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All Forum Posts by: Benedict Jimenez

Benedict Jimenez has started 1 posts and replied 6 times.

@Kelly Claiborne

Not enough money or stable income to qualify for loans. Also, living in California makes it hard to try and “start in your own backyard,” as most established investors would say. It’s actually quite discouraging due to this pandemic changing the game for EVERYONE in this business. It requires learning everything everyone WAS doing, and having to adjust to what actually works right now. It’s kind of like unlearning things that won’t work RIGHT NOW, but will later, if that makes sense.

Post: Is 1500 enough to start in real estate?

Benedict JimenezPosted
  • Orange, CA
  • Posts 6
  • Votes 2

@Federico Gutierrez I’m interested in the Cleveland area. I’ve been researching the overall economics of most cities there and was wondering if you could shed some light on the market given you’re an agent there. Anything is appreciated!

Post: Is 1500 enough to start in real estate?

Benedict JimenezPosted
  • Orange, CA
  • Posts 6
  • Votes 2

@Travis Cannon

I'm assuming you are graduating with an Associates. That is a great start at just finding a job that will pay you above your market's average minimum for someone with no experience in whatever you venture into. Some places that require a BA might even hire you just because you have completed some type of further education. Right now just keep learning EVERYTHING. Save cash and constantly think about how you can increase your income to save even more for investments. I know Capital One offers a savings account that offers I think 5-7% interest. There are stipulations with that, but it's a way to get you making a little money on your money while you save and study. I strongly advise to focus on the major 3 things about REI as you keep learning and growing... How to find deals. How to analyze deals. How to finance deals. There is a TON of in between, but as long as you keep those things at the forefront, you're on the right track. Also, if you get really good at those three things, you can offer your skills to a local investor and maybe he/she would consider becoming your mentor or at least let you help them as they help you learn the game. Some investors even have positions within their network that need that type of work being done passively for them as to increase their portfolio. As far as $1500 goes... just save it or invest in yourself. REIA's usually have some type of monthly/annual cost, at least in my market they do, and they are about as much as you have on hand. At least in my market...

Other than all that, you're young and on the right track just by being on here. Think BIG man. And to quote the most loved and hated man in the REI world, "Be great, because nothing else pays!"

@Brian Ellwood That’s right. Cash Flow is the most important. I’m just now realizing prices don’t mean much, it’s all about the cash flow. From a beginner standpoint, is investing OOS in something like say 16-48 unit apartments possible with little/no money down? Given you’re looking to add value to C class properties...

@Brian Ellwood I'm just getting into REI and the multi-family property in my market is just so expensive it would take forever to save money for a deal, let alone get loans without any credible experience to be taken seriously. Would it make sense to put more time and energy into studying/investing in other markets where the initial investments weren't so costly?

Post: REI Newbie needing practice!

Benedict JimenezPosted
  • Orange, CA
  • Posts 6
  • Votes 2

What can I do, or where can I go to practice deal analysis?

I’m educating myself as much as I can, but I personally benefit more when I’m hands on and visually learning.

I want to be able to determine if a deal is worth the profit and the time required.

Thanks for any help!