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All Forum Posts by: Nick Clark

Nick Clark has started 0 posts and replied 4 times.

Post: Stated income loans where to find?

Nick ClarkPosted
  • Homeowner
  • fort collins, CO
  • Posts 4
  • Votes 0
Originally posted by "wellsman":
Yes Wells Fargo is still doing stated loans, but like a previous post. You must have very good fico's, good amount of money down, and great reserves.

... and low DTI

Post: Very Tough Questions from a Newbie

Nick ClarkPosted
  • Homeowner
  • fort collins, CO
  • Posts 4
  • Votes 0

Paul - It is great you have this focus from such a young age. If you continue to work towards your real estate goals then you will probably be one step ahead of most investors. However, the reality is that there is no free lunch in this country (for the vast majority).

You need investment capital. There are no short cuts here. Maybe you can convince a private investor to loan you funds, but more than likely you are going to have to suck it up for a few years - work for The Man, live VERY frugally, and save every penny; all the while staying focused on your goals, reading, attending local RE investment meetings, watching and learning your local market, looking at houses, etc.

Manage your credit carefully. Pay credit card bills on time and in full. If you don't have a line of credit, get one. Start building a credit history, and do not miss a payment. Good credit will be one of your most important tools down the road.

When the time comes, and you have adequate capital saved, you'll be ready to buy a place - maybe a place of your own to turn into a rental two years later, and you'll find that the ball will be off and rolling.

My best advice to you would be to work all the hours you possibly can. Get a job in sales - these skills will help you down the road - try to find work in the housing industry - get paid for work that will help you in your investing down the road - but get work, save and stop dreaming that someone is going to do it for you. Live frugally, and the money will come and you can start investing.

Post: New in CO!!

Nick ClarkPosted
  • Homeowner
  • fort collins, CO
  • Posts 4
  • Votes 0

Hi Tony,

I'm new to the Fort Collins area too. Been here just over a year now. There is a thread in the regional forum specific to Fort Collins. I just found it and posted there. Hopefully, we can get some kind of meet-up going in the near future to talk shop and see where our interests might coincide.

Nick

Post: Fort Collins investors club

Nick ClarkPosted
  • Homeowner
  • fort collins, CO
  • Posts 4
  • Votes 0

Hi Guys,

Just found this site and thread. My wife and I are relatively new to Fort Collins (a year and a half) and have been investing here since our arrival (buy and hold). We currently focus exclusively on Fort Collins, but hope to expand our horizons to Loveland and other areas.

Have you guys put anything together yet? I'd be interetsed in meeting up to chew the fat, discuss leads, etc.

I think the Northern Colorado REI group is meeting this week coming. Don't have details on me now, but if intereted post and I will endeavor to get details.

Oh, and I'm looking for an accountant if anyone has a good referral.

Cheers,

Nick