All Forum Posts by: Tesho Akindele

That sounds like a great deal @Donah Tan. I’ve also had my eye on the Blue Hills neighborhood!

Congrats @Donah Tan! Where in Kansas City is the house? What are the numbers looking like on the deal?

I think the answer depends on your strategy @Dorien Devine. If you are planning to flip a house or use the BRRRR strategy I think using a HELOC is a great strategy. If you are planning to do a long term buy and hold I would say a cash-out refinance is better. Banks can cancel your HELOC, sometimes without much warning. You don't want to have your money tied up in a long term project and have no money to pay back your HELOC.

@Matthew Grisafe in Kansas City specifically I have noticed that water intrusion in the basement is something to look out for. I would also look at the HVAC system. If you need to install central air or replace a furnace that is going to cost a few thousand dollars.

@Michelle Lancaster lots of banks will ask you for 25% down on a duplex or larger. But not all. Try calling around, especially to smaller local banks. Some of them will have more flexibility

@Tonye Jack once you have narrowed it down to 2 or 3 potential markets you should start calling property managers and realtors. I see people spend so much time looking for the “perfect” market and then they never do anything. There are lots of cities where you can be successful as long as you have a good team helping you. Good luck!

@Shawn McCormick I would definitely agree that finding a win win situation is real estate is so valuable. From working with sellers, to contractors to partners. The people who are able to create win win situations will always be more successful

Wow @Shawn McCormick that looks like a home run deal! I feel like all throughout this deal you showed why relationships can be so powerful in real estate. 

@Rocky Singh if you want to learn more about the Orlando market you should definitely reach out to @Tyler Gibson. He's been in the area a long time and can give you all the details you would need.

It's awesome that you're already thinking about investing at 18 @Michael Duignan. 

One great way to start in the real estate industry and make money right away is to get a job in the industry. Work for a property management company or a contractor. You could even get your real estate license. Working in the industry is a great way to learn more about how investing works, meet people who are doing deals, and make money. 

Save that money and you'll be buying your own deals in no time. Good Luck!