All Forum Posts by: Reilly Barry

Completely agree. Wholesalers are great to have in your network but they definitely don't replace an agent, for all the reasons you said. 

I will be there!

Question for buy and hold investors. Do you prefer to centralize your portfolio into one market that you know very well? Or do you like to diversify into several types of markets?

Hi Justine! In order to find an attorney who is experienced with private capitol, I would start by asking other investors in your market. You can ask here on BP, in a local Facebook group, or your personal circle. As far as what questions you can ask to vet them, I would run them through certain hypothetical scenarios that are possible, and see how they respond.

Hi Christopher! Welcome to the BP community. $9,000 is a great start for someone just looking to get started. A great way to start would be to "househack" a multi family using a FHA loan for the 3.5% down payment. Live in one unit and rent out the other side. After a year move out and rent the other unit out.

If moving outside of the city for a year isn't realistic for you, that may not be the best option. If you aren't looking to move into your investment, I would recommend finding a partner in a nearby market to split cost.

The first step for you should be to build a team. I always advise new investors to find an investor friendly realtor in your market first. That agent should already have a team of investor friendly lenders, attorneys, contractors, and just about anything else you will need. Set up a consultation with your agent and lender to set up a plan for yourself so you have a starting point and end goal. My advice for someone in your shoes would be to get an FHA loan on a multi family, and rent out one side while you live in the other. This is a great way to kick start your real estate portfolio with limited liquid cash.

Hi Kez!

The book it'd recommend for you is "Creative Seller Financing" by Chuck Sutherland. He is extremely thorough and has an answer for any situation you might run into. He once did a transaction that involved the exchange of fifteen different properties in five states among four different parties, so he has definitely seen it all.

Let me know what you think if you end up reading it!

Question for short term rental owners.

I am currently looking in two markets for a short term rental property. The market's are very similar except one of them is completely unregulated. I am curious if anyone has had negative (or positive) experiences owning STR's in unregulated markets.

Hi Mark! My name is Reilly Barry and I am an investor friendly realtor with The Goldbar Team. I would love to connect and answer any questions you might have!