All Forum Posts by: Ryan Inman

As the title states, looking to start a great working relationship with a private money lender that does deals in Las Vegas. The first project I have is quite small and is out of the realm of a few HML's. 80k purchase, 30k rehab, ARV 140k. Other deals can/should be larger 100-200k range.

If anyone knows of anyone in this space please reach out to me or guide me in the right direction to find a great HML. Thanks everyone!

Love the ideas. Tiny house on 1/2 acre seems like a lot of wasted space though. Keep us updated, the idea sounds awesome.

One thing that I did not like at all, and was a HUGE trap, was the fact that IF (and it always did) the appraisal came in low, they would not negotiate on the price and you had to come out of pocket on the difference. I know that this is a lending and industry standard, but the level of experience that the average buyer is quite low or very new to RE. Its not fraud but really putting the investor in a very bad spot for their investment in the short term, already starting off with a loss.

Ex: If the home appraised at 100k, but the purchase price was 115k, you would not only be expected to come up with the 20% (or 20k down) but also an additional 15k to get up to the purchase price. The lender (that they nearly force you to use) is well aware of the appraisals coming in low and this whole process is mentioned several times ahead of closing. They do enough volume that they know what to expect and make sure to fully disclose it, which is great, but this is a very big value trap for unsuspecting new investors.

Its great that this was your first real estate transaction, you took the jump and made a purchase. There are several other mistakes you could have made that would have been way worse, but its a learning experience and you are still in the green. Good luck on future investments.

Ryan

Charles Ho reach out to me if you want to chat about stocks, bonds and real estate. It is literally my favorite thing to do and I'd be happy to share some experiences and learn a few things from you as well. I have some differing opinions than most on here but there has been some really good information posted in this thread. Stocks (us and international), preferred stocks, bonds (us and intl), rental property, hard money loans etc are all good options.

I am in the minority on this, but I really dislike insurance products. These products are usually sold with high load or expensive fees that really do not benefit the client as much as many believe they do.

You guys are welcome. Allocation can range from 100% bonds to 100% stocks. You can be as safe or risky as your investment risk profile can tolerate. If it was short term place to park some cash, let's say around 90 days or less, I personally would be in the 0-10% range stock and 90-100% bonds. You would earn more on your cash than in a checking account for very little time/effort. Good luck all.

If you have small amounts of cash between deals, I highly recommend to look into Betterment. Betterment is a robo advisor that charges as low as 0.15% per year on balances over 100k and as much as 0.35% on balances under 100k. There are 0 other fees associated with them and include unlimited rebalancing and tax loss harvesting. Their platform will allow one to invest in a certain % of bond and stock funds that are highly liquid and gain not only us market exposure but international exposure, in total about 12 very diverse funds. From the time you tell Betterment you need to funds by initiating a withdrawal to the time it hits your bank account is 4 days. Instead of leaving large cash a balances in your bank, I highly recommend looking at their platform. If you work with an advisor that uses their institutional platform you will potentially gain access to more ETF funds and differing allocation %'s.

Taking a step back, if you had a diverse portfolio, you would not be sitting on a portfolio of cash. I highly recommend taking a long hard look at how you can diversify so if a market overheats you will still be invested in other quality investments. While no one can truly help the other issues but you, I would like to comment on one piece. Money doesn't define a person. If you are a good person, it doesn't matter if your friends know you have money or not. It is tough to relate to others problems that you might not have yourself, but if they are true friends then they won't judge you for what you have.

Sorry typing on the phone. Yes no reason you should not pursue the deal. Thanks for the correction help 

If there is a deal that is fair for both parties and you don't take advantage of the friend relationship (late payments etc), then I see no reason you should pursue the deal if the numbers make sense. Good luck!