All Forum Posts by: Philip Williams

Hey brett great plan to start out with! However I would take it a step further and make a long term real estate investing plan as well! Perhaps continue to put your 600 a month into a savings account as if you were still paying rent. You are required to be an owner occupant for 1 year. At the end of that year purchase another duplex with an fha loan, which only requires 3.5% down and you now have three renters. I don't think i have to continue you can see where this is going :) Yes obvioulsy you aren't going to want to live in a duplex forever but for a few years it's a great way to start a rental portfolio!

Well that's a rough one lol! I suppose the advise I would offer would be to accumalate as much knowledge as you can. That way you do bring something to the table to a pontential partner.

Trust me finding money is much easier than finding great deals! You should at least consider wholesaling with your knowledge and connections as a realtor.

That's ridiculous man! You can't fight those huge corporations with there lawyers!

Hey i'm not a teacher but my partner in one business is. She is a seventh grade science teacher, we have definitely had success and while there are challenges with her schedule we still make it work. I would advise finding a partner perhaps like me with more free time that can operate more of the day to day perhaps someone who already has an established business?

Well you are definitely ahead of the average new investor! You have access to the mls and hopefully have worked and found properties for investors in the past. Good luck and welcome to the community.

Well first it's perhaps a very dangerous Idea to put all your eggs in one basket. If you want to try your plan then by all means set it in action! I would advise continuing working at the same time though, perhaps for a couple of years until your llc can use the rental income and you can refinance and draw some equity out to keep investing. At the very least try and diversify and not sink everything you have into one property! Thats just my opinion.....

Well although I fall into the age category I don't think i'm exactly representative of a typical generation Y. The reason I can't stand banks has nothing to do with technology it has everything to do with the opportunities afforded to us. I remember the days of banks actually lending to new small businesses. To people who couldn't afford mortages being able to obtain one. Now I spend half of my days as a 29 year old investor with no debt attempting to convince banks to believe in me. The fast I have good credit no debt and substantial assets isn't enough for them......that is why this particular generation Y can't stand banks.

There are going to be very few if any sellers willing to finance with you putting zero down. After all if things don't go your way what is stopping you from pulling out of the deal?

A lot of it is just expanding your network, letting people family and friends know what it is you do. You would be surprised how many people have extra cash and would like to invest in real estate and simply don't know how to get started. I have casually mentioned to friends that if they know anyone who is looking to invest to let me know. My friends are never the investor but friends or family of them have. Hope a couple of those ideas helped.