All Forum Posts by: Mikhail Fedorov
Mikhail Fedorov has started 1 posts and replied 5 times.
Post: How can I work on my own deals if I am 18?
- Rental Property Investor
- Seattle, WA
- Posts 5
- Votes 2
@Alina Trigub
Thank you for your advice! I will continue learning and moving forward, do you have any sources that you highly recommend?
Post: How can I work on my own deals if I am 18?
- Rental Property Investor
- Seattle, WA
- Posts 5
- Votes 2
@Benjamin Hurwitz
There is no payments, points, or fees for the term of the loan. There is about 10 points added to the back of the loan when it is due. No prepayment fees as the only interest, points, and fees are added to the back of the loan upon paying it back, so the faster it is paid in full, the greater the interest over time. It really is 100% financing but as the financed amount gets larger, closer to a million, the terms and financing options change, and a down payment is required. I plan to find multi-family property owners who are okay with holding paper.
Post: How can I work on my own deals if I am 18?
- Rental Property Investor
- Seattle, WA
- Posts 5
- Votes 2
@Bjorn Ahlblad Thank you for the advice, it is very much appreciated and you’ve given me confidence to ask at the very least!
Post: How can I work on my own deals if I am 18?
- Rental Property Investor
- Seattle, WA
- Posts 5
- Votes 2
@Bjorn Ahlblad
Thank you for your response! We have 100% financing from a hard money lender that we are working with. No interest, 0 payments for up to one year. It seems their only concern is the value of the deal. We are also developing a relationship with them, we meet in person and they give us advice into the deals we work on. Do you think it would be possible for me to be financed by them with the value of the deal being their only concern? I feel I am able to articulate this value if it comes to it.
Post: How can I work on my own deals if I am 18?
- Rental Property Investor
- Seattle, WA
- Posts 5
- Votes 2
Hey everyone. This is my first post on BP. I am 18 years old and am working with my father on a rehab with 3 wholesales under contract. I am very interested in commercial and multi-family investing and I feel I am ready to move forward alone if need be. How would I go about being taken seriously when it comes to financing and presenting myself to property owners looking to sell? I believe I am ready for investing on my own but I understand that my age can stand in the way. Any advice is very much appreciated as I can barely breath knowing that as things stand, I most likely have to wait years before I can work alone and move forward in commercial real estate.