All Forum Posts by: Collin Vosburgh

Thank you very much everyone for all this great info! I didn't know he got burned because he was in commercial real estate and they called in their loans. That's a relief to know. I will still continue with the plan I have. Finding another house to buy and move into (since we don't really like where we're at now) and renting out our current property until we get enough equity on it to sell and put towards a couple multi-units. We already have about 50k in equity on it so hopefully it won't take too long.  

So in his book "Complete Guide to Money", he says that you shouldn't even get into real estate investing until you're out of debt, maxed out your 401k and Roth IRA options, have paid off your own house, already have enough wealth built up and can pay cash for the properties. But can that be right?! I mean if so then what? You shouldn't get into real estate investing until you're old and retired? And already wealthy? That blows my whole plan apart! I was planning on renting out my house and then use the equity to put down on a second property and so on. Is that not good to do? I hope someone can shed some light on using debt to build wealth.

    Hello everyone, so my girlfriends mother said she would like to partner up with me. I haven't done any deals yet but I have been playing around in the stock market a bit to get enough money to start investing in real estate which is my ultimate goal and what I've been studying like crazy the last few months. Now with her wanting to partner with me I think I can make it happen sooner than I though.. hopefully. She has a house that's completely paid for and 65k at her disposal and she wants to me start making her money work for her. Does anyone have any advice on how I should get started? Thank you!

     Hello everyone! So here's the deal. Me and my girlfriend are currently living in a house that her mother owns but apparently it's in pre-foreclosure. I would like to somehow buy this house and possibly rent it out. Her moms idea is to let it go into foreclosure then buy it back when it goes to a short-sale with a private lenders money (which I have) but I think this is a huge risk because, correct me if I'm wrong, but once it goes into a short-sale anyone can buy it and I'm sure we would be going up against experienced and knowledgeable investors that would get it before us. Then we would be in quite a situation  and lose everything and I don't want to risk that. Is there any other way I can get it maybe before it goes into foreclosure? I guess she said she owes way more than its worth now. Please any advice would be greatly appreciated. Thank you and sorry for the multiple posts. I didn't realize they would be posted in the same place

Wow, thank you all for the great answers! Some great advice! I do listen to the podcasts all the time, very informative. Thank you for that REI groups link Crystal Smith. I had no idea about that. Now I can network and try to fond someone who wants to help me with deals so we all win! Although it looks like I'll have to find other ways to get deals than the traditional way because there's no way I can put 100,000 down right now haha. I definitely have some things I can bring to the table.. but not the best credit.. yet.

Thank you! Sorry for all the questions haha. I actually did read the ultimate beginners guide and learned a lot from it. I'm thinking of starting off with single family homes as rental properties and going from there. Eventually multi-family once I'm able to have someone manage my properties. I'm not really sure how to find them though and if i do.. then what? A meet up would be great!! 

So I'm new to real estate and now that I'm making some decent money I would really like to start investing. BUT I have no idea how to get started! I can read all I want (and I've read a lot and listened to a lot of lectures) but when it comes down to it, when it comes to finding a deal and getting the ball rolling I have no idea! How do I get deals? What paper work do I need? How much money do I need? How do I know where to buy?! Is Illinois a good place to buy? I live in the northern part right by Six Flags. I definitely need help. How do I find someone who wants to help and do deals with me? Any advice would be greatly appreciated. Thank you!