@CollegeCrosse is getting read to buy a first home.
Here's my advise:
- Find the best first time buyer lending products available to you. Start with local credit unions.
- Know what your credit is:get your three free credit reports. Just to be sure. - Know the plan. The best play is to house hack: rent a portion of your home out but if you don't want to do that
Consider buying a home that you can improve and either rent out after you move/upgrade OR flip after living in the home long enough to waive capital gains tax
and..

Let's talk about
high cash flow
and prospecting
This turn key 2 unit is in
a D class area St Louis City
$95000 Tenants pay total 1775/mo
Let's look at the numbers
using conventional financing:

Let's talk about BRRR

Buy
Rehab
Rent
Refi

and why it is a great wealth building tool
when you work it well 👇 When optimally executed you will start
- A distressed property
- Purchased with your cash &/or private funds

and end with
- A renovated property
- Leased at top dollar
- Refinanced to at least recoup all your funds &
at most to put more money in your pocket for the next

So-

New client on boarding:
- Lives in California
- Has done 4 BRRR deals in two cities
- Entering a 3rd market to spread risk
- Using hard money and private lending
Three of the four deals went well; one was a dog she would not buy knowing what she knows now.

Just quit her FT job. This takes nerve. Analysis paralysis real.

No risk, no reward.

She researches diligently online.
Starts with finding the contractor in the market.
Then moves to the Realtor (got me on Zillow)
Focused on multi unit property and superficial (non gut)renovation work.

3 weeks into my Mom's hospital stay, the idea that we have an existing & growing crisis of care and housing for the elderly is now more real.
My siblings & I are spending hours in advocacy, and still
there are mistakes being made ranging from minor to devastating... And this is in a nationally ranked hospital.

My observations so far:
- I'm convinced Covid visitor policies result in a net loss
- The rights of families and patients are concealed &
therefore regularly denied.

On Sundays I mentor my 18 year old HS Senior. Because I've done my job, he lives fairly independently but we are notching up regularly. Today he: - Shopped auto insurance as he will be taking over responsibility for that next month.
- Set up an Acorn account to start investing a bit
- Applied for more scholarship
He is going to college but with a purpose, no student loans, and a capped contribution from us.

#30DaysofThreads
Buying your first property for real estate investors
& money masters Rule #1:
Take advantage of any and all first time home buyer
financing or assistance programs. This varies by communities & your qualifications but you do not want to miss out on something for lack of doing your homework.
Start looking asap.

Income property buyers use different short hand quick formulas when pre-screening a deal. One of the most common is Cap Rate (Capitalization Rate) Cap Rate =
Net Operating Income/
The current value of asset
For real estate acquisitions this means your total cost of acquisition plus rehab/repair expenses (if applicable)

I just got this deal in my inbox today
$14000 with a tenant at $650/mo This 2 bedroom 1 bath house is in St Louis County Mo. I don't see 'em quite this cheap everyday...but it happens.

I said I would walk this deal...and here is the story.

https://twitter.com/standupagent/status/1112484104317140994

You gotta turn over a lot of rocks when you hunt #realestate deals and things are almost always better or worse deals than presented.

This is a staged living room at an unoccupied real estate listing.
Pricing for attractive furnishings in 2 rooms plus kitchen & bath accessories starts at $1500 for 90 days. ... thread You read it right: $1500 plus.
Staged listings are proven to sell for a higher price and with fewer days on market. So it usually pays to stage and it is a high demand service.

2008. The big housing crash.

I was broke thanks to my (deadbeat) ex- husband.

I had:
Experience in Real Estate
3 small kids to support

& got myself a
Real Estate license to earn.

My colleagues didn't understand why I was selling houses like this: People were upside down in their homes.

Lenders were denying loans.

And Realtors were conducting business like nothing had changed.

I had to earn.
I had experience with doing flips.
I knew the RE investing world.
And this new market was for the cash vultures.

The Four Agreements For Anyone Who is in Sales
(Basically everyone): 1) Be impeccable with your word.

Always be transparent and under promise, over deliver.

I sold this house today for $7000
My commission? 18% or $1250
My time invested? About 3 hours
Money on delegated tasks?
(Inc. photos) $210
The buyer will invest around 30k total and rent this for 800-850/mo
It will be worth 50k Not the most exciting money but this is one of several houses I am doing for this client.

Fewer clients = less work

I don't do cheap one offs 😉

My Dad died one year ago today.  He was 91 years old.  It was my honor to spend his last night on earth by his side. He was born in rural Cuba in 1926. He once said: "You'd never last day in my village."  The oldest of 12, he was only 5 when he started working on his family's farm.  He didn't go to school until he was 9.

Sold a house to a
20 something client today:
$90k sale price
Rehab loan $35k
After repair value: $185k
She will live there for 2 years
and do it again;plans to
lease it as air bnb.
This is a great way to buy
real estate in your 20s. Next level: Getting a roommate to cover half the mortgage.