Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago on . Most recent reply

User Stats

58
Posts
20
Votes
Luis Prieto
20
Votes |
58
Posts

New to real estate, would like advice

Luis Prieto
Posted

Hi guys/gals. I have been reading many posts ofln this site for some time, and have found them very informative. With that said, I would like to introduce myself. My name is Luis Prieto. I am 29 years old and live in rural North Central Washington State. My wife and I got married 4 years ago, and bought our first home. About 2 years ago, I decided to quit my job operating heavy equipment, and decided to go to school. The birth of my son made me question my goals, as I don't want to work 55-60 hours a week. Since then, we have been living on my wife's salary of about 50k. We live comfortably mainly because we have no bills, and we live in an inexpensive place. 6 months ago, my wife and I were able to buy another house. We rented our first home, and currently we are set to close on our first foreclosure. We financed ourselves for this foreclosure with a personal loan of 45k. This foreclosure is in excellent condition, as it only needs a sink, new countertops, and appliances. We had a builder that we know and trust inspect it and said that it is in great condition. We plan to refinance in 6 months, and after a year sell it, since it's a Fanny Mae home. Also, I plan to start working within a year, so our income could potentially double. Do any of y'all more experienced investors have any recommendations bases on our circumstances. I would love to learn as much as I can from y'all. Thanks.

Most Popular Reply

User Stats

1,018
Posts
328
Votes
Dan Barli
  • Attorney
  • Clifton, NJ
328
Votes |
1,018
Posts
Dan Barli
  • Attorney
  • Clifton, NJ
Replied

Are you looking to use some of your equity to acquire some cash-flowing properties? Where are some hotter markets you are seeking to get into? 

Loading replies...