All Forum Posts by: Billy Tegethoff

Listening to the podcasts and reading various books/blogs/articles, I've noticed the phrase "meets our criteria" or some variation thereof used often. I'm wondering how you go about deciding what your criteria are? So far I've gathered that you need to know what you want to use the property for, but beyond that it seems like guesswork. Does anyone have a list they use, or some kind of boilerplate method for writing down your criteria? Can anyone recommend any good resources for determining what a realistic ROI would be in your market? I'm not even sure if I'm asking the right questions with this, but I've looked at a lot of different types of properties, and I'd like to form a better method of narrowing down the selection process. Any thoughts or suggestions are much appreciated.

Hi, I'm a newbie real estate investor in Phoenix, still learning and looking for my first property.  I just picked up Rich Dad, Poor Dad again and it has me chomping at the bit to do something! I don't have any money to speak of, but I have time and skills; namely web design and photography.  I can do graphic design as well, since it's part and parcel with web design. 

My aim is to be useful so that anyone willing to teach me how they've made money in real estate will gain from our interaction.  I'm happy to use the free time I have to hunt for deals and bring them to you so I can learn the process.  I figure if I can make you some money then teaching me will have been worth your time.  I have a dismal credit score because the only credit card I've ever opened was when I was 18, and I closed it within a year after making some late payments.  I want to get into this game, and I know there is a way, if not a multitude of ways.  I'm willing to bust my *** to find out how.  

If you are in Phoenix and you are willing to work with me, please let me know. 

Thanks,

Billy Tegethoff

Hi there, I'm looking for a multifamily property to purchase as a rental property in Tempe, Scottsdale, North Phoenix, Chandler, or Mesa.  Anyone have anything along those lines?  Thanks!

Thanks! Good to know I'm on the right track at least. I figured it couldn't hurt to post a question prematurely, if for no other reason than to be active on here. Thanks for the reply.

Hi, 

I'm reading Brandon's book on low and no money down investing, so I may answer my own question just by reading on. I'm perhaps over-anxious to get started, and I'm looking for my first property. That said, my credit score it totally in the toilet. I had one credit card when I was 18 and made one late payment and then cancelled it. I'm 29 now. I know, I know...the result has been that there's really nothing to pull information from on my credit report, so my score is 552. In any case, I'm trying to find out if the best course of action is to focus on repairing my credit score so I can more easily qualify for a loan, or if there are smarter routes to take so I can get moving in REI. I'm a student until the end of 2015, and I'm not going to be able to work full-time during my last semester, but I will still have enough spare time to keep working (I do freelance web/graphic design, and photography) and attempt to start my REI career. What have you all done? My guess is I'm not the only one with this problem, and my other guess is that more that a few BP folk have found ways out of this dilemma. Thanks for your help!

Hi Trish,

Nice to see another Phoenix local on BP! I'm brand new to this, but I'm always happy to connect!  Good luck!

-Billy Tegethoff

Thanks for the replies everyone! I'm curious what kind of investing you all do?  Do you have a particular focus?

Hi everybody, 

I've been a member for a week or so now.  I read through the UBG and have been voraciously consuming the podcasts.  I've wanted to get started in this ever since I read 'Rich Dad, Poor Dad' earlier this year.  My goal is to work for an active investor to learn the ropes during my last semester of college and then break out on my own.  I'm passionate about music, design, video, and architectural photography.  As with most, I want to get into investing so I have the freedom to pursue my passions without having to worry about them being a source of income.  Based on the reading and podcasts I've caught so far, I'm leaning towards focusing on multifamily properties.  I'd love to meet some of you and hear what you're doing with your investing!

Thanks!

Billy T.