All Forum Posts by: Account Closed

My end goal is to gain the knowledge to do/manage a rehab of my own.

Does anyone have any advice how a person who has no prior experience in construction/rehabbing properties can learn the tricks of the trade? I currently work a full time job in another field, but was considering getting a part time job at a flooring company, or a painting company etc. Do you think this would be beneficial? Thanks.

So I have a hypothetical situation. Say I have minimal capital and would like to deploy the BRRRR strategy. Is it possible I could buy a distressed property using the 203(K) program, build some equity in the property by fixing it up and do a cash out refinance in a couple of months to get that built up equity out as cash? Can someone poke some holes in this? Would this be a viable strategy?

So I'm having a problem getting started. I'm new to real estate investing, however I feel like my scope is a little too broad. Do you have any tips on how I can prevent this analysis paralysis, pick a strategy and execute? Thank you.

Can anyone recommend any quality real estate license programs in the Las Vegas area?

Thank you. 

One more additional question. 

4.) What strategies do you deploy to vet honest, skilled contractors? 

Good morning everyone, I hope you're having a wonderful week.

A little background on myself: I'm new to real estate investing, I'm a 25 year old from Colorado. I currently have a rental property in (Denver) however a career change has led me to Las Vegas. I'm interested in learning the In's and out's of house flipping. 

That being said I have a couple of questions I'd like to ask.

1.) Would a real estate license benefit me in this endeavor? I understand the financial/time burdens of obtaining a license, but I feel as if reliance on a real estate agent to submit an offer and show me potential properties will really hinder my efforts.

2.) I have no contracting background. My ability to estimate rehab costs at this point is non-existent. Do you have any recommendations for how I could overcome this deficit? 

3.) How did you meet your mentor? (if you have one) How did you provide value to this relationship when you had limited experience and resources?

Thank you for your time. -Maciej

I have a quick question for you guys. Which sources/analytics do you use to determine whether a market is a viable location to buy an investment property? I've heard mentions of using demographics, job growth, average household size etc to gauge the market. Does anyone know any good sources or books that could educate me on this topic? Thank you.

Good morning everyone, I'm new to the forum and I have a few questions I'd like to ask.

I recently applied for a HELOC Line of credit in an attempt to tap some equity on my condo in Denver.I was denied due to the fact that I didn't reside in the residence (I moved to Las Vegas 6 months ago) That being said, I plan to try again with a different bank. Is there anything I can do to improve my chances of being approved? I read that banks are unlikely to give out HELOCs on

condos, can anyone confirm from their own experiences?

Second question: I payed 20 percent down on said property. Would I still be considered a first time home buyer if I decided to purchase a property here in Vegas?

Any clarification would be appreciated. Thank you for your time.