All Forum Posts by: Corrie Allen

 Wow! Now thats a different way of looking at it. Thanks for suggestion a different approach that I never considered. 

 Thanks Brian, thats great advice. I'll dig a lot deeper and and find out more about him. I was thinking of asking to see some of the current deals he is involved in. Maybe walk some of the properties with him or something also. 

Would it be to invasive to ask him to share the numbers on some of these current deals? I figure I will get a better understanding of if I even agree with the way he analyze his deals. 

Im not really sold on working with him. Im more concerned with how to invest my money with any seasoned investor since its such a small amount....or should I invest with another investor at all...

@Aaron K. Thanks for your response. That example he gave raised my eyebrows when he mentioned it and turned me off a bit. I was thinking maybe even breaking even but gaining tons of knowledge. So I do understand why you would be a skeptical.  

Partnering with this particular flipper may not be a good idea but do you have any sugestions on how I should approach a more experienced investor on partnering on a deal to get my feet wet and gain some hands-on experience?

Thanks

Through normal conversation with strangers I met a guy that flips home in my area. We exchanged information and went about our way. I mentioned this to a friend of mine that is a HVAC contractor and he says he has done work for him in the pass.

I met the guy for coffee and he told me he was doing 6 flips right now and does a lot to help newbies whenever he can. He gave me an example of one newbie investor that invested 10K and got 16K once the home was rehabed and sold. All the while gaining knowledge of the processs. He offered to help if I was interested. He mentioned he is always looking for deals and if I wanted to invest he will partner with me.

My question - (Being a Newbie) If I have 10K to invest how would you'll approach this situation? How would you determine if you would partner with him? What are some questions I should ask? If you decided to partner how would you structure the partnership? And any other suggestion would greatly appreciated.

Keep in mind have read a number of books related to real estate and have a fairly good understanding of the topic. I feel like its time to for me to get in the game now and wanted some advice on if this is a good way to get started.

Thanks in advance.

Hello BP! This question/concern has been on my mind for a while and I have been doing lots of reading hoping I can find an answer before I came to you all with it. Unfortunately I have been unable to find an answer so I'll see if someone here can give me a better understanding. 

I currently have a primary residence that I have lived in for 15 years. I am now looking to invest using the BRRRR strategy. I make between 50-60K in W-2 income with 720 credit score.

Know with all that out, here is the question/concern.

With my current mortgage and my W-2 income, I'm concerned the banks will not allow me to refinance another mortgage. I'm sure these factors are taken into consideration but not sure how much weight this will hold. Can some explain or at least help me get a better understand of this process.

Thanks in advance and Happy New Year to you all!

Thanks for the warm welcomes. 

@Brandon L. I will take your advice and hold off on the forum and focus on the education tab.

Thanks for the advice.

Hello Bigger Pockets Community! 

First of all, I want to first thank Bigger Pockets for providing this great resource for real estate investors. Thanks a bunch.

My name is Corrie Allen and I am new to real estate investing. I have been reading real estate related books and listening to Bigger Pockets podcast for the past couple of month and I just cant get enough. I also have poking around on the Bigger Pocket website, reading post, and watching webinars and I finally decided to introduce myself. 

I live in South Fulton, Georgia, a newly created city in South Metro Atlanta. I have read many books and have found that buy and hold rental properties that create a positive cash flow is what I'm most interested in. My goal is to generate enough passive income that I'm no longer depending on my engineering paycheck to support me and my family.

I understand that I have a lot to learn and I plan to soak up as much knowledge as I can. I also intend on helping as many as I can with the knowledge I have acquired through my reading and hopefully through my experience in the near future.

I look forward to interacting with the community. Happy investing!