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All Forum Posts by: Lucero Sanchez

Lucero Sanchez has started 14 posts and replied 146 times.

Post: 40 E-mails, 5 RSVP's, 0 Actually Show

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37

I don't answer to emails or text, potential tenants need to speak to me by phone, I than tell them to drive by the property and if they are still intersted to give me a call to set an appointment, I than make the appointments all the same day and usually 3 out of 5 show.

Wishing you success;) 

Post: How to get into flipping without any money (without hookups)?

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37

I suggest you read "Secrets of the Millionaire Mind" by T. Harvey Eker

I you already read it I suggest you read it again. ;)

Post: How to get into flipping without any money (without hookups)?

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37

oh yes and in this business you need to have patience, it takes time to become successful. 

Post: How to get into flipping without any money (without hookups)?

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37

Well if you own a house and it has equity you can sell it use the equity to get into a fix and flip wait a couple of years while you fix it (to avoid capitol gain) than sell it and repeat the process until you make your capitol grow.

Or look into becoming a whole seller first and you can take it from their. 

If you want to become a real estate investor you need some money to work your way up.

I wish you good luck ;) 

Post: Anyone every build new?

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37
Originally posted by @Manolo D.:

@Lucero Sanchez I assume you paid for everything cash, don't have a GC license, and all insurances associated with it, you probably didn't even document the whole thing, i hope you pulled the permit and all that. The bad thing is, lenders MIGHT see you as a risk (not a lender), due to the undocumented build, I do hope they will give you some credits for it. Here is from a legal view, you built a house, and you don't have workman's comp, that will only mean that you and your husband is the ONLY ones doing the work, which is unbelievable or close to impossible. You can take a loan 75% of your house, then use the funds to start building, now IF you are unsuccessful, that will mean you lose both houses. Try to see if you have the home-builder option, but that will mean you will have to live IN the house a year or two after it is built. I could not imagine it in any other way. Good luck.

 Oh yes I forgot to mention I do have all the receipts and all the names and company names that we used to buy lumber, roof tile kitchen cabinets and all that stuff so I guess I did kind off document all material and labor ") 

Post: Anyone every build new?

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37
Originally posted by @Manolo D.:

@Lucero Sanchez I assume you paid for everything cash, don't have a GC license, and all insurances associated with it, you probably didn't even document the whole thing, i hope you pulled the permit and all that. The bad thing is, lenders MIGHT see you as a risk (not a lender), due to the undocumented build, I do hope they will give you some credits for it. Here is from a legal view, you built a house, and you don't have workman's comp, that will only mean that you and your husband is the ONLY ones doing the work, which is unbelievable or close to impossible. You can take a loan 75% of your house, then use the funds to start building, now IF you are unsuccessful, that will mean you lose both houses. Try to see if you have the home-builder option, but that will mean you will have to live IN the house a year or two after it is built. I could not imagine it in any other way. Good luck.

 Hi, Manolo like I mentioned before we built the house in 2008 and since than we have learned a lot like workmens comp insurance and all that good stuff so we are prepared for that in this new project. The house we built in 2008 was not just built by my husband and I if you read my post I did mention that we gathered all the workers, we did simple things like sheet rock painting and since my husband is an HVAC tech he did all the AC work and yes Manolo we did get city permits they came and inspected the house every time we finished something in the house, everything passed inspection and we lived in it for 3 years that house was sold in 2011 and the money we made from the sell we have since made it grow even bigger in RE so now armed with capitol and all the knowledge we have absorbed through out all this time in RE we are ready for a bigger challange. 

What we want is for people to see that even if you don't know much or have much money but you badly want it and are not scared then you take the RISK you put all your strength and the little you know into it, that is a leap that we chose to take and it was totally with it.

I wish you success ;) 

Post: New member from California

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37

Oh almost forgot, please ad a pic to your profile, we would like to see who we are talking to. ")

Post: New member from California

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37

Welcome to BP. 

What you are doing right now, saving money and setting a goal that's exactly how you start. It takes patients and determination to make it to the top. 

Once you accomplish one goal set another and another making sure each one is a realistic goal ") just take it one step at a time.

That's how it's done.

Wishing you success;) 

Post: Excited!

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37

Welcome to BP, anything is possible if you are determined.

Wishing you success;) 

Post: 21 years old first time buy and hold, how should I start?

Lucero SanchezPosted
  • Contractor
  • Queen Creek, AZ
  • Posts 155
  • Votes 37
Originally posted by @Justin Dixon:

@Becca Summers I really like that plan you have used to invest in single family homes, my only question I have is did you and your husband already own a home before moving into your potential SFH rental? If so was the home you left to stay in the new SFH paid off? Or were you now paying a mortgage for both homes?

Become a live in flipper, you buy your first home a fixer upper (out dated ugly, but still good for an FHA loan), fix it while you live in it for about 2 to 3 years, now you have increased the equity/value, sell it cash out the equity get your next fixer upper put down only the minimum for the down payment, live in it for 2 or 3 years fixing it as you go and repeat, you are now making your "snowball" of money bigger. That's how you can start. In this business it's all about patience.

Wishing you success;)