All Forum Posts by: Nicole Graves

@Lizina Green Thanks! Very helpful!

@Lizina Green Congrats on your flips!  I have been researching different portfolio lenders in the area recently.  How have you found working with the portfolio lender as opposed to the hard money lenders?   Do you get funding in your name or your company's name?  Do portfolio lenders approve you for one lump sum at the beginning that you can use on several different homes (over time or at once) or do they approve you for one home at a time? (ex: a)approve for $100K and you can use that all for one home or in increments on different homes over time or b) $75K for the first transaction and then you reapply for your next transaction? Thanks and wish you well on future deals.

@Leo Gomez

Congrats in getting involved in real estate investing.  I am not an investor in NYC, however had a few basic pointers that hopefully will be helpful. I am not a lawyer and this is not legal advice.

1. Don't underestimate the necessity of doing business under an LLC. You may consider looking into starting one in your state (or whatever state you plan to conduct business in).  You can have a trusted and experienced real estate lawyer set one up for you or some have them started through companies like Legal Zoom or you can go directly through your state.  If you choose to use a company like Legal Zoom or go through the state, you may also consider having the real estate lawyer review it to ensure that it is structured properly so that you are protected in case of a suit.

2. For your contracts, you may already these in order, but if not BP offers forms and contracts under the Tools  tab.  With whatever contract you use, consider having a lawyer from the state you plan to do business in review it to ensure that all language is in compliance with your state and worded properly...ultimately protecting you.

3. The BP podcasts are very helpful and include the experiences of so many investors who share their experiences and challenges.  I have found these to be very helpful and have taken away great pointers of things to avoid- legal and just basic business practices. Here's a link to some of BP members' favorite episodes. 

Hope this is helpful. Wish you well in your investing.

@Matt Vaughn Congrats on getting started in real estate investing. I'm not involved in commerical real estate, so I don't have a lot to add to this comment, except to ask what made you want to invest in SFH properties over commercial properties? It sounds like with your background you already have some experience the commerical 'side of things' which could be helpful wihen looking to invest in commercial properties. Just a thought. With whatever you decide, wish you well.

    @LaKaye Mbah I understand what you're saying!  I listen to my audiobooks mostly at home while I'm doing other things (chores,etc).  And yes, there are always great  points that I want to stop and write down, so I'll 'break' from folding clothes to jot them down in a notebook.  But if I listen to an audiobook in the car, I'll just make a mental note of what chapter I heard something and later on while not driving I'll revisit that chapter and make an actual note of it somewhere.

    Fun listening!

@Tanya McIver Welcome to BP!  The BP community is (as you can already tell I'm sure) filled with investors who are willing to share their knowledge and experience.  It also promotes your growth by offering you opportunities to share your thoughts and ideas with others  as you learn. 

On way that I have enjoyed learning on BP is through the podcasts.  Here is a link to some of BP members' favorite episodes.  Hope you may find it helpful.

As mentioned above, an LLC could be a great way to start so that you are protected while doing business. If you decide to, you can have an experienced real estate attorney set it up for you or 'check' it (if you use an online source or go through your state) to ensure that it is structured properly. * This is not legal advice and I am not a lawyer.*

Wishing you well!

@Fernando Galvan Welcome to BP!  Congrats on taking the first steps towards investing.  I also am new in real estate investing and trying to learn as much as I can.  I have found the podcasts very helpful as others have mentioned.  Here is a link to some of BP members' favorite episodes!

 Also, the weekly webinars have been great @Brandon Turner and am challenged by the 'action steps' to take during the week that Brandon 'assigns' during the webinars.  It helps from becoming too comfortable in the learning phase!

Wish you well.

@LaKaye Mbah Congrats on getting started!  BP has been a wonderful community to learn more about real estate.  Everyone is very helpful, willing to share their experiences, and offer their knowledge.  I would definitely say to continue connecting and networking through the forums.

 I see you mentioned that you enjoy podcasts- I'm sure you've heard BPs podcast episodes.  I enjoy listening to the podcasts as well as I can multitask while learning.  Here's a link to some BP members' favorite podcase episodes.

Wishing you well!

@Anthony Arana  You may consider owner financing on buying a first property?  The owners may be willing to work with the amount of the downpayment.  Wish you well.

The first home I purchased was purchased through an agency that represented the seller and myself. I remember wondering "who was getting the better deal?"  But it actually ended up working out well as the agent I worked with was very objective and straightforward.  I could definitely see how it could be a tight rope to walk though, especially if either party (seller/buyer) has conducted multiple transactions with the agency before.