All Forum Posts by: Moises R Cosme

Check out Southern CT; there's money to be made in that area. 

Wade, 

Pick a vertical & go nuts!!!  We work foreclosure & probate, we are fanatics about it... Emails, calls, text messages, mail etc.  Aggressively work every lead and you will get results.  There is no 'one' avenue that works, it is all about what you do & how you dig for gold!!! 

Find and purchase 4 distressed 10 unit properties locally; a 10 unit in my market would sell for $500k at full market value, I would want to buy it at 50%, invest 20% in a full rehab of the main components (electrical, plumbing, heating, roof) and lease it out.   I would use the $1M for the purchases & get hard money for the rehab portion for the tax offset.  Once the units were fully leased I would get the $1M back and go back and repeat the process.  

Jignesh, you should not; wait for the right tenant, taking on bad risks seldom ends well.  

Ugh, my heart goes out to you guys; California is a completely different world.  

Melissa, 

Welcome!! I recommend working backwards, build out a simple system to handle deals BEFORE you start generating them. Pull together: (1) a spreadsheet to evaluate deals, (2) a spreadsheet to track your projects, (3) connect with a local Agent so that you can get access to MLS, (4) line up financing and (5) create a daily routine for this part of your life.

Systems are key.  Finding & doing deals is a product of your systems; if you don't have a system everything will seem really hard.  

I have used a second position HELOC; we have used the line for past investments, but we paid it down & use it as back up in the event we run across multiple deals at one time and need additional liquidity.

Hard money should work. 

The husband should go through probate; takes 45 to 60 days, but an assignment and subsequent license to sell from the probate court solves your problem. 

This is awesome!!! Congrats!!!