All Forum Posts by: Account Closed

Hi everyone.

I purchased my home about 4 years ago with the VA loan so I didn't put any money to move in.. I am currently in the process of purchasing my second home with about 40k in equity on the first.. if I rent this home out I will cash flow about $200 a month.. is that a deal considering I put no money in? Or am I better off selling? I have probably spent about 10-15k over the 4 years in upgrades and updates on the home since we have been living in it.

What’s the cash flow personally look for?

Hello. Recently attended the new wealth advisor club meeting and signed up for the 3 day training. Didn’t seem to expensive compared to others I’ve seen. It’s 2400 for the first year and gives for 3 day training plus ability to be mentored 1 on 1 or bring deals to the investors and get a 5-10% commission. Sounds like you get what you put in but thought I’d reach out to people who are currently or were once part of the club and see what the opinions are.

@Jeffrey Grieshop very true. I recently attended a seminar that a lender was speaking. He said they do work with people new to real estate but with no relationship they typically require you give 20% and have a full business plan. And of course if you continue using them you can start getting perks like 5% down or in some cases 0 down.

@David Pere I will be in Irvine September 9. Sept 10 and sept 11. If any of those days work I’d be easily able to meet. I am a reservist and train in the Irvine area so if September Isn’t good, I’m in town monthly.

I read your profile and would love to learn from you and be of value however I can. My ultimate goal is BRRRR investing and mainly focused on learning that side of things. I'm not looking for any kind of a handout, just want to learn the business while being of value to you (or trying to be anyway lol).

@Mark Gonzalez anyone you could stay with for a bit. Last option would be stay with someone who is willing to help with low or no rent costs and rent out your room also.. FHA police ever come by and check if your still living their? Just leave some mail going to that place in your name

@David Pere I will be down in irvine sept 9-11.. would love to meet up for coffee or some in n out in the evening (when traffic dies down) and of course I would come to you.

@David Pere thanks for the invite, but no I’m in Victorville.. near ft. Irwin. I wouldn’t make it on time. Specially with traffic down the 15

@Sean Kosmann that actually does help.. I've read about the BRRRR method but never understood the refinance part. I questioned why people would want to raise the mortgage and eat at the cash flow.. but the 80% part makes so much more sense. Get some cash but still stay under "retail" and keep equity... my issue is I live in Southern California.. homes under 200k are pretty much extinct and hard money lenders want 20% up front.. that's allot of money I don't have. I've been looking at mid western market, Detroit and Indianapolis mainly because I do visit Indianapolis annually for FDIC conference. That's what scares me. Doing this for the first time alone and another part of the country. Im looking for investors around my area but they all have some kind of program that will make me a millionaire. I'm going to do this.. I'm just worried if I'm getting to a point that I'm getting analysis paralysis.

Would a turn key be a good place to start? Roofstock? If so, is it worth draining my 401k for a turn key?

Hello everyone,

All my life I’ve been dreaming of being a “landlord” it always sounded really cool to me but I was raised by parents who worked. My dad was an immigrant and worked for less than minimum wage and mom always taught me to stay away from debt and pretty much work until I can’t.. because of life struggles and not going to college I joined the military and deviated from my dream.. now I’m a home owner and support my dad (who is disabled and now in college) and wife who is also in college.. I recently attended a seminar about investing and became extremely motivated.. gym at 4am because I can’t sleep motivated.. I started readying a book (I don’t read) watching videos and listening to podcasts every time I’m in the car. But since I support 2 adults and 2 rescue dogs money Is very tight.. saving has been extremely tough.. I learned to work on cars because I can’t afford the maintenance on 3 cars. Ok this is turning into a sob story so let me stop lol I say all this to say I’m looking for a friend. Not a handout. Someone who is willing to donate their valuable time and mentor me. Books and podcast keep me motivated but I’m a hands on learner and have too many people counting on me to fail right now. I need to see the process and ask questions in real time to really understand. I can invest my 401k when it’s my turn.. not much but it’s all the savings I have. So I’m just putting it out there, Anyone looking for a best friend (or assistant) in Southern California? Lol