All Forum Posts by: Allan Pilapil

What are some reasons why you would be a mentor? What are some benefits of being one, and what do you look for in someone who you would like to mentor and share knowledge with?

Also what are some skills and traits one should have before seeking mentorship?

I’m 24 and I’ve had a unique past but through hard work and determination I’ve been able to turn many negatives into positives and I just recently bought my first property in Northern CA - I am seeking mentorship here in the Bay Area and I’m curious on what are some ways I can connect with seasoned investors

Thank you for you input - I’ve learned so much so far on bigger pockets and I’m excited to keep learning!

Respectfully,

Allan Pilapil

I just bought my FIRST property in Northern CA using an FHA loan

What are some ways that I can scale up into my second property within a year?

I will be saving $1,800 - $2,000 a month and my goal is to buy a multi family property within 12 months.

Someone suggested that I save, then do a cash out refinance in 12 months, and roll the funds I have saved into a new FHA loan while using the cash out refinance money for repairs and rehab.

What are some methods that worked for you? Or things you would’ve done differently??

All input and ideas will be extremely appreciated!!

Thank you so much!!

@Mark Albini

Awesome thank you will definitely keep that in mind!!

Finally closed on my first property in Stockton CA. I used an FHA loan. What are some steps to take if I want to buy another property within 12 month? I want to buy a fourplex. I will be saving $2K+ a month and should have 30,000 liquid cash by the end of 2021. Some options I was considering are buying out of state, refinancing, 1031 exchange. Etc

What are some ways you scaled from the bottom up?

Thank you!!

@Mike Mocek that’s awesome will keep that in mind thank you!

@Calvin Kwan

Hey Calvin I recently purchased some great appliances for my property in Stockton. I got them on offer up. They are second hand but came clean with a warranty and they look and work as if they’re brand new. Saved over $2K with the same look. I find the best deals Craigslist or offer up

@Andy Eakes

Thanks Andy I’ll definitely take all that into consideration and be picky and selective with my next tenants. I’ll probably do month to month with a guarantee that I won’t raise rents for the following 12 months

Btw I’m jealous you’re in SD. Lived there for 4 years and miss it every day lol

I just purchased my first property and will be looking for tenants to move in. Due to the economic climate and high percentage of people not paying rent, would it be smart to rent by the month or 1 year lease? My concern is having a tenant that refuses to pay rent and is tied into a 1 year lease vs having a month to month contract where I can have them leave the following month if we can’t find common ground. Please let me know your thoughts on this! Thank you!

@Brian Ellis that’s awesome and inspiring! Congrats! You’ll kill it

@Jaafar Mirlohi thank you! And wow that’s an awesome quote definitely going to be stealing that