All Forum Posts by: Emmanuel Cano

I am interested in becoming a Home Inspector. I am new to REI and looking to grow my portfolio but in the meantime I want a job that will help me in my REI journey as well as provide some income. Anyone know anything about this position/industry? I don't know much about it so anything is helpful! Thank you!

 I can relate, I started my company in 2007, although I have found properties for others I haven't started doing anything to start/grow my real estate investment portfolio either. I too am stuck in analysis paralysis. I recently moved to Miami, Florida for a job that offers more financial stability until I figure it out. Idk if I have to transfer my businesses to Florida, to avoid breaking the law. So I haven't done anything yet. I'm praying for us both. Good Luck.

1. Be patient. I spent around 2 years reading books, listening to podcasts, and participating in forums before I did my first deal. Looking back I'll admit that was excessive and I definitely reached analysis paralysis, but it got me VERY mentally prepared and to date, I have never lost money on a deal (knock-on-wood).

2. If you're giving up after analyzing 50 houses, this might not be the business for you. I analyze 50-100 deals a month, I'm constantly writing offers, and probably only 1 in 20 offers get accepted.

3. Build your credit, start saving aggressively, find ways to increase your income so that you can increase your savings, and continue to educate yourself on real estate investing along the way.

Hi @Emmanuel Cano I know you mentioned that you don't have good credit or money to invest but one thing you could consider is to partner with someone.  Find a deal and let them bring the capital.  Also, you could look into house hacking if you could get a multifamily property.  Additionally, while likely a different strategy you could look at turnkey properties.  

@Emmanuel Cano you have taken some action but you have to take more. Get comfortable with getting uncomfortable. Can you rent out a room in your house to build up capital. Can you take a heloc to access equity? Analyzing deals won't get you any further. You have to start working on figuring out funding. Find a local meet up get some momentum going and learning new methods and ideas. Like STR your house and stay at a friends on the weekends or STR a room or LTR a room. Pull equity out if you can. Work on fixing your credit just do something in addition to analyzing deals. RE isn't fast but it is really slow when you don't take the next step.