All Forum Posts by: Anthony Simboli

Wanted to open up a thread to share any 90 Day Goals people have had, even non real estate related. Might spark some ideas for others looking to set up their 3 big goals or to discuss some challenges or successes they've had with their goals. Will share mine below!

Quick summary - I have a multi-family property in which I invested with another partner. We're both 50/50 and not in an LLC. I am being bought out and will eventually be off the mortgage. I currently still have all of the debt on my credit but will be removed once I get off the loan.

Does anyone know the impacts (if any) it may have on potential rates I get for another home (looking for single family right now just for myself)? Are there best practices to getting information to the loan officers about proving I won't have that debt once I'm off the loan? Does it matter? Any help would be appreciated. If anyone needs more information please let me know as well didn't want to drag out too much information if not needed.

Thanks! 

@Chase Whitney I'd suggest updating your profile, as well as making another forum post or blog that highlights what your goals are, what it is you're looking to learn, or apply to the real estate world. Allow others to get an idea of what drives you and maybe you can partner up with someone. Even if it means you don't have much capital to offer. Remember everyone starts somewhere! Focus on what you do have i.e. knowledge, the will to learn, and be mentored etc.

@Aaron K. Thanks for the feedback. I've been filling one out and I'm starting to realize that maybe it could do more harm than good. However I'm trying to not have a situation that I've seen happen where the appraiser comes in and has no idea about the neighborhood or doesn't account for new things because they don't know the dates (i.e. new furnace, or updated plumbing etc.). I want to make sure they have all the information without feeling like I'm trying upsell. 

Does anyone have a Word Doc or other template that can be filled out for an appraiser to give them information about upgrades/updates/comps for the property. I want to make sure the appraiser coming for the future buyer has a full list of everything so we can get the highest appraisal possible.

Thanks!

You can have different strategies within the BRRR Method. It's not a one size fits all. Some people have taken out all the money they can where as others elect to not take as much. It all depends on your short and long term goals. Depending on that, you'll want to run the numbers on what makes sense to take out.

That's always possible that others may partner up on deals you've analyzed and posted, but at the same time, if you're consistent on the forums and people take notice that you're doing well with not only finding deals, but analyzing them, they'll see your passion and they'll see your value. You're only 18 and just creating this post is valuable and shows you're making steps to learn and grow. 

Also suggestion, but find deals that others have posted and comment on them. Maybe you see something they don't. The more active you are, the more exposure you'll get and someone may want to partner. 

@Bradley Post My opinion, but a great way to find someone to work with is to post a blog about yourself. Who you are, what it is that you're looking to get into, why you're looking to get into real estate etc. You don't need money or experience to find a great mentor. If making a million dollars is what you're after it may be difficult to find a partner based just on a monetary goal. I know for myself personally, I would want someone who can prove they are motivated and they are passionate about their goals and willing to learn. 

Just my input, but also interested to see what others say, I've taken the classes for MA but have not taken the exam yet. My understanding is even if I get the license I'll still need to work for a company in order to get access to everything and it would take many years/hours to get to a point of being a broker to do it all on my own. I would say that there is always benefit in networking and educating yourself around people who are in the field

Hi @Troy Zsofka thanks for the information. I'm looking for a property to live in and do the rehab myself. Yeah I'm in the process of selling a property in MA and definitely still seems to be a lot of traffic. I'm not in a rush to get into anything so I'm going to be looking for a decent amount of time and already have a few lined up that have been on the market for a while so I'm not in a rush to go see those. 

Thanks