All Forum Posts by: Amir M.

@Sunny Suh Hey! 

I am a total newbie. And any information regarding that area is worth value for me. Experienced or not, I could definitely use some insight on that area a little more. I live in NYC so there is a bit of distance between (but not so much). I would definitely be appreciated if I could discuss with setting up notifications. If you don't mind, I sent you a colleague request. 

Looking forward to your request. 

Hi Lisa! 

I've got no experience with investing yet so far but I'll give you my knowlegde so far. In a situation like this it only takes a phone call to any real estate agent nearby. They're the ones who knows the best up to date numbers. Getting numbers through online can sometimes be sketchy and out of date at most times. 

But if you're only trying to find a rough estimates to use it to calculate for your potential property then I'll suggest you to research what the crime rate is. Or what is the population in that area. Or what the median income of that area is. Remember people with less income usually tends not to be a long term tenants, which can mess up your vacancy numbers. 

In the case of estimates, I usually put it in 5% in my neighborhood. But if you feel that those criteria isn't met, then maybe increase your vacation rate. It doesn't hurt to be a little conservative. 

All the best Lisa! :))))))

I really don't know the market. Have you considered a closing cost? Rehab cost? Water and sewer cost? SInce you are going to living in it, are you gonna put down an FHA loan? If so you have to include an additional PMI charge as well.

I don’t really know the area of the market but honestly the numbers seem too good, but that is just my thought on it. Let’s see what others think of it. 

Good luck! :))) 

@Clay Manship Wow! That is so cool! Do you think you wouldve earn more if you have stayed in your old job? 

@Ali Boone I am not going to lie, flying planes and doing rentals! I am so jealous! Congrats for a successful businesses and personal endeavour! :)))  

@Odie Ayaga You could not have said any better! Having that financially freedom is also what really interested me on Real estate investing. And I know that before I start with this, I have to attain skills that will compliment with my investing. 

@Seth Rouch Thank you for sharing! How has real estate been for you? 

@Michael Minor Cool! Do you intend to invest more? 

@Ian Walsh Nice! working for a painting company, means you would have some knowledge about painting and the cost of paintings! Thank you! 

@Kalyanii K.That is such a cool story and kudos to you for getting back up to your feet! I love nurses (Not in a creepy way), they are such an underrated worker! Thank you for helping the veterans! :))))  You're doing God's work! $3000 out of your pocket on your flip? How did you manage that?

@JD Martin Military -> College -> Executive Management! That is quite a dream! You went up and up and up! I will definitely listen to your story! 

@Sarah Brown Nice! DO you and your husband invest on properties? Seems like a perfect match. You have that business/marketing mind sight and your husband with a good paying job. Best of both worlds !

@Chris Armstrong Mine too! I'm still a college student so I don't have a full time job yet. But I am hoping to grind out 10-15 years, earning stable income while I invest in rentals. And when my properties full support me monthly, I will retire and start off my investment business. Until what amount of cash flow per month will you finally leave your job? 

@Joe Splitrock Do you handle properties now? Yea, I am planning to buy that book now. Seems very popular in this community it seems! 

@Austin Fruechting This is such an inspiring story! Are you now pursuing onto real state investing full time now? You guys must be earning a good cash flow! Grats! :))) What do you think of the book Rich Dad Poor Dad? Seems very popular amongst investors.

@MIchael Rickerd I love your journey! From based on what I have read, a lot of people here often worked a good paying job for a couple of years. After they built that enough savings, they left their job and started investing fulltime. Is that something that you are eyeing for? 

@Jack NiOoOOoo Nice! Does it make an enough living to support yourself? 

@Tony Xu That is a great goal! SF is a tough place to start, no? I am in the same boat as you.. I am from NYC :( 

@Brian Garrett Yayy! I love your story. I am sure those experience that you have started in your previous company will serve you well. What are your goals?

@Doug Pretorius How did you started out with the financing? Did you get the money from a private lender? You have lots of experience in your belt! Thank you for sharing. 

@Mary White This is such a nice goal! Do you have a real estate license? I am curious about online businesses, they seem to make a good decent living as well.  

@Ronak Bhimani Welcome to BP! 

I was in the same boat as you were. It kinda seems overwhelming at first but stick around this forum. 

1.) Just by sticking around this forum, you learn a whole bunch trust me!

2.) I would also suggest you to look at bigger pocket youtube videos on analyzing rentals. Even if thats not what you want to do, it still gives you very important business terminology. 

3.) im not sure if you have twitter, but if you do, follow bigger pockets twitter. They regularly post very helpful blogs. 

4.) listen to podcasts. There are over 200+ podcasts giving you guides and interviews from successful investors. The podcasts are so simple to understand too and they are very helpful not just for newbies but for us too. 

5.) going back to number 1, try to be active in the forum. Ask questions, post opinions or anything - it shows your worth. Learn directly from seasoned investors. This is the best platform. 

6.) Not really a tip, but if youre active here you’d probably find someone who'd potentially mentor you, or partner you. 

Good luck! 

@Jacob Wathen Hey! Thank you for sharing! psychology in business hmmm.. How did those majors helped you in this industry? I'm just curious

@Kim Stofan You have a cool job! And I am glad that you love doing real estate and being a nurse. So you want to retire at young age, so I assume you would want to spend most of your time in flipping houses or rentals? 

@Melissa Gittens Wow! That is awesome! I am so happy that you chose what you wanted to do! Grats! 

@Sung Park Kinda envy you. Working in home must be the best! I must imagine you make a very good money in your day job to invest in your real estate. You really do have best of both worlds! Thank you for sharing! 

@Thomas S.That is a helpful tip! Thank you. How are you holding with your investment career? Are you doing it full-time now that you're retired? 

@Dennis L Lewis Jr That is so cool! I like to think real estate is an art; well in a sense it feels like it. HAHA

@Dave Van Horn Wow! That is quite a journey! It seems like you had it all to be honest haha. Very business minded background you have that suits this industry too. In a way, this must have made you felt like a breeze settling in to real estate. Thank you! 

@Mark Smith ahh sux! SOrry for the #2. I'm sure you will hit off on the next one. Was your first property your primary home? or you used that as part of your investment cash flow? 

@Jody Schnurrenberger You bring up those good points. *writes down in a note* 

I am in no debate over myself if I'd want to do real estate investing. I have enough savings, and I do want to devote a lot of my time on it. I think for my situation, real estate doesn't have to be my number one priority is what I am trying to get at. It's about having the right balance. Whilst I am still relatively young, I think that thinking about it right now is indeed a very good decision. I feel no pressure about anything concerning real estate and it's all been about learning as much as I can. And I know that some of the people in BP have started when they were during college which is nothing but respect from me. 

Some might say, you learn when you make deals. I think that is also true. But it's about the journey and not rushing things through very quickly. Currently, I don't have that luxury of time nor stacks of money to be willing to go for deals when I am absolutely not sure about anything. 

I've been creating networks and calling some brokers so far and I think as a personal reflection; that's a darn step so far. 

It's very interesting to read you guys tell me how you started and what kind of background that brought you to investment. And reading these comments hasn't really been about who I must/have to be but rather an inspiration of who I could be. Each and every comment here has really made me happy and given me assurance that it takes just more than real estate investment to be successful in real estate. lol!