All Forum Posts by: Thomas Moyer

@Trevor Davis I’m a 26 year old investor, so I may be able to relate to these guys on a personal level.

My best advice to anyone just starting, is to start. Go **** up. Investing that much money is scary to us, and I would say you don’t need 250k to start.

I started flipping houses 3 years ago, I purchased my 1st house for 21k and ended up going way over budget and spending almost 80k in renovations (hard money payments, water bills, electric bills etc) and still sold the property for 130k .

After closing cost we got a check for around 120k and I had to split the profit because I didn’t have any money in the deal .... but so what, I gained knowledge and still walked away with some money.

After doing 10+ flips, I’m in a position to buy rentals, however it’s a crazy market right now so until I find a solid location for a solid priced rental, I’m going to continue to flip homes.

Once your in the game the market tells you what to do. You didn’t make it straight to the league though, right ? You had to go threw pop Warner, then you had to be that high school all American and then the collage stand out, and after all of that your name got called.

Find your entry point, you mite have played quarterback when you were younger but found out along the way you were a receiver, but you wouldn’t have understood that if you never played . It’s the same thing you may start out wanting to flip houses but you may be the type of person that loves commercial buildings.

@Nathan G. If someone wants to refinance there home, are they only eligible to account for there 55% ? So if a home is paid of and worth 100k, and the owner can only pull out 50% of the equity does that person get $50,000 or $27,000.

@Tom Gimer

appreciate that, that’s what I was hoping. I was planning on getting a quad, living in one unit and renting out the other 3.

Now I just have to find a good deal. Lol

I have just acquired my first investment property. I acquired the property in my LLC's name, I am looking to renovate and flip this house.

My question is, am I still able to go threw a first time home buyers program and purchase a property in my personal name. If so I am looking to do so for my 1st rental.

@Grayson Gist

Im obviously a black guy, and I appreciate your concern about working with someone who is racist. However, business is business, if he does good work and will do it for you for a reasonable price I’d still go with him.

This is something I have to remind myself of daily in the business world. People are who they are and you are trying to accomplish what you are trying to accomplish. Especially if you can’t find anyone else.

However ! I wouldn’t partner with him on anything long term or recommend him to anyone and I would do this all while still praying for him. (But that’s a whole nother conversation lol, we won’t go into the economics of people who look down on minority’s.)