All Forum Posts by: Amiel Nicdao

@Odie Ayaga That actually sounds good. Give them funds and see how the process works. Seems a lot riskier than going at it on my own or leading the purchase. Will look into that. Thank you!

@Dmitriy Fomichenko Thank you! Glad to be here!

@Odie Ayaga Nice! Thanks so much. That's extremely helpful. It seemed to me wholesaling was the easiest way to get into real estate. I was about to buy a course but I've had a few people advise against it. Now it makes more sense as to why they did. 

You mentioned to start out as a flipper. Can I start out as a buy and hold investor? I want to own multiple properties for passive income. I like what I do for a living so I am not looking to quit that. I want to build lasting wealth but also not take years and years to do it.  

What if I have the 30k, what would you advise to start doing? I know I mentioned that I'd rather get capital from other sources, but at the same time, I feel weird using other people's money without knowing enough. I've raised capital before and have given a positive return to our investors, but not in this field. 

So, at this point, I see these options for me:

1. Use my own money for down payment and an FHA loan for the rest.

2. Use my own money and a mix of other people's money and finance a property without a loan. (This seems scarier)

I'd also network and continue learning. I'm sure as I learn, I'll come up with other possible scenarios. I want to weigh whatever options I have before deciding, but also not fall into analysis paralysis. 

You have been so helpful. If there is anything I can do for you, please let me know. I am a web developer and can do sites and web applications and such. I don't want to keep asking you for advise without offering anything in return. More than happy to skillshare!

Thanks again,

Amiel 

@Nick Peters, thank you! I've read number 1 as well as a couple of guides. Have not taken a look at the blog yet and didn't know about 3 and 4! I'll give the calculators a try once I know what to do to get started or how to find deals worth looking at. Thanks again!

@Daniel Vineis, thank you! 

@Odie Ayaga, thanks for your comment! Save until how much? I have more in savings, I just don't feel comfortable investing it in case it doesn't work out. I'd much rather get a loan or get some capital from other sources in addition to putting in my own 10k. And how come not wholesaling? I don't want it to be my long-term plan. I really just want to get my foot in the door in the fastest and easiest way possible so I can learn.  

Hi all!

I'm Amiel from NJ. I've been wanting to get into real estate for a few years but didn't know how to start. This podcast/site was recommended to me by a former coworker and now I'm here!

I am totally new and with real estate knowledge close to zero. What I have done is watched Brandon's 4 video series, read the beginner's guide, and put together a criteria. What I am looking to do is to start wholesaling just to get my foot in the door. I am also looking to buy a 2-plex to a 4-plex in Vegas where I plan to move in 2021.

My criteria:

- Multi-family, $100-$200/month cashflow, in a transitioning or a B and above neighborhood, a cash-on-cash return of 12% minimum, an equity of 25% (?), and hold long-term for passive income.

I got some of the above percentages from a webinar I watched if I remember them correctly. Is this enough to analyze a property?

Also, I have looked into an FHA loan based off a suggestion from someone in the BiggerPockets network. It looks good to me.

My other question is, if I am looking to start as soon as possible and I have about 10k, at most, that I'd be willing to part with, what should I be doing? I've heard both bad and good things about wholesaling, but it doesn't have to be wholesaling. I just want to get started somehow. 

Extremely driven to make this work. I'm just not sure how I should start or what I should do given my circumstances. Books, podcasts, advice, etc will be greatly appreciated! 

Thank you all!