All Forum Posts by: Adaora Nwogbo

Thanks alot for the welcome and also the resources. Appreciated Dmitriy and Justin

Thanks Dawn that makes sense. Im now looking into articles as I read which goes more in depth into financing with personal experiences mentioned also. The resources are amazing i just need to locate them

Thanks Brad and Nick that is the guideline I am currently using appreciated.

I started reading the First-Time Home Buyer Guide and I wanted to ask a question. When it comes to getting ready on the financial side for a home purchase Mindy Jensen says ''You'll want to have more than "just enough scraped together" for the down payment''. When investing in real estate would you consider your IRA and retirement plans as financing funds or is it best to look at other ways to gain funds either through creative financing or using standard saving methods. Im just in the first chapter she might talk about this later but i would like to get some opinions about how some investors approached their first home purchase and also around the topic 'Should and IRA and retirement plans be considered for use for financing? Thanks

Thank you Andrew

Hi my name is Adaora Nwogbo i live in Arlington Texas and for occupation I am a Broker (Trader) at a brokerage firm. I am a new investor to real estate and the reason it captured my interest is because my mom encouraged me to venture into it. She currently is an investor herself but most of her properties are in Nigeria and she is breaking into the American market so she gave me the push also. I heard about Bigger Pockets through one of the Real Estate Investing Group in my area IMPACT while i was researching. I had no idea how to start so the co organizer encouraged i start with Bigger Pockets. Here i am.

I am interested into looking at multifamily units in the DFW area (looking closer into the Fort Worth area) and I want to adopt the buy and hold strategy. My time frame to buy a property is 1-2years as I want to do a conventional loan for my first property and still saving for the 20% down payment using an average median of  house prices around the area as my saving goals.

I started watching some webinars and soon after started to try and analyze deals using Realtor.com first. I realized i was dealing with generalized numbers and not truly going in depth. So I read the 'The Ultimate Beginner’s Guide
to Real Estate Investing' and it helped me realize that i had to narrow down my niche and look at specific criterias that would better help me analyze deals by doing research into them.

I am currently in the education phase and will be looking to read the 'First Time Home Buyer's Guide' next. Some of the moderators post step by step points with links on how to get the most out of Bigger Pockets as a new investor.

I was honestly quite overwhelmed because i felt like i had to reach a certain level of knowledge before posting to make myself more credible but i decided against that and just wanted to post an introduction. I am quite excited to be part of this movement in realizing financial freedom or any other personal goals and looking to set a realistic routine for myself for motivation purposes. Thank you Bigger Pockets for the opportunity to learn, grow and network.

I see ill look into that ive only done 4 so far (with the generalized approach) the goal is 100. So the tips are helpful.I'll try and be more engaging in theses forums. Thanks for taking out the time to respond. Appreciated 

Hi guys i wanted to get some insight on analyzing properties. I know you've all heard this a million times but I am also a newer member to the Bigger Pocket platform. I am still in the learning phase ( YT, webinars, books etc) and i have a time frame of next year to buy a house. I am looking around the 180-200k with 20% down payment in the Fort Worth TX region, this is just giving some backstory. Currently I have started analyzing some properties using Realtor.com (will look into Redfin) like Brandon discuss in the webinars and on Youtube. I am using generalized numbers though like closing cost at $4000, vacancy, cap ex, repairs at 5% and insurance at $100. Using rentometer i plug in the median rent prices and use the property tax info provided also then finalize the analysis to see the cash on cash ROI. This takes me about 5-10 minutes to do and i believe its because my numbers are generalized (looking at single family unit with the assumption that tenant covers utilities for the time being). I would like to get some suggestions when it comes to analyzing properties to get more comfortable and improve my process. Some things that were suggested is looking on the tax assessor site for tax information on that area. Trying to reach out to landlords to get an average rate for utility payments and rents. If any one has any suggestion that would be really appreciated. I know there are alot of other things to cover like location, realistic price ranges in DFW area but i want to get comfortable analyzing deals first so advice is welcomed. Thanks