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All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 15 times.

Post: Not Trying to Blow All Savings on Down Payment

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

I am wondering what are the best programs for down payments loans, grants, etc.

I have the money for down payment on my first home, but am wondering if there is a way to keep the cash and manage cashflow so I can save up for my second property. 

Is there a program that I only repair when I sell the property? I heard someone talking about...hmm

Post: Luck with Leasing 1 Bedroom Property in Minnetonka?

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

I live in the SLP/Minnetonka area and I think it would easily rent if it's a nice place. 

Post: Is there any downside to having your real estate license?

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

Just curious what you guys think.. If you're an agent and an investor-is there a downside? I think it would make sense to make commission on a property you're going to buy anyway. 

Post: i need of a mentor..

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

I am right there with you. 

Post: What are your goals for 2021?

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

Make my first offer... I think big lol

I have some credit issues I've been working on, but learning REI the whole time because I want to be ready.

Post: Bought my 1st Rental Property!

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2
Originally posted by @Matt Polinchak:

@Account Closed I did not (nor am I allowed) to use my commission for down payment. I did usually the commission check to help offset costs of rehab.

Okay, so it's not allowed? Is there anytime it is allowed?

Post: Bought my 1st Rental Property!

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

@Matt Polinchak were you able to use your commission as a down payment?

Post: Is a real estate license necessary ?

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

@David M. Oooooo so agents can’t use their commission when they buy their own house? I’m just getting started in this world, so forgive my ignorance.

Post: Is a real estate license necessary ?

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

@Kandice Manciel you and I think alike. I am on the same timeline...

I think in leverage- what’s the one thing that could make multiple things easier, better and unnecessary.

I think learning the ins and outs of the process, not needing to rely on an agent and using commission as down payments.. plus work to learn and can accidentally sell 3-4 homes a year adding 20k in income 🤷🏻‍♂️

Post: Can I do this part time?

Account ClosedPosted
  • New to Real Estate
  • Minneapolis, MN
  • Posts 15
  • Votes 2

@Kobe Xin thank you