Real Estate Thread

[Mtt]

I used to work in Trenton not too far from the State House, rough area. How often do they meet? Are they still active at this time?

you can try meetup . com look for real estate groups in your area

 

[Amerikan Melanin]

I used to work in Trenton not too far from the State House, rough area. How often do they meet? Are they still active at this time?

nah they aren’t active now. They meet monthly. I found them on meetup. Trenton real estate investors meetup.

 

[Yinny]

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[Yinny]

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[Amerikan Melanin]

They include builders/construction pros/contractors? Are you mainly hobbyists or part time landlords, how large is the group?

fam. The dude who leads it is a multi millionaire investor. Group is about 20 - 30 deep. Some people just starting up like myself, others decades deep.

 

[Yinny]

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[Rawtid]

have you explored real estate wholesaling where You get to find a real estate property for sale at a lower price than it is actually worth, put it under a contract, and then sell it to another real estate investor or homeowner. You can go on youtube and listen to podcasts . im currently listening to several brothers doing it but I haven't dove into yet but i give myself a moment listen maybe ill join a group or course. technically ,you can do it on your own especially you know the real estate world. just my 2cents

Sorry for the delayed response. I know two guys that do that, but it's not my goal with how I want to be involved in real estate. I was licensed when I purchased my home (technically my only purchase) and it was just a bogus process. $400 "loan origination fee"...Like I literally paid a fee to borrow money from the bank There were some other things I didn't like about the entire process, so I think owner financing would give me the power to change some of that.

 

[Mtt]

Sorry for the delayed response. I know two guys that do that, but it's not my goal with how I want to be involved in real estate. I was licensed when I purchased my home (technically my only purchase) and it was just a bogus process. $400 "loan origination fee"...Like I literally paid a fee to borrow money from the bank There were some other things I didn't like about the entire process, so I think owner financing would give me the power to change some of that.

hey man keep it going bro no matter how you approach real estate , i salute your efforts in making money work for you.

 

[Yinny]

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[Warren Moon]

Damn, so you lost like $715/mo? That sucks. That's why I want Real Estate to be part of my ultimate portfolio (hopefully), but I don't want to flip or be a landlord. I've been researching owner financing, which is like being a landlord, but you don't own it, just collect mortgage. Also want to focus on condos on homes you can turn into a duplex/coop. Smaller spaces mean less expensive updates and a co-op situation means double the payments. I still have a lot to learn about it and I'm still broke, but in my head it sounds good.

Yeah around that much. Towards the end, those interest payments pile up and you need to make a decision and cut your losses or hang on a few more months to break even, possibly profit or lose more money. I decided to cut my losses and take the L.

looking back I would of changed a few things.

1. Tried to find my own renovation. That program limits your risk, but also limits your upside. I’m glad I went through the process from a learning perspective but I should of taken more risk.

2. put more money in. I chose a cheaper buy that had a potential profit margin, but not a lot 5-15k. I would of gone bigger probably. The more profit you can make, the more leeway you actually have to make mistakes.

 

[Astroslik]

Anyone own a apartment complex?

 

[Yinny]

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[Amerikan Melanin]

Anyone own property in Tallahassee or Jacksonville? I see a couple of interesting apartment buildings in those areas.

 

[Yinny]

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[Yinny]

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