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Updated over 2 years ago, 03/30/2022
Single mom of 4 and nurse looking to get started!
Hi all! I signed up tp bigger pockets and was given the homework of posting my introduction! My name is Emily Lopez. I am a 29 year old single mom of 4 kids who is also a Licensed Vocational Nurse. I reside in Eagle Pass, Tx, which is two and a half hours south of San Antonio. I have been binging on the BIGGER POCKETS Podcast and am obsessed! I've been doing my due diligence and researching properties locally. Any tips, tricks, messages etc. is encouraged and welcome!
Hey there @Emily Lopez, congrats on finding BP and kudos to you being a nurse AND a single mom of 4!
In order to try and help, what are your goals and/or what are you looking to do? Are you looking to buy your first property? House Hack? Wholesale? Etc..?
Quote from @Chris Allen:
Hey there @Emily Lopez, congrats on finding BP and kudos to you being a nurse AND a single mom of 4!
In order to try and help, what are your goals and/or what are you looking to do? Are you looking to buy your first property? House Hack? Wholesale? Etc..?
Hi!! I’m looking to get started. I haven’t found my niche yet. I’m interested in wholesale, and multi family properties. I am also very interested in rehab!
#3 Buying & Selling Real Estate Contributor
- Investor
- Las Vegas, NV
If you already own your home and have space, find another nurse to move in and pay rent. If you own and don’t have space, buy a new bigger space as a primary with 5-20% down (sell current primary only if you have to for DP.) then find other nurses/co-workers to rent rooms. If you don’t currently own find a primary home you can afford and start renting out extra space to other nurses. A simple $500+/mo from one renter will be life changing. 2-3 will set you up as if you had a good paying 2nd job and enable you to buy a new primary next year.
Quote from @Bill B.:
If you already own your home and have space, find another nurse to move in and pay rent. If you own and do have space, buy a new bigger space as a primary with 5-20% down (sell current primary only if you have to for DP.) then find other nurses/co-workers to rent rooms. If you don’t currently own find a primary home you can afford and start renting out extra space to other nurses. A simple $500+/mo from one renter will be life changing. 2-3 will set you up as if you had a good paying 2nd job and enable you to buy a new primary next year.
I currently don’t own! I’ve been looking into a lot big bough to place a double wide and build my future home while paying down the double wide. I feel I can then purchase a lot and place the double wide in that lot for rent or possibly sell. I’m unsure if this is a good way to start but that’s where I’m at so far! Thank you for your input!
Welcome; we had an informal meet up for Eagle Pass / Del Rio area pre pandemic. Feel free to reach out if we can assist in our area.
Quote from @David Valadez:
Welcome; we had an informal meet up for Eagle Pass / Del Rio area pre pandemic. Feel free to reach out if we can assist in our area.
My sister and BIL had moved a manufactured home onto some land and did what you mentioned, renting out the mobile home and now selling it with half of the land. It has worked well for their specific situation and has been comfortable for them, but most of the value has come from the land appreciation. So it "CAN" be a way to start, and could certainly make you money down the road; but it likely wouldn't bring you any "return" or decrease your living cost significantly.
But I would say that regardless of what advice you get here, you need to balance that with what is best for you and your kids. We could tell you to buy a house or a duplex, rent out bedrooms/units, and get started that way; but if that is not something you and your kids would be comfortable with; I think your idea of land and a mobile home is an affordable way to get started.
As far as moving forward, I would really start to network, go to meet-up's, educate, and really dial in what your goals are.
-Are you wanting to quit nursing altogether and willing to be active in another form of income? (Wholesale/flip/Agent,AirBNB/Co-Host/Arbitrage)
- Are you just wanting to invest what you can, grow steadily and have something to retire on in 20yr and pass down to your kids? (Single Family/Multi Family rentals/BRRRR/etc..)
- Are you wanting to do something "bigger", replace nursing? (Commercial/Large Multi/Syndication/etc...)
@Emily Lopez both places. Welcome to the journey, always encouraging to see others joining the RE venture.
#2 Mobile Home Park Investing Contributor
- San Antonio, TX
Quote from @Emily Lopez:
Quote from @Bill B.:
If you already own your home and have space, find another nurse to move in and pay rent. If you own and do have space, buy a new bigger space as a primary with 5-20% down (sell current primary only if you have to for DP.) then find other nurses/co-workers to rent rooms. If you don’t currently own find a primary home you can afford and start renting out extra space to other nurses. A simple $500+/mo from one renter will be life changing. 2-3 will set you up as if you had a good paying 2nd job and enable you to buy a new primary next year.
I currently don’t own! I’ve been looking into a lot big bough to place a double wide and build my future home while paying down the double wide. I feel I can then purchase a lot and place the double wide in that lot for rent or possibly sell. I’m unsure if this is a good way to start but that’s where I’m at so far! Thank you for your input!
This is an option as long as you get zoning for the manufactured home. I've seen this done among homeowners including investors many times before. Best of luck with your plans!
Welcome to Bigger Pockets!
If you are looking to invest into real estate, I have found this site to be incredibly helpful.
There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides
I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts
#5 New Member Introductions Contributor
- Specialist
- West Palm Beach, FL
- 1,423
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#5 New Member Introductions Contributor
- Specialist
- West Palm Beach, FL
Glad to have you in the community, Emily! You came to the right place to learn more about real estate investing!
Quote from @Julio Gonzalez:
Glad to have you in the community, Emily! You came to the right place to learn more about real estate investing!
Thank you so much!
