5:00 -- Start of list 1) 5:23 -- Commitment 2) 8:28 -- Knowledge 3) 13:22 -- Get your life in order 4) 16:38 -- Decide what you want to do with your life 5) 21:20 -- Decide what real estate strategy you want to pursue 6) 26:30 -- Set your goals 7) 30:41 -- Choose your farm location 8) 35:15 -- Figure out your financing 9) 43:00 -- Get your core team together 10) 46:42 -- Start looking for deals 11) 51:31 -- Get an estimate for the rehab (set budget) 12) 54:12 -- Run the numbers 13) 59:51 -- Review your numbers with someone 14) 1:02:15 -- Make the offer 15) 1:10:36 -- Negotiate the deal 16) 1:12:14 -- Manage the due diligence process 17) 1:15:50 -- Keep yourself organized 18) 1:17:11 -- Buy the property 19) 1:19:06 -- Manage the rehab or the property 20) 1:21:57 -- Stick close to Bigger Pockets for every step of the process
Nicholas, as a purveyor of “analysis paralysis “ I’m very interested if you have taken the step? Would love to hear a two year update? Thanks Man hope all is well!
I know Im randomly asking but does anybody know of a trick to get back into an Instagram account? I was stupid forgot my login password. I love any help you can give me
Congratulations Bigger Pockets!!! 200 episodes!!! Brandon and Josh thank you so much for the content you've made and given. Thank you for helping so many including myself on this journey.
just a newbie and entering retirement,,,,,,,I have heard from countless people saying "ya gotta get to bigger Pockets" You and your staff Rock....thanks for posting. i am stoked to get into the real estate for a passion to lead me through my Golden years..lol
You guys are really awesome! Love how extensively you provide solid information on the 'how and what' to do on your podcasts, always laced with humor and a genuine sense of wanting others to be successful. Thank you so much!!
Life changed here! Thank you guys, my closing is next week on my first rental. Your site is very informative and has helped me a lot. Ready for house two in the near future.
Hey Brian - Getting started myself and wanted to know if you could update us on your journey so far the first year in. The wife is kind of scared but we're pressing on despite that feeling. Some good experiences could help bolster her confidence in this :)
I'm looking to buy my first investment property early to mid 2018. I'm currently going to school full time for carpentry/construction and working nights at a factory. I've spent the last 2 weeks listening to audio books on real estate investing and BP podcasts while working. So basically my employer is, unbeknownst to them, paying me to get an education in real estate. Muahahaha. I've gained sooooo much knowledge so far from these podcasts. I'm very excited to jump in the game soon. Thank you for sharing your knowledge and experience with all of us!
Thank you for these resources!! I am a high school senior trying to figure out what my next steps will be to achieve the life I want. I have learned so much from this. Thank you!
Bigger pockets has really changed my life. I was already on the track of financial success but it was moving like a turtle because I was doing it the Dave Ramsey way , but only because Dave said so , I had to learn to think for myself , I rather take risk on my own meaning I rather take a chance on what I want to do and calculate my own risk then to do it the safe and less reward way on somebody else rules. Don’t get me wrong I’m still a Dave Ramsey huge supporter but when it come to real estate wealth I’m BP all the way. 💯💯💯💯💯 #DebtFreeTy
Just about finished reading David Greene's book on Real Estate Investing. Loving it! Is there a complete list of all you B.P. pods and their times? Were they all over an hour long? Are they all on You Tube? Thank you for all you good people do!
I found you after listening to a book in my car.. It recommended your podcast. ! Thank you for creating Bigger Pockets! I am addicted to the show...got my husband hooked too!! I appreciate you sharing all of your knowledge.
Great job, super informative keep doing what your doing. I am managing a property in California from Alaska and luckily I applied your tips without knowing about them. But now that I have this wealth of information my next purchase will be with flying colors! thanks!
High Five Guys!!! You guys are really real. You have given me loads of easy to follow information and advice. I am on the #10 on your list, so this is coming right on spot. Thank you guys!
Wow, the show notes for show #200 must be several pages! Great stuff, thanks so much. I'm heading there now to start downloading, lol. Thanks again for putting out so much information, it's good to hear from people who are experienced and want to share knowledge compared to people who have set up their 'system' and are selling their program. Very appreciated.
Congratulation guys, you guys are amazing. I listen to your shows here in Middle East (saudi Arabia) every Thursday. Please keep up excellent work and we appreciated more than you know. Ibrahim Guyo.
What is a PDF on your podcasts? Do you have any hard copies/hand outs on your pods? I spent too much time writing down EVERYTHING!!! Crib notes? Any requested paper notes on previous podcasts? I'd rather highlight the notes & sit through the pods. Thank you !
Best advice is to get your life in order. If you can't live within your means making 400 a week your more then likely not gonna live within your means if you make 1400. You don't need to have a lot of money to live comfortably, tons of people don't make a lot of money but are fine with it and spend wisely. It's all in the person.
thank you both for giving all of us all of this information. i am coming into this later in my life (i would love it if you would address this topic - everyone is not 30 :) ) i just finished reading the pdf from this program. and it is packed with valuable info. and so - thank you for helping us all. i am grateful that i have found this site :) i am going forth with you behind me. thank you so you so much for sharing your knowledge. xo
Brandon at 104:50 you say to make the offer even if they say no. How do you work with an agent that does not want to make a low ball offer? As I am typing I think the answer became clear. Don't use that agent, but find one that understands where I am coming from.
Would youninvest in an area that's 100% dependent on a specific condition? Like a small town surrounding a military installation, if the installation were to close the community would die. It's impossible to predict if the installation would ever be closed
Hey! I already know I should gain knowledge but what book? What course? What specific knowledge to go to walk on that path of success? What basics? How to read those numbers?
Gorgeous Happiness The Millionaire Next Door and the Millionaire Mind to get you in the right mindset on your path to wealth. And Millionaire Real Estate Investor getting started with Real Estate.
Hi, Guys, one of my good friends recommended your podcast to me and it was very informative and give me a lot of good directions to get started. I am a retired military person and I'm working as a Defense Contractor in the Middle East (UAE). I have a bit of additional income that I would like to start to establish a Real Estate Investing Portfolio. Can you recommend a playlist for Newbies In Real Estate Investing vs me fumbling through all your great podcasts?
I'm in central upstate New York and I want to check out this 95,000 duplex. But I can't without a pre approval letter. Feel bummed! I have a ft Walmart job which seems to be the kiss of death. What to do? I want so badly to move ahead!!!!
Due to the pandemic all over the world, many are in financial crisis now. So if you want to learn how to earn money from home, you should check out Mr Roberts @robertslarrison on Instagram.. I earned $12,000 within 4 days with an investment capital of $1000. All gratitude to Mr Robert @robertslarrison for helping me out of stress of money may God Almighty richly bless you @robertslarrison
David perez Me, self employed for over 20 years & on my 3rd house by myself. You have to keep simple records of your income and expenses (I still use a day timer and envelope / Manila files for my taxes and receipts), start filing a Schedule C and pay some self employment taxes! THIS YEAR, 2019. Do it! Name your business and you are “doing business as”. Mortgage companies need 2 years of tax returns. I’ve also always had a second w-2 job, too so I have extra taxes withheld from those checks to cover the self employment. That also adds to the total income. Oh, also, put ALL your income in an account, even cash from jobs. Get Squareup to process cards, much easier than card processing used to be. Hustle my friend, it’ll get you to your goals! Best of luck from sunny AZ,
I think a single home rental for beginners would be a good idea. I know nothing about investing and haven't even started my first deal so correct me if I'm wrong but wouldn't it be a lot easier to figure out your mistakes with a small experimental property that wouldn't be hard to get rid of if problems arise?
Hi! Im not sure what my best options would be. I’m completely new to real estate investing. I want to get into rentals/landlording. I’m from the Detroit area. I want to sell my home. It’s worth around 180,000 and it’s paid off. Im flexible on what I should move into. I don’t currently have a job but I plan to ASAP. I haven’t used my VA loan though I don’t think I have the credit right now to use it anyway. If I sell my home is there a good way to get into another place and be able to invest in rental property at the same time? My goal is to eventually do rental properties full time. Thanks
This is a good over-view. I have a step by step course that has hours of content, so in 1 hr you're going to get a decent overview but the devils in the details I tell my clients!! Thanks for sharing, this is a great resource for people to get their feet wet and start getting familiar with the steps!
I can't do that over youtube comments...but, you can click on my icon and go to my channel and see some free training videos - then opt into the facebook group! I'll be looking for you there :-)
I would do a bit of audio editing to get rid of those harsh "s" sounds. It's pretty bad. Like unbearable with headphones. Load it up in any DAW and just lower those high end frequencies or put a filter on it. Anyways thanks for all the videos man you guys are awesome!
I disagree with the mentality of not buying property where you wouldn't want to live. As long as there are people living in the area, someone will want to live in the house. A good deal is a good deal.
None of your fucking bussiness. I agree, I don’t want to live in a trailer but I know where you can buy decent trailer for under $2500, lot rent is 350, & the tenants are paying $750 to rent these trailers out. That a $400 cash flow .
I'm 34 years old, I have a home in tx that i own free in clear. It appraisers at 214k. I'm selling since I am now single and don't need such a big home. It's currently listed at 224k and should walk away with roughly 170-180k after all other debts paid off. I would like to purchase a significantly smaller home and invest the rest. I'm looking at roughly an 80k to live in for now. What would you do with the rest?
Don't sell. Get a line of credit on the property. 65% loan. Buy another property for 80000 and rent out the original property. Now take out another 65% line of credit on your 80000 dollar home and buy another rental. Tap into the equity of your residence and buy rentals.
If you haven't got any income in the first place how can the bank lend you money. They want to see income and want your personal income to support the paying bank of the mortgage
@biggerpockets I’d love to see/hear a breakdown of how you would determine the property mentioned at the 1 hour mark to be a bad investment. It would be great to see some of the things you look at, which might turn you away from an otherwise exciting investment.
5:00 -- Start of list
1) 5:23 -- Commitment
2) 8:28 -- Knowledge
3) 13:22 -- Get your life in order
4) 16:38 -- Decide what you want to do with your life
5) 21:20 -- Decide what real estate strategy you want to pursue
6) 26:30 -- Set your goals
7) 30:41 -- Choose your farm location
8) 35:15 -- Figure out your financing
9) 43:00 -- Get your core team together
10) 46:42 -- Start looking for deals
11) 51:31 -- Get an estimate for the rehab (set budget)
12) 54:12 -- Run the numbers
13) 59:51 -- Review your numbers with someone
14) 1:02:15 -- Make the offer
15) 1:10:36 -- Negotiate the deal
16) 1:12:14 -- Manage the due diligence process
17) 1:15:50 -- Keep yourself organized
18) 1:17:11 -- Buy the property
19) 1:19:06 -- Manage the rehab or the property
20) 1:21:57 -- Stick close to Bigger Pockets for every step of the process
Dienekes thank you, very well said
Omg thank you for this...i was dying the first 5mins....
MVP
Thank you
Not all hero’s wear capes
I clean pools 9 hours a day and listen to you guys all day!!! Talk about a beautiful paid education;)
Nicholas, as a purveyor of “analysis paralysis “ I’m very interested if you have taken the step? Would love to hear a two year update? Thanks Man hope all is well!
@@wecanchangetheworldchannel2215 Probably he OVERLOADED with the Podcast and Gave up 🤷♂️
I know Im randomly asking but does anybody know of a trick to get back into an Instagram account?
I was stupid forgot my login password. I love any help you can give me
@@wecanchangetheworldchannel2215 thanks so happy birthday and I love your time back so I hope your time works well q
Congratulations Bigger Pockets!!! 200 episodes!!! Brandon and Josh thank you so much for the content you've made and given. Thank you for helping so many including myself on this journey.
How is the journey going???
just a newbie and entering retirement,,,,,,,I have heard from countless people saying "ya gotta get to bigger Pockets" You and your staff Rock....thanks for posting. i am stoked to get into the real estate for a passion to lead me through my Golden years..lol
How is your journey going now that it's been 4 years?!?!
Im new here straying away from music an leaning on information mon thru fri ...changing my mindset and out look i like the new me thanks
You guys are really awesome! Love how extensively you provide solid information on the 'how and what' to do on your podcasts, always laced with humor and a genuine sense of wanting others to be successful. Thank you so much!!
Life changed here! Thank you guys, my closing is next week on my first rental. Your site is very informative and has helped me a lot. Ready for house two in the near future.
Brian Wingard just wanted to know your update on your rental how is it going? I'm very interested into doing rentals investment
Hey Brian - Getting started myself and wanted to know if you could update us on your journey so far the first year in. The wife is kind of scared but we're pressing on despite that feeling. Some good experiences could help bolster her confidence in this :)
Brian Wingard Morning
Brian Wingard what’s the update?? Want to hear your success story!
@@NinaInternational09 Did you ever take the leap into real estate?
These guys are the best! They're entertaining, educational, motivational, and realistic. Congrats on podcast 200!
I'm looking to buy my first investment property early to mid 2018. I'm currently going to school full time for carpentry/construction and working nights at a factory. I've spent the last 2 weeks listening to audio books on real estate investing and BP podcasts while working. So basically my employer is, unbeknownst to them, paying me to get an education in real estate. Muahahaha. I've gained sooooo much knowledge so far from these podcasts. I'm very excited to jump in the game soon. Thank you for sharing your knowledge and experience with all of us!
Eva Dees how did this work out for you ? I am looking to get started
I'm so glad I joined bigger pockets! It's so educational & informative, & I can't wait to start becoming a Real Estate investor!
Did you ever make the leap into real estate?
@@Chris-kq3ix prolly not
Thank you for these resources!! I am a high school senior trying to figure out what my next steps will be to achieve the life I want. I have learned so much from this.
Thank you!
Bigger pockets has really changed my life. I was already on the track of financial success but it was moving like a turtle because I was doing it the Dave Ramsey way , but only because Dave said so , I had to learn to think for myself , I rather take risk on my own meaning I rather take a chance on what I want to do and calculate my own risk then to do it the safe and less reward way on somebody else rules. Don’t get me wrong I’m still a Dave Ramsey huge supporter but when it come to real estate wealth I’m BP all the way. 💯💯💯💯💯 #DebtFreeTy
DebtFree Ty same here gazelle intensity kinda made me depressed
Awesome video. Useful information. Going to watch again.
Congrats Guys! Keep inspiring people and changing our lives!
I love the interviews, but this style is HUGELY valuable too.
Josh and Brandon, great show. I was amazed when my name was mentioned in the podcast. WOW! I feel special.
Just about finished reading David Greene's book on Real Estate Investing. Loving it! Is there a complete list of all you B.P. pods and their times? Were they all over an hour long? Are they all on You Tube? Thank you for all you good people do!
I found you after listening to a book in my car..
It recommended your podcast. ! Thank you for creating Bigger Pockets! I am addicted to the show...got my husband hooked too!! I appreciate you sharing all of your knowledge.
This video is amazing. Super informative. You guys are the push that I need. Don't stop doing what you do.
Great job, super informative keep doing what your doing. I am managing a property in California from Alaska and luckily I applied your tips without knowing about them. But now that I have this wealth of information my next purchase will be with flying colors! thanks!
High Five Guys!!! You guys are really real. You have given me loads of easy to follow information and advice. I am on the #10 on your list, so this is coming right on spot. Thank you guys!
You make a very good point of defining what success is to you.
Thanks so much am from Africa Gambia and i love your podcasts and lectures on real estate am interest in it .. am engineer by profession ..
Wow, the show notes for show #200 must be several pages! Great stuff, thanks so much.
I'm heading there now to start downloading, lol. Thanks again for putting out so much information, it's good to hear from people who are experienced and want to share knowledge compared to people who have set up their 'system' and are selling their program. Very appreciated.
Congrats on podcast # 200! I signed up to bigger pockets this week. Everyone has been real helpful so far.
Thanks guys. I watch 1-2 videos with ya'll today. Ya'll guys are great.
Where can I find out more about the different kinds of financing ‘tools’ you mention around 42mins?
I'm new to the community and you guys are absolutely wonderful thank you so much for what you do!
Rule number three got you a new sub ! tToo many people get on here and preach that you can be broke and still buy real estate.
new listener here, yall seem to really know what you're doing! looking forward to future episodes
Congratulations on show 200 and thanks for sharing so much great information!
Congratulation guys, you guys are amazing. I listen to your shows here in Middle East (saudi Arabia) every Thursday. Please keep up excellent work and we appreciated more than you know.
Ibrahim Guyo.
Ibrahim Guyo I am from Saudi Arabia too and iam interested to talk to some local investors.
What is real estate like there?
The Guy on the left is cool and should start his own show.
What is a PDF on your podcasts? Do you have any hard copies/hand outs on your pods? I spent too much time writing down EVERYTHING!!! Crib notes? Any requested paper notes on previous podcasts? I'd rather highlight the notes & sit through the pods. Thank you !
Best advice is to get your life in order. If you can't live within your means making 400 a week your more then likely not gonna live within your means if you make 1400. You don't need to have a lot of money to live comfortably, tons of people don't make a lot of money but are fine with it and spend wisely. It's all in the person.
thank you both for giving all of us all of this information. i am coming into this later in my life (i would love it if you would address this topic - everyone is not 30 :) ) i just finished reading the pdf from this program. and it is packed with valuable info. and so - thank you for helping us all. i am grateful that i have found this site :) i am going forth with you behind me. thank you so you so much for sharing your knowledge. xo
Brandon at 104:50 you say to make the offer even if they say no. How do you work with an agent that does not want to make a low ball offer? As I am typing I think the answer became clear. Don't use that agent, but find one that understands where I am coming from.
Is it better to start with open house visits before spending an agent's time until you're capitalized, credited and prequalified?
Just joined today and actually learned a lot.Thanks for the info
Would youninvest in an area that's 100% dependent on a specific condition? Like a small town surrounding a military installation, if the installation were to close the community would die. It's impossible to predict if the installation would ever be closed
I love the breakdown of this video. TY.
Very well presented..thank you for sharing your valuable knowledge.
Josh/Brandon you You guys great GOD BLESSED, GOOD HEALTH thank U
Thank you both for this info!!! You guys are both fn gods! Thank you!
I was looking for the book, Life and Air.
...The book that was recommended.
Who is the author?/
I couldn't find it.
Lauren Crawford It's called Lifeonaire by Steve Cook.
You guys are great! Thanks for all the info!
Man, I wish these guys would stay on topic.
PEB josh flys off a lot.
Agree
Same here ! Omg so much time wasting parts, not everyone has time to waste on nonsense but still thanks a lot for the info !
Its a single take, unedited format
Thank you for all the valuable information. I am new to investing and this is very helpful.
How's it going two years in? Still investing in real estate?
Hello guys , how do you check to verify the tenants rent ?
Hey! I already know I should gain knowledge but what book? What course? What specific knowledge to go to walk on that path of success? What basics? How to read those numbers?
Gorgeous Happiness The Millionaire Next Door and the Millionaire Mind to get you in the right mindset on your path to wealth. And Millionaire Real Estate Investor getting started with Real Estate.
Hopefully I make it!!
Hi, Guys, one of my good friends recommended your podcast to me and it was very informative and give me a lot of good directions to get started. I am a retired military person and I'm working as a Defense Contractor in the Middle East (UAE). I have a bit of additional income that I would like to start to establish a Real Estate Investing Portfolio. Can you recommend a playlist for Newbies In Real Estate Investing vs me fumbling through all your great podcasts?
I've been trying to find a local investor who is willing to mentor with and little did I know every one has no time to mentor.
I feel alive man .. thanks
I'm in central upstate New York and I want to check out this 95,000 duplex. But I can't without a pre approval letter. Feel bummed! I have a ft Walmart job which seems to be the kiss of death. What to do? I want so badly to move ahead!!!!
Due to the pandemic all over the world, many are in financial crisis now. So if you want to learn how to earn money from home, you should check out Mr Roberts @robertslarrison on Instagram.. I earned $12,000 within 4 days with an investment capital of $1000. All gratitude to Mr Robert @robertslarrison for helping me out of stress of money may God Almighty richly bless you @robertslarrison
Very valuable info!!! Thank you for sharing!!!
If only u knew how the term step-by-step excites me!
50ish Glam have you done any properties yet
Day by day
You guys are the Bomb
Another very informational video
Hi guys, thanks for all the information, I have a question. How do you do a blanket loan and how does it work?
How do you go about your approach when your asking an private investor for money?
I get a good laugh every single time dancing with the stars is mentioned in the videos! Hahaha
This was awesome. Thank you so much for the great information.
Love your show. You guys are definitely super hero's! 👍
Guys, can I ask about tips on forum where I can discuss about realestate?
The Bigger Pocket Pod is amazing I love this Chanel, I'm hearing you guys say go to the forum and ask questions? ok ok we're do I find this forum?
Nina Garner bigger pockets.com 😉
Wow someone finally help me thank you
Shout out to RI!
Solid video man. I know what to study next.
I'm self employed so I have no way to verify income...how can i get a mortgage loan or any type of loan for that matter?
David perez Me, self employed for over 20 years & on my 3rd house by myself. You have to keep simple records of your income and expenses (I still use a day timer and envelope / Manila files for my taxes and receipts), start filing a Schedule C and pay some self employment taxes! THIS YEAR, 2019. Do it! Name your business and you are “doing business as”. Mortgage companies need 2 years of tax returns. I’ve also always had a second w-2 job, too so I have extra taxes withheld from those checks to cover the self employment. That also adds to the total income. Oh, also, put ALL your income in an account, even cash from jobs. Get Squareup to process cards, much easier than card processing used to be. Hustle my friend, it’ll get you to your goals! Best of luck from sunny AZ,
@@danareynolds9350 I'm on it...thanks for the input and enjoy your day
Great content on this episode!! Thanks!!
I think a single home rental for beginners would be a good idea. I know nothing about investing and haven't even started my first deal so correct me if I'm wrong but wouldn't it be a lot easier to figure out your mistakes with a small experimental property that wouldn't be hard to get rid of if problems arise?
Generally, yes.
It really all depends on an individuals capacity to handle certain situations and being able to figure things out on the go.
Congrats on show #200!
Hi! Im not sure what my best options would be. I’m completely new to real estate investing. I want to get into rentals/landlording. I’m from the Detroit area. I want to sell my home. It’s worth around 180,000 and it’s paid off. Im flexible on what I should move into. I don’t currently have a job but I plan to ASAP. I haven’t used my VA loan though I don’t think I have the credit right now to use it anyway. If I sell my home is there a good way to get into another place and be able to invest in rental property at the same time? My goal is to eventually do rental properties full time. Thanks
Great !!
thank you for all the info i love your videos.
you guys are aweeeeesome. thankyou thankyou.
I payed for a real estate class now I am in debt trying to pay it off and started buying real estate when I do. what advice do you have for me ?
Is the dude on the right on prozac?
Awesome show!!!!
Great video 👍
You guys rock, so much info. God bless u.
Congrats on 200 !!
Miss these two 😪
I really enjoy listing and learning can you tell me where and how to get contracts
Awesome!!!!!
This is a good over-view. I have a step by step course that has hours of content, so in 1 hr you're going to get a decent overview but the devils in the details I tell my clients!! Thanks for sharing, this is a great resource for people to get their feet wet and start getting familiar with the steps!
AffordableREI. please send me info re your course thanks
AffordableREI I am very interested with your information as we please send me your info hairtlk_nina@yahoo.com
I can't do that over youtube comments...but, you can click on my icon and go to my channel and see some free training videos - then opt into the facebook group! I'll be looking for you there :-)
I would do a bit of audio editing to get rid of those harsh "s" sounds. It's pretty bad. Like unbearable with headphones. Load it up in any DAW and just lower those high end frequencies or put a filter on it. Anyways thanks for all the videos man you guys are awesome!
can someone please confirm the name of the book... i heard "Life on air"... but i could not find it...
watching fromtheside It's "Lifeonaire," like "millionaire.
Thanks for all of the amazing and free content/advice. You guys rock
Try this quote. "Do, or do not. There is no try" -yoda
Zachary Duke "only a sith deals in absolutes" Obi won.
Hmm... Obi wan was a Sith? Who knew?
i'll try to remember that
Zachary Duke Facts!
Yoda knows!
Great video
Really great
Is there a way for people with not so good credit to start buying real estate?
maybe, it depends on how much cash you have access to and your income.
thank you so much for this
I disagree with the mentality of not buying property where you wouldn't want to live. As long as there are people living in the area, someone will want to live in the house. A good deal is a good deal.
None of your fucking bussiness. I agree, I don’t want to live in a trailer but I know where you can buy decent trailer for under $2500, lot rent is 350, & the tenants are paying $750 to rent these trailers out. That a $400 cash flow .
I'm pretty sure they only really mean that on a safety level.
Thanks
I'm 34 years old, I have a home in tx that i own free in clear. It appraisers at 214k. I'm selling since I am now single and don't need such a big home. It's currently listed at 224k and should walk away with roughly 170-180k after all other debts paid off. I would like to purchase a significantly smaller home and invest the rest. I'm looking at roughly an 80k to live in for now. What would you do with the rest?
mike g buy a few rentals properties
Don't sell. Get a line of credit on the property. 65% loan. Buy another property for 80000 and rent out the original property. Now take out another 65% line of credit on your 80000 dollar home and buy another rental.
Tap into the equity of your residence and buy rentals.
Hi BP,
May you please keep it simple for me how seller finance works?
If you haven't got any income in the first place how can the bank lend you money. They want to see income and want your personal income to support the paying bank of the mortgage
Oceans find hard money lenders 🤷🏻♂️no need to always go to the banks.
Bill Nye does real estate?
@biggerpockets I’d love to see/hear a breakdown of how you would determine the property mentioned at the 1 hour mark to be a bad investment.
It would be great to see some of the things you look at, which might turn you away from an otherwise exciting investment.