All Forum Posts by: Ryan Hill

@Marc Poulin sounds like you're in a tough spot as far as your job goes. It's cool you're thinking of different solutions! Real estate is a great option - it's important to have a long term vision and solid goals to work from. Helps you get through the ups and downs as you grow. Do you know where you'll be investing? Definitely want to nail that down and be as specific as possible in doing so. Once you pick a market you can start building out your team to help support your business, work on finding some deals to analyze, figure out your plan for financing your first property ect..you want to have everything in order as far as your team goes/money goes so when you start making offers you can pull the trigger if it's a good deal. Plenty more to talk about here..don't mean to overwhelm I get excited. 

Hey @Marc Poulin. Welcome to the game - buying rentals can be a great tool to create enough passive income for you to change up what you do on a daily basis and have a large impact on those around you if that's something you want. What're your goals? How would your lifestyle change as mentioned?

What's up Quaderrial? Sounds like you've gotten a lot of research out of the way. Don't want to do too much though or you'll never get anything done. I'm a real estate investor out of Denver, investing down in the Southeast. Nice to meet you man...what's your investment strategy?

I'm interested to hear what kind of interesting challenges the Bigger Pockets community has encountered in these strange times we are in. I'm in the real estate coaching space so I'm trying to understand and get ahead of some of the challenges investors have run into to better serve new investors hopping in right now.  

To clarify, challenges with buying rentals. Anything throughout the process! 

@Cameron Lim it seems like you have a good understanding of the basics. I could answer each of the questions you have asked although I feel like I would be doing you a disservice because a lot of this is dependent on what your specific strategy is and the specific deal you are working with. There are a lot of other questions to get answered based on those two things. 

Are you going to buy these properties in cash? If not, you'll need to take out some sort of loan, likely hard money or private money. What're your goals (how many are you trying to buy)? Over what period of time? In this example you provided, what would a house appraised at 180k rent for (estimate)?

@Willie Norris Forums - - -> Create post - - - > Enter in the information like you did and scroll down to choose the specific forum you want to post yourself. New Member Introductions is what you'll look for. 

What's your goal with real estate?

There's a lot of directions you can go with this one. I use due diligence for inspections, getting comps, talking to property managers, getting contractors in there to get a rehab estimate. Typically shoot for at least 7 days depending on where  you're investing. Before you negotiate a due diligence period with the seller make sure to have a chat with an inspector to see when they could get in there and how long after the inspection you will have the report. 

Do you have a specific deal you're working through?

Edited: My screen didn't show you're explanation so let me read that real quick. Second edit lol: TBH I don't have much commercial experience so this is out of my wheelhouse..don't want to give you any misinformation. 

Nice - congrats on getting started! I would definitely recommend listening to the podcast, reading through different forums based on what/where you're trying to invest. In the end you'll learn by doing but it sounds like you're working alongside someone who has some experience? 

@Matt Byrne it depends on what your plan is. I'd say you want to make sure to have a few things in place before you start making offers. This may be stuff you have all in place so if you get an offer accepted you're good to go but I'm going to say them anyways! 

- Property managers (If you're managing the investments yourself you obviously won't have to worry about this). 

- Access to money or your own money (Hard money and/or private money)

- General criteria of what you're looking for

- Access to off market deals

- A few contractors (if you plan to buy something that may need some work) and a project manager to manage the contractor. 

Some of this may not be relevant to you depending on what your strategy is..I know this is a lot of stuff but it doesn't take longer than a few afternoons of phone calls to set up. 

What would you say is holding you back right now? 

Hey Jessica, sounds like an exciting journey. Have you gotten any kind of rehab estimate on the house? Once you have a general idea, I would recommend just calling some local hard money lenders with the numbers to see what kind of questions they ask you..I'm sure you could understand whether or not the hard money route would pan out after a few conversations. Depending on how long the hard money loan would be, you can also have a conversation with some local banks to ask them their process for refinancing after you rehab it just so you have your ducks in a row. They probably won't be able to give you a definite answer but should give you some things to think about and set you up so when it does come around you've taken the right steps. Good luck!