All Forum Posts by: Josh Caldwell

The first question that you need to ask is what will it cost you to bring utilities to the site. The big expense is usually water and sewer.  Also consult a lawyer and find a cost to split the lots. 

I cant imagine a bank agreeing to that. What I can imagine is paying off your student loans by pulling equity out of a property via refinancing.  That would work, and if you have had a cash flowing duplex for 3 years, you might have the equity that you need to make this happen. 

Your first STEP is to get a house under contract to buy.  This is simple, ask them what they want, negotiate the best price and TERMS you can get.  Then put that house on the market. There is no need to be deceptive here. I tell sellers right off the bat, "this house isn't for me, but I might be able to get you a buyer who will pay that price. IF I bring you a buyer, I wont charge you a penny. The buyer will pay me. so let me ask you, am I the only person on the plant you will sell this house to at this price?" NOBODY has ever said yes to that question, and I have now established my relationship to the seller. We are essentially partners in this deal. You are now equipped to be a wholesaler !!! 

To get em

Josh 

Good question Joe. I am a lot of things, and I make money a lot of ways within my real estate business. One just sort of flows into the other. I am a flipper, wholesaler, landlord, mentor, lender, and I run a REIA club. I am also a public speaker, author, sometimes radio show host, and if I was better looking I would have a TV show (been interviewed 6 times) All of those things fall under my real estate umbrella.

If you do real estate correctly there is no need for a side hustle. A w-2 job is a side hustle but a temporary one while you get your real estate empire built.  Real estate has created more generational wealth than anything in American history.  A side hustle would just be a distraction. 

That is a LOT of money to repay debt  You can use hard money to secure it, and then refi out with a bank !! 

The first question that you need to answer is how profitable is your 4 unit?  What are you expecting the monthly income to look like?  It all revolves around cash in VS cash out. I dont lend in your state, so I am not trying to sell you anything but if I could find a way to buy a cash flow property and have my tenants pay for it, I would be darn interested. 

 So does everyone else, that is why the hard money industry exists, because most of us dont have a rolodex full of wealthy friends who also happen to have no idea what to do with piles of cash. On a good note, hard money is easy to find.