All Forum Posts by: Matthew Roberts

I'll be there. I think I saw this property a little while ago. 

@Michael S. Perfect, exactly what I was looking for! Thank you. 

@Lee Ripma that's what I'm thinking. Thanks for the feedback!

@Ann Bellamy Those are good points. Thank you!

Is there a resource here on BP or a popular book that goes over elementary concepts of Real Estate Investing? There are terms, concepts, and language I have never heard before. It would be amazing to read something even like a REI dictionary. Right now I'm googling everything I find, but I'd love to read a comprehensive resource about categories and sub-categories and sub-sub-categories.

I'm brand new to REI. Would someone's first splash in REI as a private money lender be a bad idea? If I could find someone who could use my cash better than I could, what would be a pitfall of pushing this strategy? If I could get 8-12% per month in this market (San Diego) and save I would think its a safer play. Anyone have thoughts or opinions on this?

@Kirky Galt That makes sense, thanks!

@Betty Cruz That's new to me as well. Thanks for the feedback!

@Christopher Phillips Thanks for the response! So I guess it just comes down to the bank not allowing a regular financing option on a discounted house? I guess that's my confusion, if you're pre-approved for a loan and a house is available why wouldn't you be able to buy it? 

@Jose Guevarra You are correct. Fundwise is not a funder, they are a "finder". They charge $500 for service and 9% of the loan value they get you. Not worth it. 

I'm looking to begin investing in the San Diego. For BRRRR investing, why can't you take out a normal loan on a home and then fix it up and then refinance it? If I'm trying to buy a SFR here in San Diego, I'm going to need at least $400k in cash from myself or a private lender. That seems unlikely so couldn't I take out a loan with a 5% downpayment of $20k and then use say another $50k to fix it up. If the ARV is say $500k could I then refinance and get all my money back? Pretty new to this so I'm trying to figure out why you'd use cash.

@Dan H. Thanks for the detailed response! A lot of helpful info in here.