All Forum Posts by: Antoine Martel

If the tenant is already in place you then you are not due first months rent for the property. Unless you can work something out with the current PM company and have them pay you some sort of fee.

Michala.

Leaving these owners with something about your business is important but I think it might be better to grab these owners phone numbers and keep a personal relationship with them. I'd call them every 3-6 months and continue asking them if they are looking to sell. 

Chudi.

The market right now is very hot and many markets have very little inventory. Have you thought about finding off-market properties? Then you would be able to create your own inventory and you can even sell that inventory to investors in your area who need it just like yourself. 

Kevin.

Love your drive and your age. I'm 22 years old and started when I was 20 years old as well, so you are in at a good time. I think that you should focus on one part of the real estate business. Offering many services at the same time can be confusing. Maybe begin with 1 service. For example start offering wholesale properties in your location. Then once you have built up that business for a couple years expand to PM etc.

That is what I would recommend. 

Closing costs from the mortgage is that expensive? Closing costs for a mortgage should be <$3,000. 16% is way too high. Find another lender. Are you using a HML?

When I lend I like to do 12% interest of a JV agreement.

ARV, Rehab Estimate, Purchase Price and all other costs.

I do not care about borrowers income.

Show how many deals they have done. Give returns over 12%.

Can they get a mortgage on the end is something I would ask. Do they have the finances to do so? Then provide all numbers on the deal.

Sezuo. 

Are you looking to invest in Chicago? Or looking to invest out of state? Is there a reason why MFR instead of SFH rentals?

Awesome good luck.

Great. 

That would be great but there are not many opps like this out there. I think its best if you invest time learning online as much as you can. Go to meet ups in your local area, then when you are comfortable, buy a rental property or lend money to someone on a deal. Analyze as much as you can and meet people in the business. Since you don't have much time because you are working  you can learn and then invest your saved up money and try to grow it as best you can.