All Forum Posts by: Samantha A.

Thank you for all for the fantastic advice. 

@Dwayne Byrd , I'll be in touch! I'd love to hear about your work in the area and learn from you. 

@Linda S. - I appreciate this advice! Multi-family really seems like the way to go. I really like the mindset of preparing for things to go wrong. Any type of business always carries unforeseen circumstance, but it provides so much more mental clarity to just ride the wave. Mindset is everything. 

@Jerryll Noorden Thanks for the advice! Man, this community is really helping motivate me. I'm already shaking off this analysis paralysis. 

Creating a website would be a great step to take. I'm looking forward to connecting with some locals to pick their brains a bit. Very cool that you went to F.I.T. - I've been looking at some properties in that area. I'm really interested in renting out individual rooms to students. Seems kind of lucrative, especially with having their parents cosign. 

Also, I'm not totally into wholesaling, but rather buy and hold. As well as some fix and flips. I'd like to mix it up with both of those, as fixing up homes is my idea of fun, but definitely not something I want to sustain forever. Having the buy and holds is the ultimate thing for me! Even better - I'd love to renovate the buy and hold properties before renting them out.

 I would love to check it out before it's done! It would be wonderful to connect with other local investors. 

Thank you for the insight, @Andrew Postell - Building up to a portfolio loan is definitely the goal. What do you think about the questions from @William Henning ? I'm also very curious as to how you can be given multiple loans from underwriters. Is there a way to prove that you will be bringing in the rental income if you have an LLC?

I'm curious about using the BRRRR method and how the bank preapproves an investor with multiple mortgages. When you're ready to purchase additional properties - how do you get approved for the additional debt with your 2nd... 3rd... 4th.. (and beyond) homes?

I understand that you prove legitimacy as an investor with consistent, on-time payments, but how does that formation of trust begin? And what sort of purchasing timeline can you have (# of mortgages you get in the first few years)? 

Thanks, Jonathan! I'll do some research on multifamily units. And I'll definitely be reinvesting the cash flow - I appreciate the feedback. 

Hi everyone, I am a young investor seeking out guidance on my first deal. I've been educating myself for over a year on real estate investing, but feel that I'm stuck in analysis paralysis. I highly value any advice experience investors and have been really enjoying these forums. Thank you in advance for your thoughts and input! 

I am twenty-three years old and living in central Florida. I am self employed and have always been an entrepreneur. I currently run two woodworking businesses, and have saved as much as possible since a young age. The thing is, I've never invested in anything but myself and the businesses I create. I have about 100k saved and have never had any debt. I find that because of my age, I'm never taken very seriously when I seek out guidance with real estate investing. I've heard a lot of - 'it's harder than you think', 'it will not give you good returns', etc. While I know all of this is untrue, I'd really love to hear from someone who believes in investing at a young age. 

As I mentioned, I am a woodworker, so I spend about 8 hours each day listening to podcasts. Everything from Bigger Pockets, Listen Money Matters, Smart Passive Income, and Robert Kiyosaki. I read everything I can and am incredibly eager to get the ball rolling. If I have a plan and direction, I always go full force. If there's anything else I can do to educate myself, I'd love to hear your input.

My long term goal is to generate passive income through buy and hold rental properties. I'm comfortable investing out of state, but would be more comfortable with an intial investment in Florida. I wouldn't mind getting my hands dirty with fixing up rentals, as my partner and I are experienced with a variety of construction. Between the two of us, we are experienced with soffit, siding, roofing, flooring installation, carpentry, etc. We can cover a lot of bases together. I'm also open to fix and flip, but feel that it might be a safer idea to start that further down the line with a bit more experience under my belt.

I'm also interested in being an investor toward fix and flips that other individuals are handling. How would I seek out investing in this? What path would you recommend that I take?

One last thing - I would love to be a homeowner. I run my businesses out of my garage right now, and pull in about 80-90k / year. It would be wonderful to own my own home and workspace. Especially with the noise I create from power tools, I would be able to insulate my yard with more foliage to absorb the sound. While I don't plan for this to be a lifelong career, I expect to do it for at least a few more years or make it part-time someday. The real goal is to have a full income stream from real estate (at least 100k/year), and then pursue other small businesses on the side for enjoyment. While I'd love to be a homeowner, I would dish out at least 325k to purchase a home in my area, and I feel that investing this in rental properties would be a better direction. What do you all think? What would be the most lucrative way to invest?

Thank you for taking the time to read this post - I would love to answer any further questions and hear what you all think!