All Forum Posts by: Kim Handelman

Just made an appointment with a local lender at our town bank to sit down and discuss my options in the banking world. I'll report back. May have to pull some of Brandon's NO MONEY DOWN tricks : ). Again, thanks to all for your input. Moving forward one action at a time!

My Husband is a wildly talented photographer with a successful photography business but he really doesn't seem to get this real estate stuff and hasn't quite embraced the idea of passive income. I think he thinks it's all smoke and mirrors : ) It all actually scares him so he's begrudgingly watching me do it so the short answer is no he will not be involved. 

I am currently looking for a partner. I do have some money stored away but not enough to buy a building with cash. Possibly enough for a down payment on a 3 family here in CT. I have years of experience in marketing, advertising and sales but I'm not so good with numbers. Hopefully I will find a numbers person that doesn't get the marketing side of things. 

My plan is to build up my buy and hold business until I have about $3,000 a month in cash flow (my cut) to take some pressure off my husband and his demanding shooting schedule. Then eventually pay off the buildings and retire with the bigger cash flow.

Thanks for the link to the NoNonsenseLandlord.com I'll check it out now. I'm also interviewing attorneys so I have someone to turn to when my Perfect Partner" shows up. 

Thanks for your help, -kim-

Hi Everyone,

I am a newbie looking to buy my first buy and hold property. I'm in New Haven CT and am looking for a multi-family property. I have excellent credit (849) but am a full time mom so I don't have a JOB. My husband works but doesn't want to have anything to do with it so I can't put him on the loan. Will a bank or private lender lend to someone with great credit and no job if the property's numbers are good and it cash flows? If not, any ideas out there of how I can get my first property financed?

Hey Everyone,

My sister met with the owner of the SD house today and he was very interested in the prospect of selling it without dealing with putting it on the market but...there's always a but...he said he can't even think about any of that until he gets his sisters belongings and financials sorted through. He said he needs a few months to do this so we're in a holding pattern with my sister popping in to help him hear and there to gauge where he's at. So with a little patience and persistence I'm hoping to reach out to you all again in a few months. Till we speak again!

Hi Everyone,

I'm a newbie wholesaler. I've gotten close on a few deals but haven't been able to actually get a contract signed yet. I live in CT and my sister lives in San Diego. There's a house in her neighborhood that has just gone vacant (owner took ill). She is friendly with the family and the brother wants the house to "Go away!" perfect wholesaling schenerio. Am I out of my league to try to make this deal happen? The house is in an amazing neighborhood and hasn't been touched in 40 years. Classic flip or possible pop-top.

I was thinking I can get comps long distance. My sister can pay a contractor to come in and give a bid (maybe sign a non-compete contract???) then run numbers and since I signed up for Pro I could put it up in the Marketplace and reach out to flippers in the SD area. Is this crazy? And if it's doable, does anyone have any experience with long distance wholesales? ADVICE PLEASE!

Hi All,

I found an 18 unit property that I am interested in and went to the town records to find the name and address of the seller to send out a letter. That letter was sent back undeliverable so I went to the towns website and looked it up on VGSI.com. They had another seller's name and LLC listed. Sent another letter out and that was returned as well. It also had an attorney listed so I sent a letter to him twice, no response. Where do I go to get the correct data? I figure maybe the tax collector would have the correct info but i don't know where to get that info. I've heard some people use a skip tracer. If this is the way to go, which skip tracer have you all found to be the most accurate/economical? Thanks so much.

Hey all,

I'm a newbie Wholesaler and am really struggling with finding deals and more importantly when I do find what could be a deal finding reliable comp data for ARV. I'm not getting very much cooperation from realtors on helping me with comps.

I'm on a very limited budget to get started and am weighing the merits of becoming a licensed real estate agent. 

Pros: Access to MLS, Access to seeing listed houses any time I want, if I work with an RE agency getting to sell properties, Making referral fees on those deals that the numbers don't work.

Cons: Taking a lot of time out of my days to get the license, costing valuable $$ that could be going into DM campaigns, and a little nervous it's distracting me from taking my eye off the prize - in other words is this just one more place I am choosing to get more educated rather than just diving in and making deals.

Any input???

Just checked my credit score 840!! How did that happen?! I guess I'll have no problem with banks it's the hubby I've got to talk into it.

@Robert Leonard  Thanks so much for your informative post above. Just know when you take time out of your busy day to help a newbie out, you're not only helping him but the rest of us that read the thread in the future. We all really appreciate it!

Thanks so much guys,

I think you all have good points. I think I'm going to make a hybrid of your advice. Since I'd ideally like to hang out at his office to be in the middle of things, I will tell him that I will work for nothing on his deals and do whatever I can to help him out in return for education but if I find a deal that I can bring to the table, I will ask for a percentage. Maybe not 50/50 since he will be involved in assessing the deal quite a bit and has the buyers we will need to close the deal. Thanks so much, you've been a great help!