All Forum Posts by: Nicholas L.

@John Jasko

no offense meant, but I don't think private lending is a good option for someone looking to get started.

if you don't have the time to manage a property, just hire a quality property manager.

with that said, apologies in advance if you are not a beginner and have RE experience.

@Andrew Curro just curious - why the 2 year timeframe?  Is there a life milestone coming up - a move, etc.?

@Logan French happy to dialogue on this!  Just sent you a PM.

@Logan French

Do you have specific questions? I am not a dentist, and I do not invest in Boston, but I just completed a BRRRR, and I started investing while I was in a stressful, busy W2.

@Ian Baldau why do you need to partner this early in your career?  You should each just house hack separately and see how it goes.

@Adam Berlinberg I think this is going to come down to your goals, and how much time you have available.  Do you want to own properties yourselves, or do you want to just be in funds that expose you to RE and pay you a return?

If you have time, and want to own properties, I'd encourage you to attend REIAs, build a Core 4, and find a market or submarket in CO to invest in within a couple hours (doesn't have to be Denver city!)  If you don't have the time to do that, or that doesn't interest you and feels "heavy," as Brandon says, you can consider funds or REITs.

Finally, can you buy "turnkey" properties out of state in Ohio and Indiana?  Sure.  I just don't think that's as easy as it's made out to be.  There are lots of threads on BP by people who did that and were successful, and there are lots by people who were disappointed and didn't make nearly as much as they were supposed to on paper.  And is that what you want?

There is some terrible advice in this thread.  A brand new investor with $100K has no business "being a private lender" or getting into a syndication. 

Start out with one property.  Maybe you won't even like RE investing.

@Beth Johnson I think we're talking about two different groups of folks - you might be referring to HNWIs who are established in their careers and looking to enter into exposure to RE as an asset class.  I'm fine with them putting some capital at risk.  =-)

True beginners with minimal to no funds have no business doing anything but ( 1 ) saving up money and ( 2 ) house hacking.

That's all I'm saying - otherwise good post and good discussion.

@Ryan Friend

OK - 

For 1, start with Zillow to practice, and to get comps (sold or rents), ask a realtor.

For 2... that's tougher.  Read J. Scott's book.

@Ryan Friend

well, it's similar to how anyone anywhere analyzes a property, but if you know a market well, you know what to look for.  for example...

-in my market, utilities in small multis often aren't split and have to be paid by the landlord.

-snow removal and groundskeeping need to be covered in the lease and/or otherwise accounted for.

then, once i've truly added up all expenses, i would want to see that the rent (based on actual comps) covers them, with allotment for debt service and margin.

make sense?

have more questions?