All Forum Posts by: Ryan Howard

so I currently work two full time jobs whiles aging up every penny that I can in order to start investing. Recently I've been thinking about getting my re license to start building some relationships and trying my luck selling some homes. My question is would it be better to work my primary job during am or pm hours? My first job is from 4am to 12pm and my second is from 4pm to 12 midnight. I would be willing to quit either as to I could easily support my self with any of the two. Any help is greatly appreciated.

I believe the idea is that once you put in the 10k to fix up the house, the property would be worth more than the initial 110k.  Say the house appraised for 150k after rehab you should be able to pull out 75 to 80% of whatever the after repair value ends up being.  I'm new to real estate investing also still waiting to get my first deal.  

@John Van Uytven 

That's the hard part. I have enough cash saved up for a down payment if needed for a hard money lender and to cover costs until I'm able to refinance. It's just a tough decision because I know if I buy right while using brrr after refinance my first property will already be at 25% equity, but if I go the fha route I'll only be at about 5% and have to pay mortgage insurance. Decisions decisions...

I'm still new to real estate and wondering what's the best way about getting my first property. I'm looking forward to using the brrr method where you buy two properties a year for five years, and the every year after sell two and buy two. Is there a way I can use the brrr method on a multi unit then proceed to house hack, or should I just use an fha 203k loan and then proceed to use the brrr method for every property after? I'm also going to be using hard money to fund the brrr deals until I can build up a nice nest egg for down payments. Any help is greatly appreciated.

thank you all for your information, eveything is greatly appreciated. I'm on my phone so I can't tag any of you. But my next question is, when building business credit for an llc or s corp. will the place I get a business card take into account all of the shareholders personal credit or the business itself? 

So I am looking to get my start in real estate investing by flipping houses. At first I plan on using a hard money lender to finance my purchase and rehab costs. Would it be a good idea to start an llc to do the deals through? I'm interested in building up some business credit to help with my rehabs every once in a while, and having that be separate from my personal credit is appealing to me. Also if I were to go the llc route and decided to keep one of my flips and rent it out for some time, how difficult would it be to refinance the hard money out of the property and get a new mortgage under my llc to rent out the property?

Yes I know I have a lot of research to do. All of this just came about out of nowhere so I'm just trying to figure out all of my options now. But I'm going to be talking to my dad about everything later on today so I will have a lot more information after we have this talk. Will definitely be asking about the mortgage and taxes. I'm just trying to play my cards right, find out all the information I can and what my best option will be to use this opportunity to my advantage 

I am still new to the real estate investing world. And before I found out about my father's move I was already planning on investing in real estate once I learned more and got myself in the position to start. But yesterday my dad tells me that he is planning on moving and that we need to have a talk about my future, if I go with him or if I stay here in Pittsburgh. My question is, if my father agrees to transfer the house into my name will I have access to the equity already in the home and be able to do a cash out refinance to jump start my real estate investing career? I've tried to search the forum for any posts with someone in a similar situation but didn't have any luck. If anyone has any input or better suggestions I would gladly appreciate your help. Thank you 

I found this forum a couple months ago and have been soaking up as much knowledge as possible since then. At first I was eager to get my investing career started with an FHA loan and owner occupy one unit, then rinse and repeat after a refinance was possible. Since then I learned about the extra costs and higher payments due to only putting 3.5% down. I am not focused on purchasing college town rentals about an hour away from when I live. And due to the lower housing costs I would be putting 20% down for every property that I purchase. My question is would it be better to rent my primary residence or start out with a multi unit. One of the main reasons I'm leaning towards renting is to keep my debt to income ratio low so I am able to aquire more properties l will gladly appreciate any help that anyone can give to help me get started out. Thank you in advance.