All Forum Posts by: Maximillian Engram

Good afternoon, 

any insight would be helpful

During the pre approval process for getting a home loan is it a hard pull or soft pull on your credit? 

Thank you 

this question came to my mind randomly, should you have an LLC if you are house hacking on that property?

This question came to my mind randomly, should you have an LLC if you are house hacking on that property?

Quote from @Jason Taken:

Quote from @Maximillian Engram:

Quote from @Jason Taken:

Quote from @Maximillian Engram:

what were some mistakes you made when completing the BRRRR method you wish you knew ?

I shoot video content on this all of the time. One of the biggest issues as of late has been the failure to pack in enough margin for the market decline (we all knew it was coming) and having the backend numbers be less than favorable. Some borrowers are coming to closing with cash on a refinance. 

thanks for the information..where can I view your content? 

 On YouTube. Any particular questions you've got?

How were you able to estimate rehab cost properly? I'm really trying to get this down packed so I can get an accurate all-in price when finding undervalued properties for the BRRR Method.

Quote from @Eliott Elias:

Lenders changing the LTV from 75% to 65%. Make sure your numbers work with 65% all in

Wow! I didnt know lenders went below 70% LTV Thanks for the info

Quote from @Jason Taken:

Quote from @Maximillian Engram:

what were some mistakes you made when completing the BRRRR method you wish you knew ?

I shoot video content on this all of the time. One of the biggest issues as of late has been the failure to pack in enough margin for the market decline (we all knew it was coming) and having the backend numbers be less than favorable. Some borrowers are coming to closing with cash on a refinance. 

thanks for the information..where can I view your content? 

What kind of COC returns are you accepting when analyzing a property during these market conditions? 10%? 12%? 8%?

what were some mistakes you made when completing the BRRRR method you wish you knew ?

Quote from @Jon Puente:

Hey Maximillian, 

Full Disclosure - I am not a realtor myself, I am mortgage broker.  However, I work with a lot of realtors that are also investors themselves.  I am here to tell you that there really is not a downside to being an agent, as well as an investor. 

You can find properties yourself as an agent, and be ahead of the game before other investors.  You can do your own paperwork and partner will other agents on deals (if you wanted to).  You will not have to pay commissions to anyone should you decide to sell homes you already own.  It can be a perfect combo if you are not being an agent "full time."

I can not think of any downsides, other than you have to invest money for the license and pass the test.  It is certainly not a requirement to be an investor, which you already pointed out.  Do it if you want to!

Thank you for the information. I am really considering it to kind of catapult me into the investing side to gain more knowledge while working at a brokerage. Things like learning my local market,becoming familiar with different zip codes, not having to pay commission fees, building more relationships among other various things. 

Good afternoon,

What are the pros and cons of being an individual that invest in real estate properties and also a licensed realtor?

I know I don't have to be a realtor to invest in real estate but I just wanted to get some insight from other people in that space. I'm considering getting my realtor license so this question came to mind. Thank you for any insight.