All Forum Posts by: Donald Placide

@Kevin Myhre

Miss this past Suffolk meetup, when will the next one happen?

Sound interesting ill try to defiantly attend!! @Eleena de Lisser 

@Nicole (Dunlap) PendergrassHey stranger! I totally remember this story when you first told me about it last year at the BP meetup. I told my brother your whole story later that night, he was shocked to hear all the mishaps the proprerty was giving you.  

You have tons of golden nuggets here , and info for a mini e-book! Either way job well done! you've come a long way from Llew class :)

I like how you have LESSONs earned after every step. when will you be able to Refi?

We are in the middle of refinancing our Jamaica property. we should defiantly catch up...

cheers, 

@Jonathan Steingraberthanks for joining the community, great story! It's sounds like the path I strive to be eventually. I'll try to attend your next meetup group in jan

Welcome '

Check check with a mortgage broker that can shop around loans and have access to several types of FHA programs. That's a good start. Also if your able to put down 10% you might be able to avoid paying PMI (depending on type of loan) which can save money down the line. Cheers,

@Lyndon Princewelcome to bigger pockets !! Tons on free resources, blog, podcast, ebooks, but mostly importantly, a place to network with your fellow investors !

Cheers,

i would first listen to as many BP podcast on whatever topic your interested in, whether it be wholesaling, buy/hold, fix flip. Then attend a local REIA meetings in NJ (there are tons). From there network and look for investors that have the same interest as you.

Always try and leverage free resources before paying for any course. 

@John Roldanwelcome to bigger pockets !

Great commentary from everyone on this thread. I'll keep it short and sweet.

-Worked overtime and saved about 10k in 6 month

-Put that 10k into the stock market

-traded stocks & stock options (puts and calls) for about 7 months - a friend taught me how to trade options.

-Made 7k from my 10k mainly from GMCR stock appreciation and selling naked puts in Twitter at the time.

-Found a local investor/realtor that had a 2 family house going through a short sale.

-Had bad credit (bankruptcy) at the time but good income, I had to use my brothers credit to quality for an FHA loan

-Tons of paperwork, inspections, appraisal, few setbacks and minor headaches but eventually got loan approved.

-5 months later. we were new landlords :)

Point being that i purchased our first property for FREE ! (for the most part) Used very little of my money and avoid capital gains tax mainly using my stock/options proceeds as half of the Down payment for the FHA loan.

I'm leaving a lot of detail out, but overall even though I didn't have cash to invest i created a gameplan while continuing to learn/educate myself about real estate and stock investing, and leveraged my knowledge until the right time/opportunity presented itself.

Cheers,

@Shomail Malikwelcome to BP! There is a ton of NJ investors here on bigger pockets. I'm currently marketing in the south jersey market, talking to sellers daily, what's area are you looking to do deals in ?