All Forum Posts by: Kirk Zandier

@Brett McManus

That is some solid advice! I have been looking for a decent duplex, but the multi-family market so tight! I seem to come across a decent property and they are only doing cash only, sight unseen.

I need to get over my victim mindset though. Initially, the strategy you suggest is the one I thought most feasible, I just got frustrated with the search for the right property.

Nonetheless, I needed to hear your comment. It just simply makes the most sense. It will keep me from getting burned, while still getting my feet wet.

Have you started looking for your next deal?

@Jon Kelly Thanks for sharing, Jon!

That is awesome you were able to find a 4-unit property for that price! Have you done any single-family homes or only multi-family?

@Jessica King I haven’t. I’ll check it out, thanks!

@Esther Min Like a lot of people, I was introduced to the concept of passive income through the book, Rich Dad, Poor Dad. Ever since reading that I have been on the search for ways to achieve passive income. Real Estate is often talked about in tandem with this concept so as a result I started researching!

@Jon Kelly Hi Jon! Yes, just like most things new, I can imagine it is uncomfortable at first but after a few deals, it just becomes another step in the process.

How did your first deal go?

@Joe Aiola Hey Joe! Appreciate your comment. I'm thinking about maybe doing a quasi BRRRR with a rehab loan ( FHA 203k or Fannie Mae Homestyle renovation). I think this will give me more security, and will be a more slow-paced learning process. Also, totally agree that learning the construction side of things is crucial for success.

@Brian Gerlach Got it. Thanks for your advice!

@Twana Rasoul thanks for your response!

I'm afraid even with an FHA a 2-4 unit building would eat up my capital quickly. Thinking about just doing a single family house hack as the multi-family market is just too tight in my area.

@Brian Gerlach I agree that a live in flip would be a nice stepping stone for me right now. I also could potentially rent out doors to others once in decent condition.

You are absolutely right about finding a mentor and building a network, I need to do a better job of that. It seems tough finding a mentor. What would you look for in a mentee, as far as someone that adds value?

Hi Everyone!

I appreciate and look forward to everyone's feedback.

I am looking to get into real estate investing in Pittsburgh, PA. I don't want to invest more than 15-20k. With my capital being limited, I have taken interest in the BRRRR strategy. However, using a hard money lender with hopes that the ARV, appraisal and lender will cooperate with my plan makes me nervous - I guess that is just the cost of doing business..

I have also considered trying to flip first to build more capital. Again, I am more than likely going to have to use a hard money lender. Should I be this wary about using a hard money lender or am I overreacting? 

I have picked these strategies as I believe they will help will scalability. The last thing I want to do is buy 1 or 2 properties and be stuck building up another nest egg to purchase my next. 

With that, my question is: If you were a 23 y/o looking to get into investing, but didn't want to corner yourself, by means of limited capital, what approach would you take? 

Thanks!,

Kirk