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All Forum Posts by: Alfred Castillo

Alfred Castillo has started 4 posts and replied 49 times.

Post: New Guy LI NY

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

hey welcome! I had a question how do you get your R.E. license in New York.

Post: Newbie from Philadelphia, PA

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

Hey Welcome! I am looking at this moment to invest over there in Phili.

Post: Why Investors Should Consider Forming an LLC

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

For me I am a beginner at this real estate game but I am planning to purchase a property and make it into my first rental. The question is for me how and where can I form a L.L.C. and what are the postive outcome for a person like me who is just starting?

How do I get approve for mortage with a LLC open up ?

Post: Starting at an early age

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

I am 21 years old right, I hope by the time I hit 35 years I should be set.

Post: Dealing with opinions of family and friends

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "GoldenAmber":
Originally posted by "craig91167":
When I bought my first rental house my brother told me that i was not going to make any money and it was the dumbest thing to get into. I'm glad I never took his advice. After 4 years watching me invest in real estate he bought his first house to rent. Now he owns 18 houses and flips three to four per year. And I might ad that he does not work any job but real estate now! I think he is probably glad I never took his advice.

I rest my case. :D

The same thing here, I friend all like doing his spend money on his car. I brought a brand new Bmw M3 and he does not work all he worry about his car and going clubbing. I told him yo with all that money you wasting get yourself into real estate, get yourself a house rent it out and enjoy your money working for you, but no this guy does not want to listen to me well it suck to be him in couple of years. :lol:

Post: Dealing with opinions of family and friends

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5
Originally posted by "Marvin-the-student":
Originally posted by "CharlotteAgent":
Whats to loose. The government make it easy to start over. My family have always been overly cautious. Hence why they will work for there money. This month alone I have made $16K in one month and look to do the same next month. Everything is in place and all I need to do is close. While $32K is not big numbers by any means it is what some people have to work for all year. If I can do 2 or 3 more deals like this I look to make close to $80-100K this year.

When my family barks at this I'll take them to dinner and write it off as a business expense while telling them how I did it.

The no Sayers are just that... use there negative attitude to drive you even more...

And remember a failure is just another lesson learned!

Good luck!

I will be the first to admit modesty and throw my salary out there of only bringing in 38k a year at 29 yrs old, and knowing that the 9 to 5 isn't for me, so when you say you've made just about my salary in 2 months, I NEED to know what you know. The more I learn about financial intelligence and the fact that the people who reap the rewards of it are just ordinary people doing more than the ordinary person. The more I realize I would be doing my life a grave injustice if I just submitted to the dogma.

The dogma that we must work HARD for our money, get a nice education, find a nice job that will take "care" of us the rest of our lives on into retirement. If I can see the veil over my eyes how come the rest of society, our family and friends can't?

When I started working at Sprint when I was 19 years old and made 37 thousand on the first year I said to myself this is so gay I smarter and I can make more money then this. There was a person that I met couple of years old when I was 17 years old. I met the guy at some store and we were talking about goals and what I was planning to do in the future. The guy ask me what do you want to do after high school, I told him I wanted to be a aerospace engineer for JPL. The guy told me never give up on your dream and I told him I wanted to design my own Space shuttle before I died lol. This person taught me so much and at the end I ask for name and he was millionaire on the low.

Post: What Have Been Your Greatest Frustrations In Starting Out?

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

My biggest fraustion is thinking that I am not going to make it. Every morning I look at my favortite car and tell myself if you are going to make it and you are going to be driving this soon, focus alfred.

Post: When should I start my LLC?

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

How do you get a LLC started? Do I have to go to county Court ?

Post: I am planning to purchase a Triplex In Camden New Jersey

Alfred CastilloPosted
  • Residential Real Estate Broker
  • Bronx, NY
  • Posts 86
  • Votes 5

Hey, Hello people I just had couple of question about purchasing and making some rental income. As I am new to this forum so far I learn so much only in the the few hours that I been in this forum. The question is I am 21 years old I am want to retired by the age of 27- 29. The question is for a beginner is a Triplex is good start plus there are already tenants renting out the place, its turn over key operation and they are selling the house for 155k and I already did all my calculation like the annual income, operation cost, taxes, insurance, mortage, and vacany rate incase I cant find no tenants within 6 months.
I am still looking around and I lucky I save already 10,000 dollars for the deposit and my father said is was going to lend me his credit to this this bussiness venture althought his credit is 662 because they did credit theft will a bank give him a loan and can I but my name in the loan ? 8)