All Forum Posts by: Sam Epperson

Oh man. just saw this post, and it had two different meeting times. one was for tonight and I got excited i could come tonight!  

Positive news, though: just got an interview for a property manager position at a local apartment complex, which is step one of my plan to become an actual investor: (learn tenant law and how to become an effective landlord/problem solver)

Been searching forums and blog posts to find this answer with little luck. First: Can I purchase a foreclosed home using an FHA loan with a 203k loan to rehab it?

Second: If so, is the amount of the loan the value of what that property would be on the market?

Example: home is worth $100k, is in foreclosure for $60k, would need some repairs (and use 203(k) loan for these). Would I get an FHA loan for $60k and put 3.5% ($2100) down? Or would I have to get a loan for $100k and put $3500 down?

I'd plan on living in the property, rehabbing it, renting it out later.

@Theresa Nicoletto thanks for the great reply.  Not manager right now, and i'm not sure i could handle spending even more time at the company. Just biding my time now. I believe i can use the extra earned income from Uber in the evenings to put towards a down payment on a first house. I'm in this to hustle, that's my plan.

It's tough right now, my local REIA won't meet again till january, and the one in Indy is the same. So right now, I'd like to be able to put some money in a safe place so that when I've learned some more, or made some partners, I'll be able to bring something to the table. I like your idea of being an investor's assistant. I'm very organized and good at problem solving.

This is me just working through HOW i'm going to get this done with basically nothing, and also when. It's no longer an "if".

Hi everyone! 

I'm looking to start investing ASAP, but I have absolutely no money. I work at starbucks, and have some money saved in 401k, but honestly it's not going to be enough. Have a car that's too old to drive for Uber, however I think i could get a deal on a newer car to start making money on the side to start saving up.

My question is this: Should I start trying my hand at becoming a real estate agent to bring in some initial funds? I don't think I want to be a full time agent for the rest of my life. I want to become a landlord with multiple rentals. What paths do I have available to start learning some aspects of investing while also making some side money to use for deals? I want to eventually phase myself out of being an agent and go full time landlording.

What are some downsides to becoming an agent while also trying to be an investor?

Hey Guys! So sorry I missed the meetup, have been pretty sick lately! I wanted to catch you guys up with my tiny bit of news since we met in the library in September. I bought Brandon Turner's  "The Book on investing in RE with No (and low) money down," and have read it twice. Bought Rich Dad, Poor Dad, and have read that as well.  What I'm saying is I'm trying to educate myself as much as possible, always finding new material and learning. 

I Am still looking for a mentor, always. SO: If you are going to be doing some deals this coming holiday season and you're SUPER BUSY, or you'd just rather not go and do some task that's way below your skill level, LET ME KNOW! I'd love to do some dirty work, make some connections, get some things done for you! No Charge! I'm just looking to learn. 

PM me for contact info if you'd like! 

(Can travel up to 2 hours from Bloomington!)

Hi @Louise A.! Thanks for the compliments. I'd really love to get  into investing in any way possible. I'm of course open to different strategies than just wholesaling, but I may just have that bad opinion of it being the easiest to break into. I'm always looking to help and learn in any way possible, so if you or someone you know is looking to take on some young talent, I'm available to meet up anytime.

Hi! My name is Sam Epperson. I'm a VERY new beginner to investing. Originally from Indianapolis, IN, I currently reside in Bloomington, IN. I'm full time managing a starbucks, with 5 prior years experience managing various restaurants. 

My real estate interests are in wholesaling initially, with future plans to own rentals of various kinds.

QUESTION:

I want to learn hands-on, and face-to-face, with experienced investors who are already doing what I'm doing. Is it out of place to try to network with/ask investors if I can be involved with each step of the wholesaling process ? Ideally, I'd like to talk with someone experienced, maybe go drive for dollars or scour Craigslist, find them a few properties, and give them that information. From there, I'd like to see how they contact the seller, who they use as attorneys (if at all), which lenders (if any), what the actual document and paperwork situation looks like, how they get their buyers (if wholesaling), how that paperwork situation looks like, etc etc. 

Is it wrong to ask if I can be a part of that whole process with another investor as long as they're not paying me? In the future, of course, I'll be networking with them because they'll be a valuable part of the whole business. 

Do people do this? Take on "interns" if you will?

Hey guys! Got stuck solving some problems at home. Anyone up for a one-on-one in the next week or so?

@Thomas Landis Hi, is the upcoming meeting open to new members? I'm interested in attending. What do I need to bring or be prepared for?

Sounds great! I'll look forward to it!