin (BTC) balance on Coinbase, up to USD $100,000. The minimum amount is $2,000.

If the USD value of your BTC increases, you may apply for more than one loan, as long as the total of all loans is under 30% of your BTC, with the maximum at $100,000.

#HomePortCapital

@Mitchell Barna as a lender myself I got reached out by a David Oak at Good Fund Lending. Just didn’t seem right how he was screening me and asking me to purchase a financial guarantee surety bond certificate. He also had 500+ contacts showing on his Linked In profile. Thanks for keeping us all more aware of different situations.

@Dan V. Amazing to hear your success story in the 757 area. DM me with your next deal and we can work together.

@Natalie Schanne I agree with Kurt. Lend your money out via Hard Money/Private Money. If you don't want to find borrowers yourself you can reach out to a Hard Money lender and they can broker your money for you. ROI on your money is usually about 12% APY, term is never longer than 6 months.

So example you lend out $150K:

In 6 months you receive your principal + $9,000

Basically $1,500 a month

Your name is on the 1st Lien

When the house sells you get a check from the closing agent

This strategy is great since well done flips are selling really fast. It’s all backed by hard assets, unlike stocks. It’s super short term so you can be ready for a correction in the RE market.

PM me if you would like to know more.

HomePort Capital

Virginia Beach

@Nathan Smith why just choose one way when you can have it ALL!!

Join the Navy:

travel the world

move around the states

get college classes paid for

meet tons of like minded real estate investors

make plenty of money

learn a great job skill

buy a house via VA loan or buy a four Plex via VA loan at your duty station and

best of all serving your amazing country.

Read my bio and the proof is in the pudding.

#HomePortCapital

@Andrew Fisher

Hard Money Lenders are alive and well and doing amazing. We see commercial credit lines closing and banks to scared to lend on ugly homes. Get creative and get your hands dirty. You can only learn so much until you jump in the water and start swimming with the big fish.

When you multiply the ARV times .65 you will get a "number".

If you can get that house under contract and a rehab budget costs, under that “number”, send me a PM. I can set you up with the rest of the information you will need to be very successful.

#HomeportCapital

@Bonnie Rhodes

My Investment type and History:

4th grade-my friends mom came to our school and taught us about compound interest. Started my first savings account immediately.

12 years old opened my first Money Market Account

19 years old opened my first brokerage account and invested in Mutual Funds

21 years old opened up an E*Trade account and bought an individual stock

22 years old bought first Single Family Home (SFH)

24 years old opened a ROTH IRA account

25 years old turned 1st SFH into rental property

33 years old started a Thrift Savings account

41 years old bought crypto currency

42 years old bought and sold first flip property

42 years old opened a Self Directed IRA

43 years old investing in Hard Money Lending

43 years old started a Solo 401K

***All the years I always invested in learning from anyone and everyone that was an expert in all of the above. Invest in the learning process!!!

#HomePortCapital

@Robert Myjak just like any part of real estate. Get references (3) and follow up on those references. Most Hard Money lenders leave a trail behind each and every transaction. It’s not hard to find some that leave behind happy and returning customers. Let me know if you need some good references in the San Diego or Virginia Beach area.

HomePortCapital