All Forum Posts by: Chris Hayes

I'm still in the process of learning about investing and banking money. Is it possible to avoid FHA loans even with low money down (3.5-5%) by going through community banks? I know there's a lot of talk about how community banks are more likely to loan to investors. I'm willing to go the FHA route if I can find a duplex or house with another living area, but if I could find a great deal on a single family dwelling for an investment property, would it be possible to avoid an FHA loan without 20-25% down?

This is a good discussion! I live in Oklahoma City and am looking at getting started, but I've noticed Zillow showing a price decline that started in 2015 or last year. I know the oil shock had to have an affect on the housing market, but unemployment hasn't really gone up and there continues to be more building going on (good and bad thing) as well as new commercial developments metro wide. Personally, I think OKC Metro has a lot of potential as a city for long term investing. 

I plan on calling the agent today. I already took a look at what I could at the house a few days ago. From the outside it looks in good condition and is in a decent neighborhood. 

Okay, I would like everyone's opinion. I've got my eyes on a house that's listed as a short sale. The potential home value is 20K more than it's listed as. My thinking is that I would put 20% down on the house, and live in it, thus cutting my rent/mortgage expenses in half. The mortgage would be around 400 a month. This would allow me to save a lot more, in addition to the equity that's potentially built into the property. Would it be possible to make use of a home equity loan to put down on my next property. If so, this seems like a potential win/win. Before i would make a move on this house I would have a home inspector look through it, and to have it's value appraised. 

Moderators: if this is in the wrong forum let me know as I didn't know where else to post it. I already did my intro a while back, but I live in Oklahoma City and am interested in real estate investing. I'd like to find a mentor or someone to work with who I can learn the ropes from. Maybe turn into a partnership. And I'm not talking for free. I've got no problem putting in the work for it as well. I'm studying for my home inspector certification and know how to do some handyman stuff so putting in sweat equity wouldn't be a problem. I've also started going to meetups around the city when time allows. 

Wish I could attend as I want to meet up with investors around the city to start networking and hopefully find a mentor, but I'll be at work. Maybe next time! 

I'm entirely new to this and have just been reading books, and watching podcasts, so I'd love to join the meetups as well. I work full time, but am also looking to get out of the employee racket and become more or less self employed. I can do some handyman work and paint, so networking to get side jobs for investors as well as finding mentors would be great too! 

How did you start out in real estate investing? Did you just start out investing, or did you work in a related industry or maybe have a business related to investing? I work in truck maintenance at a major distribution center now, but really want to become self employed and get involved in real estate investing. A couple routes I've looked into are becoming a home inspector, starting a painting business, or maybe doing photography for investors/agents. Maybe a combination! Any of those would open doors into the world of real estate. FYI, I live in Oklahoma City.

Thanks for the replies everyone! I thought about going to the OKCREIA meetings, but considering I'm not an investor yet, I didn't know if I'd fit in. I wouldn't even know what to wear! I do want to establish connections with and meet up with investors though. I'll definitely take that beginners course and watch that playlist of Youtube videos! 

Hi, everyone! My name's Chris and I'm interested in getting started in real estate investing. I'm interested in cash flow at first, but also building up my wealth over time. My ultimate real estate/business goal is to have a self storage facility. OKC Metro is a growing metro and people need storage and housing. I've been watching the Bigger Pockets podcasts and videos as well as starting to read a couple of books including Rich Dad Poor Dad.