All Forum Posts by: Thomas Berridge

@James Hamling well said! Dumping money into the hoods or BLM is like pissing into the wind. It won't get you anywhere. People have to want to help themselves first. Look for folks who are struggling, not for people who are playing victim

Hello all!

Just curious, while most real estate in my area is very high in demand and low inventory, I'm waiting for the prices to level off somewhat. While in the sidelines building cash reserves, what other investment opportunities are fellow investors dabbling in?

Hey Mark, 

Thanks for the reply. Cant seem to find the message you left. Do you have contact info I could reach you at?

Thanks for the reply Percy! So maybe finding a deal then presenting it to the lender would be a better way to go? I own my home but do not have enough equity just yet. Could get another mortgage but the 20% down would eat up my savings. Just looking for a way to get started. I have found a couple foreclosures I KNOW could bring a nice return just need to figure out the money part!

Hello all! 

I am interested in finding a hard money lender to work with to purchase my first flip project and wanted to know what to expect and questions I should be asking aside from the normal ( int. rates and terms). I think this is a good way to secure my first property and feel it is a pretty safe way to get started. I do have 10k in cash I planned on using for renovations. Also have money in my IRA that could be used if need be. Looking at a purchase range of 50-70k and holding no longer than 3 Months. Thanks for any advice!

Hello all! 

I am interested in finding a hard money lender to work with to purchase my first flip project and wanted to know what to expect and questions I should be asking aside from the normal ( int. rates and terms). I think this is a good way to secure my first property and feel it is a pretty safe way to get started. I do have 10k in cash I planned on using for renovations. Also have money in my IRA that could be used if need be. Looking at a purchase range of 50-70k and holding no longer than 3 Months. Thanks for any advice!

Hello all!

I'm Interested in finding out how to size up a potential rental property? What do you look for? Aside from area, taxes, currently rented or not, possible monthly income, neighbors, condition of house, value, etc, etc. I wanted to hear what seasoned investors think. 

Been a while since I've been on, was on a very busy job all summer and have slowed down with the winter months. So I've been doing a lot more research and believe I have found a potential rental property I'd like to look at but as my first one, I want to make sure I am making the right desicion. I have also found a local real estate investors association and plan on joining within next month. Is this a good place to also network? I was hoping to find people just getting started like me and possibly meet a "mentor". Lastly, is purchasing a lower end rental property with all the right things in line a good way to break Into real estate investing? Just want to make sure I'm making the right choice and moving in the right direction. I appreciate all help and replies. Thank you

Hey guys! Hope everyone is staying warm with these freezing temps we've been experiencing! I know I'm not but that's my line of work! Construction!! 

Just wanted to ask you guys about day jobs vs spending time on your investments. My job allows me to work a "normal day" of 7a-330p which allows some extra time each day to be able to work on projects ( if I had any, still working on #1 ) and the occasional layoff I go through at the end of jobs, which is nice to catch up on stuff I couldn't when working. Anyhow, my question is how many had day jobs before jumping in with both feet into straight investing/ flipping? And how many still work at another job? I assume as with anything else, if you get busy and profitable enough you can make that leap which would be really nice sometime. Guess you could say that is my ultimate goal. My own boss, my own business, a sense of accomplishment, calling the shots and paving the road to my financial future! Ahh its nice to dream isn't it!? Well I want to make this a reality! 

Wow!

You guys have done great! I really appreciate the information.  It appears I may have a little more saving to do before I get my feet wet!

Just trying to get a feel for what price brackets most started out in? And how did you finance your first deal? Also, is it possible to fund a deal with an IRA and not be penalized for taking money out?

Between credit, IRA, cash and a partner I'm hoping I can find a deal that will work out. I plan to start small. Even if I don't make a devent amount of money I will go through the motions and learn for the next deal. But being on the plus side is always good too. Also, do you guys prefer fixing up rentals or fixing flips? I've heard rentals are the way to go but I kinda like the flip idea and move on. Not sure I'd like being a landlord, but never been in those shoes either!