All Forum Posts by: Steve Kontos

@Zain Pirzada

My recommendation is to read and take some sort of educational course.  After this, you should have an idea of what kind of investing you want to do (flipping, buy and holds, etc.).  That's how I went about it and we ultimately decided to do out-of-state investing in apartment complexes.

@David Ma

Make it happen!

@Raeshelle C. 

@Hazel Wiggs

Ladies, I am just reading this trail and to be perfectly honest with you the theory that you need to save to buy is a rather outdated one.  When I started, I leveraged my credit and did not even use my own cash.  I did this to purchase property out of state (I am located in New York).  I am seeing a common theme here that quite a few individuals do not understand the different aspects of leveraging.  I am by no means knocking on the "save and buy" method but there are many people who have done extremely well in real estate and did not use that method.  Hope this helped a bit.  PM me if you have any further questions.

@Account Closed

I am personally a fan of leveraging my credit.  It's a lot cheaper and kills to birds with one stone; builds your credit and no need to use your own cash upfront.  Let me know if you have any further questions.

@Ray Harrell

You are 100% accurate.  In today's markets you absolutely do not need to save and then buy.  When I purchased my first deal back in 2009, I leveraged my credit.  I did not use my own cash.  I think the component you are missing is Leverage.  This subject is a loaded one but one I believe will help you based on what you are saying.  PM me if you have any further questions.

@Joel Bauer

I have worked with Steve Goodson and his son Jay.  They have been nothing short of great.  Steve is extremely knowledgeable in Johnson City.  PM me if you would like Steve's contact information.  

@Michael Enriquez

Congrats Michael!  Don't downplay what you have done; it's great!  I too am from New York but decided to invest out of state because the numbers just didn't add up for me here.  If you ever want to switch gears from New York due to the cash flow issues, definitely PM me.  In the mean time enjoy your deal!

@Hazel Wiggs

Hi Hazel.  The key thing here is to first decide what it is you want to do.  Go to networking events, speak to other investors and get a feel for what's out there.  Secondly read several books and continue talking to people in the business.  There are many different forms of investing.  You need to choose the one that best fits you.  I have always enjoyed being an out-of-state investor.  My team and I primarily buy apartment complexes.  For me, that's what I really enjoy.

Hope this helped.

@Jonas DeVita

First off the fact that you have already done what you have done is great!  The only thing is your specific type of investing has limits.  My team and I do mostly out-of-state buy and hold apartment complexes.  I do believe getting your foot in that door will be better off for you.  The key is to speak to others who have done it and see if it fits with what your personal goals are.  Keep in mind that this type of investing is different then what you are used to.  Let me know if you have any other questions.  Feel free to PM me.

@Abby Li

Welcome to BP.  My team and I are active out-of-state investors.  We purchase apartment complexes in landlord friendly states.  The rates of returns you mention above aren't bad, but there are better opportunities in some of these markets.  PM if you would like to further discuss.  Regardless best of luck and again welcome!