All Forum Posts by: Angel Rosado

I agree with so many people in this post.  The main thing keeping me back is ME!  We all make a lot of excuses but if there is a will there is a way.  when I first began researching the biggest hurdle was a down payment, lack of knowledge, lack of a network, yadayadada but just by finding the time to do these things you can oversome these hurdles.  

In 3-4 months, I've learned what I thought would take me years, I've met great people and connected with great minds, I've asked questions and got them answer.

I began with NYC is such an expensive market, how will I ever get a 20% down...its impossible (::sarcasm:) then I broke it down. I expanded my backyard to an hour radius, decided to leverage a 3.5% FHA 203K, and heavily considering using a loan from my 401k as a downpayment.

Now im still working on alternative down payments but at the end of the day I have learned that most of the excuses we create can be dealt with, they are just opportunities to solve problems.

@Parag ShahJust as am FYI there is a meetup next week that the NJ REI club is doing. You can find it by going through meetup.com Good luck

Welcome to the site! There are so many useful resources as @Brandon Turner I would say set up your keywords with the areas that you are interested and be active in the forum and you are guaranteed to learn a plethora of info. With thePodcast, Blogs, Forum, and free resources you can achieve success you just have to commit and take action.

Also be on the look out for local meetups that you can find Events, you can really meet a lot of amazing local investors who are truly here to help you and help this industry.

@Latoya Gordon

 Glad to see the determination, it is something that will be tested because failure is inevitable in this realm but you have to learn to push through those obstacles and persevere.  Real Estate Rewind is another great resource and a great way to get different views from various investors. The replays are exactly what was on the live webinar just make sure you take advantage of it before it expires.

Feel free to connect with me as a colleague.

@Wayne Brooks

This info is very useful. Do you have experience with 203ks? is it difficult to find approved GCs?

I want to do some of the work myself but never living in a home puts me at a slight disadvantage and want to know that I have a GC when I need her/him.  I totally agree to go with a community bank, I am staying away from the Mega banks like they have a plague. 

@Mark C. I am planning to manage the property myself and thus my question is answered. Thanks a lot!

@Joe Capobianco Check out this NJ REIA It's a listing of some useful NJ REIA clubs. If this doesn't work I suggest also signing up for meetup.com and you can definitely find local investment clubs.

@Mark Nolan @Mark C. I always find it tough to diversify as there are so many people who say that sharp focus is what will create greater returns but I guess if you think about it a SDIRA and investing for current cash flow are not vastly different if both are in RE.

Thanks for the info, this is really to utilize in order to purchase my first property and trying to find the way that would work best.  I am looking for growth, so wanted to know if you use a SDIRA are you able to 1031?  Can you structure a SDIRA to be a partial downpayment and payout the return based on the % that is put in through the SDIRA?

THANKS!

Welcome to the site @Parag Shah. There are a lot of people on this site that are great resources and you may be able to network with that will help you begin your career in REI. I would highly suggest listeining to @Darren Sager Podcast Episode 48 and @Matt Faircloth Podcast Episode 88 as they are both NJ investors.

If you are focused in the New Jersey area I would highly recommend setting up some keywords with "New Jersey" and the specific location you are looking into.

Good Luck and welcome to the BP family.

@Latoya Gordon

 Hi Latoya welcome to the site.  You will notice there are a ton of resources here to learn about investing in real estate.  The Podcast, Blogs, forum, events, and books that are available are truly an amazing treasure.

If you don't have any experience with REI like I did I would highly suggest starting out with the Ultimate Beginners Guide its free and written by the amazing Brandon Turner.  (Don't mention I said Amazing hahaha)

As for the tagging people with the @ sign go quickly check out this post gives you a quick tutorial.  Its useful because it keeps the conversation going.

Feel free to connect with me as a Colleague.

Good Luck and once again welcome