Looking For A Mentor/Partner

[Paul Kociara]

Good afternoon!

I am looking for a Mentor/Partner to help me with my Real Estate journey.  I have been doing some research both online, in books, podcasts, looking at homes and putting them in the Bigger Pockets systems.

I am ready to Take Action, but I am looking for someone that is willing help/guide me, while letting me help them in any way I can (including working for them if needed).

Thank you,

-Paul

[Randall Alan]

@Paul Kociara

Hi Paul,

One thing that might be helpful is to know what direction you are looking to head in real estate.  We all know 'something' on these boards, but many of us are better in one direction than another.  I'm mostly into rentals in Central Florida, with about 37 in our portfolio, but have also done a half dozen flips as well.  Would be happy to discuss things with you on / off line if that is a direction you are looking.  

The funny thing is, as you are ready to take action, the majority of the real estate world is ready to sit put... which is to say that the last 12-18 months has seen real estate prices go up, along with interest rates.  It is a bad combination.  

It doesn't mean you can't be looking, but my best advice to you is to only do a deal that makes financial sense.  While you can always re-fi a high rate back down later, the problem with that is that it will cost you $3,000 - $5,000 on a typical small / medium size house to do so.  That's probably 2 - 3 years of mortgage payment pay downs you would give up to refinance; which begs the question - "Why should I buy now?"  If properties were cheap and you thought there was going to be good appreciation in the near term it might make sense... but with the Fed's interest rates, they are working to drive housing prices back down... with little success from what I can see so far.  If you can find a good cash-flowing deal it might make sense to buy now... but they are definitely few and far between right now when I run the numbers.  What I think you will mostly find is that the $200-$400 you want to rely on in the profit column to justify buying a property is sitting over in the interest column of your spreadsheet costing you money instead. 

I would be happy to meet up for 'coffee' and kick around the topic.  If interested just reach out.

Randy