All Forum Posts by: Account Closed

VASP opens up March 1st 2024, days away. I warned creative people not to touch VA loans. You might be in a bind now that the VA may make them whole.

 

@Mike Hern

I'm just starting out would love to know more about the no money down model as that is what I would like to be doing too. thanks David

To be honest, the MBA does not prepare you for that area of business in my opinion. However, books and podcasts have taught me exactly what you said. You can either pay or find one for free (which really means at the moment one does not have the capital to bring much to the table, but they have the hunger to get things done at a high-level showcasing commitment to the mentor). The second is where I find myself as someone who has always been an achiever I am not satisfied with the status quo. The world of real estate is vast though and the approach that I want to take (lending, commercial, multi-family, single family, etc.) is where I am unsure where to start.

Aloha! Originally from Hawaii, I am a college graduate with my MBA with a focus in Finance from Liberty University. I played 5 years of collegiate tennis as well as 18 years from the time I first picked up a racquet.

I am looking for a mentor and also opportunities to grow in the real estate realm as I chase financial freedom with the goal to start building homes for those who need them once my portfolio allows me to! I currently work as a Project Controller managing budgets for the company I am employed by but excited to use my savings to pursue real estate in whatever capacity I can.

My business partner and I have been searching for our first deal using an agent and searching the MLS ourselves. We have had some luck finding leads and analyzed quite a few from afar, but want to maximize our efforts. Most of the houses we are finding on the MLS are priced too high for the numbers to work on a fix/flip. Are most investors using wholesalers to find off-market deals? We have done some searching ourselves and started sending out letters to generate leads, but we're curious if using a wholesaler would be a better option. We understand we are going to have to analyze quite a few properties before we land on one that will work, so we want to get our eyes on as many deals as possible.

So I saw the data below and am wondering, are americans fighting inflation with debt? Have incomes kept up with inflation? What will happen when the credit card companies and banks tighten their lending standards?

Do you think the the economy is on the upswing or downswing? Personally not an economist but like to think I have good instincts and will say downswing. Share your thoughts...

According to Kobeissi:

1. Record $17.5 trillion in household debt

2. Record $12.3 trillion in mortgages

3. Record $1.6 trillion in auto loans

4. Near Record $1.6 trillion in student loans

5. Record $1.1 trillion in credit card debt

the total mortgage debt is more than double the 2006 peak and total credit card debt is up 50% since 2020.

Also delinquency rates on credit cards and auto loans just hit their highest since 2008.

We are new to real-estate investing in the Tulsa area (have a couple properties in CA, MI)

Why Tulsa? Conservative appreciation, reasonable cash-flow and long-term outlook for the city looks good. 

One of the most often asked questions is how to get started in flipping. Here is how I determine if I’m going to keep a flip as a “Buy & Hold” or Sell it to an end buyer. Since it’s actually a little complicated, I’ll do it in steps. There are many variables but here is one sample.

You make your money when you buy.