All Forum Posts by: Michael Moikeha

part of getting into the MF is to build a passive income. If you manage the place yourself, it is no longer a passive income. Decide whether the money you will be saving will be worth the headache and time that you will be investing.

Build a solid team, and let them do the work for you!

I would call around to local banks and credit unions, and see if any of them are willing to offer more relaxed standards than others. You may be able to find a CU that is still willing to take a deal with a smaller downpayment.

short-term goal, wholesaling. Long-term goal, MF rentals. As you build your team and network with the main goal being MF deals, you can do everything with eyes open for potential wholesale deals.

You may have a better chance at closing a deal, if you can partner with someone who can loan you some cash to cover 20-30% of the ARV. Then get the rest through a hard lender.

Google local brokers and property managers, and begin asking questions.

You need someone with boots on the ground in the area, and if you can not be that person, then you need to find someone else who can be.

Welcome to BP! This is a great place to build upon your knowledge.

Good luck with your goals in RE investing.

RE Investor

Many outside of the field would see the term entrepreneur as being someone who is working their way to success, where an investor has a sense of being established.

As the questions arise, post them here, and you will get real time feedback.

I would also suggest joining one of those REI groups in your area, networking, and finding a mentor there through esstablishing a relationship and showing them your dedication to the industry through enthusiasm.

Welcome to BP nation!

Im sure the information you can find here will help you reach your future goals!

Welcome to BP! Listen to all the podcasts, read as many blog posts as you can, and continue to attend the local REIA meetings.

Get yourself some professional looking business cards, ask individuals at these meetings if they would be willing to do an informational interview, as you are extremely motivated, can tell they are the one in the room worth talking to, and that you are hoping to avoid having to learn all the hard lessons yourself that come with the industry.

Good luck!