All Forum Posts by: Will Melton

I am a digital marketer and am looking to become an REI through the buy/hold strategies, but it might be a few months before I do my first deal. I have a financial backer and am learning the ropes, but I ran across a couple of websites that seem like they might be a good way to get started for myself.

I am looking at creating a "We Buy Houses" website that also has a place for investors to contact me. I am confident that I can get through my first customer when he/she comes, but if I get a good deal, how soon could I expect to find an investor if I don't already have one? I am not sure that I will want to dive right in a flip something, so I think the wholesale route would be better.

Any advice on this route? Anything I should watch out for?

Thanks, @Russ Wallace. I definitely need to get more information all the way around, but your suggestion is good. Perhaps I will find an example deal and present it to him and ask how he might be interested in being involved.

I am new to investing. Really new. I started with BiggerPockets over the weekend and have immersed myself. By far, I still have much to learn. I have purchased a number of books and am going through my business plan in my head before I get it out on paper. Part of the issue I am running into is with where to start. (I have listened to 10 or so podcasts and have read the Beginner's Guide to Real Estate Investing.)

I am looking at moving to New Haven, CT and was scoping out the market for my first ever home purchase. Along the way, I thought about buying a multifamily and renting out what I was not living in. I am still considering this, but in my excitement, I started talking to some of my business contacts.

One of my long-time customers (I am a partner in a couple of successful businesses) who has plenty of means has offered to back me on my buy, but agrees with me that I should pursue an apartment building. I am thinking of doing both.

Right now, I am trying to figure out how I should work with him. He is older and mentioned he prefers stock because of the liquidity, but we have a good relationship and I think he is more interested in helping me get a start, but will not ignore his desire to get a return. Do I ask him for a portion of the purchase for a downpayment on a commercial loan? Do I consider getting him to fund the entire purchase and take it as a loan or work him in as a partner? In either case, would it be easy to refinance an apartment in 5 years or so so he can cash out?

I know that I have to find a good deal and get my business plan ironed out before I can ever ask him for a dime. I understand all of the concepts in finding a good deal and have connected with some people in the market who are willing to help me find deals, but I see an opportunity and I know I don't have to act tomorrow, but I feel the need to accelerate my knowledge in this specific area in order to pursue this option.

Thanks @Dmitriy Fomichenko and @Antonio Coleman for the warm welcome. I am loving this place already!

@Raymond B.

 Thanks for the advice! I first quoted, but didn't want to fill the thing with the original message. This is helpful!!

@Larry Fried, thanks for your note. That was going to be my next step, along with a webinar on Wednesday and having listened to 4 podcasts since I heard about this yesterday. Looking forward to connecting with folks too.

Thanks again for your support!

Hey everyone. I just started listening to the BiggerPockets podcast today as I am anticipating a move in about 6 months and am considering buying a multifamily home in Connecticut.

I am currently a partner in two businesses in Williamsburg, VA and rent a condo that I love. I plan to keep a room in my condo when I move so I can keep a finger on my businesses here. I've always had a knack for business, but I haven't always been great with my personal money. Recently, I embarked on a plan to pay off my debt and start saving/investing. I'll have virtually no debt by the time I move and will have the ability to save a decent chunk of money each month.

I've know real estate investing to be a profitable venture for many, but never saw myself in a position to get started in it. It looks to me like there are a number of opportunities for either flip or multifamily cashflow situations in New Haven as this is the home to Yale. My girlfriend will be pursuing a PHd there.

Anyhow, I am not sure what direction I am going to take this, but I have a mortgage guy looking at my situation to give me options so we can purchase a home for ourselves, but I figured I might want to dive into this thing and really make some money for myself. Any advice is more than welcome and I will try to reply as soon as I can to any that is offered. My second company keeps me rather busy, but investing in real estate looks promising and I may choose to shift my focus soon.

As an aside, I am a digital marketing strategist my trade, so I am looking to bank on that experience as I get into the real estate investing business.