All Forum Posts by: Shawn Ackerman

@Yoni Weisbrod Perhaps purchasing certificates of deposit will be your way to financial freedom.  There is very little risky there.  Plus you have the added protection of knowing that your deposit is backed by the Federal Government.  Good Luck!  Stop in to your local bank when you have a chance.

If your looking for an investor friendly Realtor in the NYC area contact me. As an investor I understand the makings of a good deal unlike agents who do not have a clue about Real Estate investing. I have a network of buyers/sellers and also have good relationships with title company's as well as lenders. ONE STOP SHOP!!!

@David Diaz first things first, Add a photo.  People are more likely to respond to people they can see.  Secondly, Welcome.  You have come to the right place.  You should be thinking about what you would actually like to do in real estate and zero in on that niche.  Podcasts and books like the beginners guide are both great resources.  Good luck in your journey.

@Christina Phillips Welcome to BP.  If I can assist I'm a PM away!

Welcome @Breon Jackson.  You have found the Instagram of Real Estate.  Good Luck in your endeavors.  Were all here to help.

Welcome @Mike Stewart!!! Good luck with your real estate goals.

Reece O'Bryan I think this is a great way to use OPM to make your Real Estate investing dream happen. With that said you must consider the following. 1. Exit strategy for the BLC- If the LOC are from CC's then as the gentlemen states earlier you must get out from under the cards before 12 months otherwise "you will drown" in the interest. I have used this strategy, It works but I had a matching reserve(same amount in a checking acct) to bail me out in case I couldn't get out before the interest period. 2. Personal Guarantee- you will be "personally liable" for repayment opposed to getting qualified based on tour EIN or CPN(look into CPN......). You run the risk of totally damaging your credit if you don't have an exit plan. 3. Proper Use- If you go this route make sure that you use the money only for business purposes. I have seen some of my clients get upwards of 80k in credit lines and go on vacations or buy cars and or other liabilities that does not bring in a return on investment. Keep us posted on the n your progress If your interested PM me as I have a lender, low-cost entry market to invest in and great properties(SFR's) all under 65K that beat the 1% rule and cash flow nicely. Good luck to you and great job thinking outside the box.

@Deepika Tandon did you find what you were looking for?

If your interested in 20% down and reasonable terms for this or another property Dawn please keep me in mind.  

I'll send you my banking routing number and acct number lol!! What I would do with 70K is find a lender either conventional or commercial that will finance 85% on SFR's or 20% on a 2,3 or 4 units and leverage 50K of that into 200-250K in financing. buy a couple or few right then Refi those and your off to the races with 20 K tucked away for a rainy day fund and hopefully a good amount from the 200-250K Refi, Then use the Refi $$ to purchase more property.

You must treat money like a slave, work it hard 24/7, then work it's children even harder, then it's children's children.  Enslave your money or it will enslave you in the form of mortgage payments and other expenses and debt obligations.  Just my outlook on things.

I would also look in another market, doesn't seem like you can achieve what I mentioned above if your stay were the current property is.  You will most likely have to branch out and develop a boots on the ground team elsewhere.  Good Luck!!!