How to break into the real estate field

List of Forums + New Post Recipe Box Usergroups Following Log in

Join Now

| | | | |

1, 2, 3 Next Last >>

Forum -> Inquiries & Offers -> Lakewood, Toms River & Jackson related Inquiries

View latest: 24h 48h 72h

amother

Sun, Feb 26 2023, 4:52 pm

Syndication etc.
so many Lakewood people seem to be ultra wealthy from this field. I’d love to know how to break in…

amother

Crystal

Sun, Feb 26 2023, 5:33 pm

amother OP wrote:

Syndication etc.
so many Lakewood people seem to be ultra wealthy from this field. I’d love to know how to break in…

Now is prob not the best time…you need a large amount of money…or an investor…or take a mortgage out on your house but it’s really not advisable now…

amother

Sun, Feb 26 2023, 5:37 pm

amother Crystal wrote:

Now is prob not the best time…you need a large amount of money…or an investor…or take a mortgage out on your house but it’s really not advisable now…

I won’t be doing that until interest rates lower. But these are young guys in their 20s and 30s. Where did they get so muchcapital from to start with?

amother

Pear

Sun, Feb 26 2023, 6:02 pm

amother OP wrote:

I won’t be doing that until interest rates lower. But these are young guys in their 20s and 30s. Where did they get so muchcapital from to start with?

You or your husband?

As a women in a mostly male dominated field I'll bust a few myths.

First of it you have to learn the ropes know the basics of CRE, Due Diligence, Underwriting, Mortgage options. You don't have to do it all you can outsource but it is always best to know what you are dealing with.

Second of all, the guys that made it big in their 20s and 30s did it all in the last 2 years when the market was INSANE. They bought at very high PP their loans were all 3% with floating interest rates and they generally have wealthy family member/s or connections who trust them and invest in them.

Now fast forward to today and how the properties are doing with the IR at 7% or higher is a separate story.

In a nutshell learn CRE and find someone who can and would invest in you.

One more point banks generally don't give commercial loans on new buyers you would need an experienced RE guy to co-sign.

amother

Aconite

Sun, Feb 26 2023, 6:03 pm

amother OP wrote:

I won’t be doing that until interest rates lower. But these are young guys in their 20s and 30s. Where did they get so muchcapital from to start with?

now's the time to learn learn, gain knowledge, there are courses out there..
you don't need money if you get investors to invest in your deals, but you need to know what you are doing...

amother

Wheat

Sun, Feb 26 2023, 6:03 pm

amother OP wrote:

I won’t be doing that until interest rates lower. But these are young guys in their 20s and 30s. Where did they get so muchcapital from to start with?

They got their capital from Totty. Lol.

STovah

Sun, Feb 26 2023, 6:13 pm

Echoing what earlier posters have said, now’s the time to learn the industry. You can learn a lot on the job working in asset management. The business model of buy, add some value, refinance or sell and repeat that worked for the last 10+ years of record low interest rates will be tougher to pull off. It’ll be interesting to see how the syndicators pivot.

sarandipity101

Sun, Feb 26 2023, 6:16 pm

Op, are you looking to syndicate or are you looking to find deals and invest?

amother

Sun, Feb 26 2023, 6:17 pm

What’s a good course to learn?

sarandipity101

Sun, Feb 26 2023, 6:18 pm

amother OP wrote:

What’s a good course to learn?

The owners class.

amother

Sun, Feb 26 2023, 6:18 pm

sarandipity101 wrote:

Op, are you looking to syndicate or are you looking to find deals and invest?

Both
It seems the very wealthy guys are doing the syndication not just investing. Is that right?

amother

Sun, Feb 26 2023, 6:19 pm

sarandipity101 wrote:

The owners class.

Any others? The owners class is a newer one.

sarandipity101

Sun, Feb 26 2023, 6:19 pm

amother OP wrote:

Both
It seems the very wealthy guys are doing the syndication not just investing. Is that right?

No. Some have partners who just deal with syndication. Its 2 different skills. One has knowledge about real estate and one knows how to find people with funds to fund the deals.

amother

Sun, Feb 26 2023, 6:20 pm

sarandipity101 wrote:

No. Some have partners who just deal with syndication. Its 2 different skills. One has knowledge about real estate and one knows how to find people with funds to fund the deals.

The second one seems a lot easier

sarandipity101

Sun, Feb 26 2023, 6:21 pm

amother OP wrote:

Any others? The owners class is a newer one.

I dont know of any others, but Ive taken the owners class and highly recommend it.

amother

Sun, Feb 26 2023, 6:21 pm

Is it possible to start with a modest sum and build up high wealth? Is that possible by passive investing or only by syndicating one’s own deals?

sarandipity101

Sun, Feb 26 2023, 6:22 pm

amother OP wrote:

The second one seems a lot easier

Haha I beg to differ. I have lots of properties but have a hard time finding funds to fund them.

amother

Vanilla

Sun, Feb 26 2023, 6:22 pm

amother Wheat wrote:

They got their capital from Totty. Lol.

Jealousy much? We saved up to buy a small piece of RE with our hard earned money. It took years of sweat, so thanks for your assumptions.
I actually know many people who did like we did, nothing to do with their Totty.

sarandipity101

Sun, Feb 26 2023, 6:23 pm

amother OP wrote:

Is it possible to start with a modest sum and build up high wealth? Is that possible by passive investing or only by syndicating one’s own deals?

Both definitely bring wealth. Many people prefer passive investing due to time constraint in managing the deals.

amother

Sun, Feb 26 2023, 6:25 pm

sarandipity101 wrote:

Both definitely bring wealth. Many people prefer passive investing due to time constraint in managing the deals.

Obviously that’s a lot easier… more passive… but can it really build wealth?

All the young millionaires are probably the syndicators not passive investors.

They all make it seem so easy

Page 1 of 3

1, 2, 3 Next Last >>