All Forum Posts by: Carlos O.

@Tamara Kalama 

Hi Tamara, you've come to the right place to kick off your career in RE. If I may ask, what prompted you to go into wholesaling?

@Jonathan Emery 

Hi Jonathan, it's been a few months, but I thought I follow up with you. Have you found an easy way to manage mailing campaigns through Podio?

@Alexander Flores 

Hi Alex and welcome to the BP forums. So just to make sure I understand, you somewhat have a very rough plan to start our your real estate investing, but would like more guidance as to where to actually begin?

Hi all,

I'm a new investor currently looking to buy a SFH. I understand that the best returns will come from those homes that need a lot of repairs. What I don't quite understand yet, are avenues I can use to fund the repairs. Since I am an out-of-state investor, I can't use the FHA 203(k) loan. While I have enough for the 20% down payment, I don't have the capital to pay for extensive repairs. I'm thinking that I would need private money for the first 6 months on a loan, do the repairs, and then get a refi. Are there other strategies or loan products I can use here?

Thanks,

Carlos O.

That is always good news to hear, but not too surprising considering the per capita income of the area; it's next to Coto de Caza. I was just there yesterday. I went hiking at the Holy Jim Trail. Great trail.

Here's a third option. Get married and get a pre-nup, that way there's no arguing over who gets what if things go south and who says you can't have a happy marriage. A pre-nup is just insurance. If you already own a few homes and have passive income, then go do whatever you can afford. 

Thank you @Account Closed

So i finally got the photos from my rea. The living spaces in the house definitely will need new carpet and paint. The bathrooms look ok as well, although they are not very pleasing to the eye. It looks like the previous owner skimped on the bathrooms.

But I think I found out why this house has been left on the MLS for so long. The basement looks terrible. There are signs of water damage, rust, water marks, etc. It's very unfinished, insulation is hanging down from the ceiling, there's trash down there. There's also support columns that appear to be telescopic adjustable columns, which are only to be used for temporary purposes. The I-beam that's being held up is rusty. How common are basements with water damage in KS?

Hello all,

I currently keep track of my finances in GNUCash, which is a free and open source alternative to QuickBooks, Quicken, etc. I have two books open, one for my personal finances and another for my self-proprietorship. I want to have my business expenses separated from my personal ones. Right now I have a checking account that I'm designating for all my business expenses. All the accounts in my business book are marked as zero (it's a new book). I'm hoping a CPA or someone with experience can chime in here.

1. How do I start off my books?

2. If I credit the checking account amount with the amount currently in there, where do I debit from?

@Malita R. Congratulations! Let us know what happens.