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I am 21 years of age, no kids, in a relationship, a college student studying business administration and i stay with my parents. I have a job that pays just about $1440 a month. My crdit is ok but i’m working on getting perfect. I’ve been studying real estate for about a year now i’m trying to network to get some advice from real people not books. I have about $50,000 dollars saved I know for sure that i want to hold real estate under a LLC. But i don’t know where to start. In a month or so i’ll be attending seminars on real estate and i even plan to enroll to a real estate class at the local community college. This is what i was thinking about doing:
1. Buy a multi-family property under my name not my LLC. Probaly a 2-4 unit property.
2. I would live in one unit and rent the remianding units to tenants.
After 2 years of paying the mortgage, i would use the equity, if any equity to purcahase an investment property under my llc. Probaly another multi-unit. And that would be the star
This works well for you. A 2 – 4 unit property still qualifies for an FHA loan as an owner occupied property. You can then take the equity out later to purchase investment properties.
You’ll probably have to buy it in your own name, then quit claim it to the LLC, as the LLC will not have any credit in its name. Or, try to buy with the LLC, using yourself to personally guarantee the loan (to build credit).
Make sure you find a good Realtor and lender to build your team – as they’re the professionals and will be able to help you to buy right and buy correctly.
Best of luck, you should do fine. This is the best investing plan I’ve seen here on Answers. Well thought out and definitely possible.
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An investment growth calculator can be created manually or electronically to calculate compounded or simple interest. Monitor investment growth, which should double every seven years, with information from a registered financial consultant in this free video on investing.
Expert: Patrick Munro
Contact: www.northstarnavigator.com
Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace.
Filmmaker: Reel Media LLC
Duration : 0:1:16
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i am a young male and i wanna know wats the best advice you can give if i wanna start investing in real estate or wat other methods do u suggest to flip my money
First decide what type of investment you are looking for. Buying then remodeling and trying to sell at a profit was popular for a while and has always been good for people with the skills to repair and rebuild and a good sense of what adds value.
Being a landlord is another way, it is hard too but more long term. You will need to study landlord tenant laws then buy the rental properties and find tenants. Selecting the right property is very important as is screening tenants a bad buy or bad tenant can bankrupt most first timers.
Another way is commercial real estate like mini warehouses. People like to store things and you have less people to deal with.
http://geniustypes.com Commercial Real Estate Investor Chuy Terrazas owns over 200 units and helps me out with some great investing advice.
Duration : 0:5:15
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Technorati Tags: apartment complexes, brian lee, chuy terrazas, commercial real estate, geniustypes, real estate investing,
I have recently come into a little money, and want to start investing into real estate. My delima is that my income, and debt leaves me in the low 60,000 range for a property. I found a property in a college town where I can make money off of the rental, and the house its self is 30,000 under its appraisal. Heres where I am. A. Do I buy it? and B. How do I buy my next property, and how soon can I finance it. C. Do I need to refinance this house to pull equity when purchasing my next? and if so how long do I need to wait to do that? All answers and advice would greatly be appreciated.
most lenders require 6 mo to
one year ownership before you can re-fi.
seek a mortgage broker [pay him
nothing in out of pocket costs]
even for appraisal or credit checks.
get a fixed rate mortgage and
then, require occupants to pay for
tenant’s insurance.
and run credit etc.
and seek max deposits permitted in your state.
and have a lease that says ‘arrests’
for drugs, disturbing the peace,
etc, are grounds for lease violation!
———–
do not use all of the cash out
to buy more RE. use the cash out
to buy businesses–biz’s provide
25+% ROI and RE gives way less.
—also, with Jan and FEB around the corner, study QUICKLY for investment,
delinquent tax lien certificate purchases
AND/ or county/state RE foreclosure
sales–different from mortgage co
foreclosures; these are from
non tax payers.
Miami Real Estate Investors Association MREIA educates Real Estate Investors with investment strategies and advice that help produce multiple streams of cash flow income and assets.
Duration : 0:3:54
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I am a first time RE investor. I want to buy a house that is in a stable to good neighborhood in Indianapolis. I want the home to have some issue (ugly to the bone, foundation problem) something that is fixable but not catastophic. I want a deal 20-30% below market value. With alot of work on my part and some money, I hope to get 15% out of the real estate transaction. Any advice or success stories about transactions of this type? I am interested in your experience.
Thank you.
I just read Real Estate Flipping – Grow Rich Buying and Selling Property by Mark B. Weiss and have some other books on the way…. trying to learn myself too before returning back home to the States. Good luck and read, read, read
Invest in stocks during a recession for companies that no one is using during the recession, but that will be popular again once the recession is over. Consult with a financial planner to discuss buying real estate or car company stocks with advice from an investment consultant in this free video on investing.
Expert: Roger Groh
Bio: Roger Groh is the founder of Groh Asset Management.
Filmmaker: Bing Hu
Duration : 0:1:55
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what are the best ways of receiving that information? i’m currently just starting to learn about real estate and am seeking a mentor for learning how to play the game of real estate, but i only have a vague picture of te process and i wish to get a more clear picture… really any advice would be really helpful….
start with the library. PIck any 4 books at random that discuss
RE investing.
then, email me. I will tutor you for free.
YOU have a lot of deciding to do; RE is like eating; so many
meal choices just more expensive!
Real Estate Investing advice from Gregg Fous – Fort Myers Florida. A series of expert tips for the experienced or novice real estate investor. Fous has years of experience buying, selling, flipping, and making money in real estate.
Duration : 0:8:52
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Technorati Tags: advice, Agent, analysis, broker, deal, economy, educational, florida, foreclosure, Fort Myers, Gregg Fous, guru, instructional video, invest, investing, Market America Realty, Money, real estate,, REO, retire, speaker