All Forum Posts by: Elisha Lowe

I met him at a local REI meeting that I attended with my partner. I am not a social butterfly but my partner is better at socializing, networking and asking questions. We struck up a conversation with this gentleman and his wife and because of reading this site and other real estate blogs, we at least had the sense that he knew what he was talking about.

Anywho, we set up other meetings over lunch or dinner (we always pay) to discuss how we can work together and learn from him at the same time. The advantages that we have is that we have good income, credit, I have a student loan but partner has no debt, and we have a down payment .

He is very well connected in our area and can refer us to many people who will become apart of our team eventually. What he gets out the deal initially is that as a real estate agent he get commission on the buy and sell if that is the route we go. His wife is a mortgage broker so she gets our business as well.

Tonight we met for dinner and talked about the course of the first deal and eventually partnering on the next couple of deals. I still have to do some research but I am probably going to open a SDIRA which will allow me to invest with him and others.

I understand that not everyone has the same situation and probably most won't even need a mentor. If you are interested in finding one I would really suggest looking locally through REI meetings, clearing up credit or at least maintaining good credit and saving money for a down payment. There is a lot to be said about having excellent follow up and showing a mentor that you are serious and you have something to offer them as well.

Good luck newbies!

Great post Nancy and congratulations! I am virtually cheering you on. I met with my mentor today who has a lot of experience and deals under his belt and his car is mediocre. LOL

I am not hearing enough about it. I though we would hear more especially this week kicking off campaign season...ugh...here we go.

I don't know if this will stimulate the economy enough but it is worth a try and it may get bipartisan votes.

I'm wondering if we can extend the Bush tax cuts and do the payroll tax holiday. Probably not.

Sounds like a cool project. I really like the idea of the key codes bar codes especially because it does not seem to be cost prohibitive.

However, you could save by first trialing or implementing a sign out system to test for a month or so. Why not implement the sign out sheet now especially if you can have someone monitor it. Is it possible for the sign out to require 2 signatures where the cosigner is the only one with access to the equipment? Also, those who are assigned as cosigners should also be responsible for tracking the supplies within a set number of days.

Good advice here - I am lining up financing at this point and it's been keeping me focused. I have an understanding of what I can afford and I have been saving to build up my down payment which is decent but I want to have more just in case. I always hear that you can use OPM for deals but I'm not relying on that.

I just did a basement renovation at my personal property and instead of tricking it out with new t.v, furniture and games we decided to put the money aside for our investment.

Bob, definitely get an idea of what you qualify for and if you have enough towards the down payment.

Good luck!

Great thread and thanks for the tips. My partner is more into these things than I am so I will show him this thread later today. We went to D.C for the weekend and he tried out the Zillow app as we walked through different neighborhoods and he liked that. I don't know how much info it gave him though. I will have him try some of the others that were recommended. Thanks again!

Good replies. I had the same questions as far as where to invest. I am close to Delaware and NJ. I've decided to follow the strategies discussed above- sticking with what I know and that is Philadelphia. I am looking at properties less than 1 hour away. I've spent time in most of the neighborhoods where I am looking to buy. I refuse to buy a property that I would not want to live in. My target demographic are blue collar people as well.

Ugh...why? This thread has become ridiculous, as always. What's the point?

And what is it that your spidey sense is trying to tell you?

Frank,

The Philadelphia Wealth Alliance - you can look up on FaceBook I don't know other web address. They meet downtown at 1735 Market in the Pyramid Club. They have round table events during the week and I am really looking forward to attending one of those. Check it out!