All Forum Posts by: Brant Richardson

I have the same problem. Looking forward to the answer.

That sounds like an excellent game plan. Getting into real estate at an age when you don't mind, or even prefer, having roommates really opens up possibilities.

You could use a HFA loan (as little as 3.5% down) or Homepath loan. That would be one of the great things about your idea to move out of the original property and occupy the new residence too. With a loan like that you probably wouldn't even need to refinance the first property. Some people move once per year so they can keep taking advantage of this as they build their portfolio.

You may not want to submit your own offers for your very first deal. The seller will be the one who pays your realtor anyway. Yeah it would be nice to be paid to buy the property but that's a lot to bite off for your first one.

You should do some research on how to build your credit score and do everything you can as far as that is concerned over these next two years.

I foresee success in your future.

Paper work is done, offer will be in tomorrow morning.

Hi Alexandra,

That's an even bigger rip off than the usual Guru story, sorry to hear it. If you paid by credit card perhaps you could get the charges reversed. Put in a complaint with the better business bureau. By all means slam her name on forums and warn others about her. Who was it? I'd put it right in the title so if others are searching the internet for information on her before committing to the $800 they might find this post... I just reread your post - LAURIE ALEXANDER.

Other than that experience, how is the Santa Barbara REIA? I have been wanting to check it out but I work into the evening on Saturdays. Is there a lot of sales pitch at them?

The podcasts are a great way to find new investing strategies (secrets). If you like a strategy you can buy a couple books on it and ask questions here.

You have to find the right connection. I have a great guy in Kansas City. He is a realtor but used to be a property assessor and has overseen a lot of rehab projects so he understands the cost of rehab. He goes to properties, takes 20-30 pictures of everything that needs rehab and gives me a rough estimate on repair cost. If I buy it then he gets 3 contractors to bid on the job and we pick one. He then oversees the contractor and disperses money at the beginning, middle and finish. He earns the regular sellers fee when the house is bought and charges 5% of rehab costs to oversee the job. This set up is working well.

@Travis McCamish ok got it, Tempe AZ. I was thinking you were going to have a tough time breaking into real estate investing in Dana Point. If you buy a duplex and live in one side you could qualify for a low down payment loan like FHA or Homepath.

It's very common for investing. I usually think of it more for short term financing like a flip or to buy an undervalued property with the plan to refinance later. I have personally never use one. I'm sure someone else will chime in.

The farther inland you look the more likely it is that you will find cash flow. Think about the route that the 5 takes rather than the 101 and 405.

Hi Travis, you found a great place to learn. The Podcasts are excellent, check them out. Don't be afraid to ask questions, you'll be surprised by the level of the professionals who respond.

What is your plan for your first deal?