All Forum Posts by: Edwin Brown

I have to agree, when buying your first property you will most likely need to buy in your personal name in order to get financing. As soon as your loan closes you can execute a Quit Claim Deed, or its equivalent and put the property into your LLC. This does shield you (up for debate in legal circles) from some liability with the property, but you will always be on the hook for the loan.

The saying around here is that "Money takes halves". Your partner is taking all of the financial risk while you are doing all of the work. I agree with John.

If only reading could answer all the questions we have about investing in real estate.

My experience has always been that very few people are annoyed to hear that you buy properties, especially when they are selling. It's trying to sell properties that people don't always want to hear about.

What about a balance. Income now and wealth later?

Have you found that racking up posts is helping your business? What networking benefits if any or deals have you found by being out there more?

I'm trying to get them to call me and can't get a call back. They may have gone out of business. I too am interested in their product.

By far the greatest frustration for me was tying down all the loose ends on every deal. From finding a property to closing out a buyer or tenant there are a hundred little things that have to come together and no one is looking over your shoulder helping you figure it out. If any one of those things doesn't come together, you deal stalls until you can figure it out. Still working out the kinks 150 houses later.

If you want to really grow your financing you have to start exploring options beyond the "fannie mae 10". Establishing relationships with local bankers will open up worlds to your investing.

I just took a trip to another city and a startling truth hit me so hard i was seeing stars. No matter how much you know, if there are not deals in your area that match what you want to do, you are going to fight an uphill battle the entire time. If you are looking to buy and hold, there are certain markets that clearly offer better returns with less investments. In fact my business is selling properties in Jackson, MS and Memphis, TN to local and out of state investors. The deals require 10% down in some neighborhoods and nothing down in others. Not bad when they still get 150/month cashflow. Check out boring cities that no one talks about as they usually haven't experienced a crazy kick in values that make them not cashflow.