New Member Richard Nash

[Richard Nash]

My name is Richard Nash, I have 300 properties.

Ok, well not yet. I am brand new into real estate investing. A little bit about me:

I am living in Meridian, Idaho. I am actually renting a house still with a roommate. I got started into real estate investing when my mother coaxed me into going to one of those free 2 hour seminar "guru" courses. It was called flipping formula if anyone is familiar with that. I got super excited and spent $1K on their 3 day course. In that course they taught a lot. I was actually pretty impressed. I took a lot of notes and was eager to get out there and go!

Reality hit me when they asked for 30K (40?) I can't remember. It was much more than I was willing to shell out to get their little mentor. I set out to tackle the world. I set up my LLC (Tablerock REI). I then got ahold of the hard money lender they hooked me up with (recashsource). And then we got slammed at my job and I had to put this on hold.

We have now slowed down and I now have told myself that hell or high water, investing is not going on hold again. I have met up with a realtor who I actually met off of here at bigger pockets. I'm still trying to find a diecent contractor. From what the podcasts say, this will not be an easy task. Since I have a desk job, I sit and just listen to podcasts while I work. It is great!

I tried to land my first deal in Nampa, I got all the comps, the house would probably go around 65K, they were asking 39. I went through and got a contractor's estimate then took it home and crunched the numbers farther (his were way high). The numbers came out to around 30K for rehab. Combined with the loan origination fees and everything else, I was looking at a 10K offer. I decided to pass on this property. If that is the wrong decision please let me know.

That's about all I have to say about myself. I am interested in flipping/lease options mainly. I know it is going to be a tough road ahead, but I have always been interested in houses. I wanted to be an architect until I saw how much school they needed. I currently work at an engineering firm designing HVAC/Plumbing systems. Despite the amount of work I know is coming up, I think I will really like the new challenge.