All Forum Posts by: Elisabeth Hernandez-Madrigal

Totally awesome ! @Brian Burke ! Very inspiring and motivational to say the least!

Welcome to BP @Myles Wisdom ! You are definitely in the right place.

Good luck in your journey! Keep us posted!

Welcome to BP @Larry Thurman ! Well you have come to the right place. You might look into RE meetup groups locally to start networking and get yourself known as well as on here. Good luck in your journey.

Congrats @Ezinwanne Hawkins !!!

Congrats @Wendell De Guzman

@Aja Rogers

Welcome to BP @Aja Rogers !

You have come to the right place. I've become a sponge...taking all of it in. Getting familiar with RE keywords, concepts. When I have a questions, I type it in search and so far I have found it's already been asked, so you get the added benefit of there already being a thread and others replying to the original question posted.

I am also looking at getting my real estate license, which I have decided the pros outway the cons on getting vs not. At least for me. Now is finding where to get it or which online source to get it through. I am reading through customer reviews at the moment.

I am working towards my first official investment property, so I am still a newbie, in the educating myself properly. Goal is 6 months to have a "buy & hold" property.

Also, welcome to Houston, Texas (from The Woodlands, TX myself).

Good luck on your journey!

Lisbeth

@Joshua Roberts,

Thanks for the info.

@John Fossetti is correct on this is not a "get rich quick scheme". You definitely have to work at it and educate yourself. But it is possible with educating yourself (BP is a AWESOME place to find alot of that education through the podcast, articles, book recommendations, etc) hard work and a "not giving up" attitude. Have you given thought to saving to invest in your primary residence? You mentioned you would be getting a tax return of about $5,500 next year, as well as you having around $300 a month left over after bills each month.

So, you will have around $7,000.00 if you save that combined.

$300 each month towards savings (August - December - 5 mths X 300) = $1,500

$1,500 + 5,550 = $7,000

There are quite a few loans out there for first time home buyers with no money down or like 3.5% down of house price, loans that have $ for repairs needed on home you are looking at, etc. Maybe you can even look into a multi-family home (duplex), where you live in one and rent the other out. So the mortgage can possibly get paid by the renter and you get your feet wet being a landlord, investor, handy man, etc.

Biggest thing first...Save, Save, Save! 2nd biggest, get a copy of your credit report, find out what you have to do to fix your credit. It will be much harder for you to not fix this now, if you want a future in real estate.

You can do it, just not at the speed of light like you might want.

Hope some of this helps.

Keep us posted on your journey and good luck!

Lisbeth

Good morning Joshua:

Welcome to BP! You have come to the right place to start your journey. If you don't mind me asking, do you own or rent presently?

Morning Duncan:

Sorry to hear about this. It's always tricky to get involved with family on these type of situations. This I know far too well. You go in trying to help out and do a good deed for all and somehow no matter what you do; you come out being the bad guy. Sometimes we try to help and we do but it is more of a Band-Aid to the actual problem. If the family member did not deal with "why" the residence went into the foreclosure stage in the first place it's hard for them not to fall into that again. Meaning, living beyond one's means. Not budgeting, etc. It would be a shame to lose the house when so little is owed. I would see what your options are, something that would work for both. Just be careful because this is family and whatever decision good/or bad. If they see it bad, you will have to deal with this every family gathering, etc. Hope others can share more light on this.

Good Luck,

Lisbeth

Morning Robbie:

Congrats on one of your many first steps towards your financial freedom! I am about 4-5 months away from this first step. But one day closer none the less. Keep us updated! Your experience through this process would be most welcomed. I will be doing the same during my journey.

Bless!

Lisbeth