All Forum Posts by: Sebastian Bennett

@Shravan Hemchand Congrats! By the end of today you will have an inbox full of "gurus" offering you courses and mentorship on how you can build a multi-million dollar real estate portfolio without using any of your own money! Don't drink the kool-aid! I am new to the game as well and admittedly nearly fell for these traps. It's actually what got me interested but after speaking to a few others on BP was taught the truth which is capital is needed!

@Scott Bogue listen to what @Bruce Woodruff & @Stuart Udis have to say. They are always on point on construction liability and best practices. I've gotten to know a number of investors who roll the dice and then get their jobs shut down with violations when they are caught. Seems to be more costly than the savings for the projects that do successfully fly under the radar.

It depends on the type of loan. Is this a construction loan? FHA loan? conventional loan? By way of example, 9.5% is going to be the low end for construction financing. I've picked up from a few others on the forums the banks rely on the fed rate for their construction rate financing, and this seems to be where the rate currently exists.

@Russell Brazil Why do you expect expenses to go up? I appreciate your insight on these forums, thanks in advance!

I see this forum has been revived over the past week. Anyone find it interesting Justin has not been heard from since? For someone to have such a presence, suspicious for sure!

Don't most collect first month, last month and security deposit as means of circumventing this rule?

I've been thinking about getting a real estate license. Not necessarily to represent buyers and sellers but more so for my own research. Do you believe it will now be more cost effective to hold a license or do you believe the expenses will go up with what I assume will be a flight from the business by low producing real estate agents?

Yes, as Eric says, the homes have to have all of the bells and whistles and even then you sometimes get screwed and don't get the rent value's you are seeking. I am not sure if there is an appeal process or if you are then stuck with that rent value. Seems to be quite a risk not being able to set your own rent.

@Mathew Fuentes Who is the mentor you are using?

Interested in learning more