All Forum Posts by: Frank Contreras

I have no real estate experience, but I do read books on real estate investing. I would really like to take my real estate experience to the next level. What have all you more experienced investors done to go from reading to next level what ever that is? Should I be enrolling in real estate courses to get my real estate agent license and learn the buying process, or is that a waste of time and money, when investing doesnt require a license? Should I be enrolling in real estate investing courses provided on the internet, or are those a waste of time and money as well and I can get better info on bigger pockets? Or should I be finding my mentor, that will guide me and save me a couple of years on the learning curve? My current situation is like a lot of average people, I have a family I support, with a house bill, car bills, school loans and med and credit card bills. What have you more experience investors done to get out of the rat race of life and into the world of real estate investing?

Hi Everyone, 

Can we really get a loan from bank and not pay any down payment?  When getting quotes from different sources, they all require some type of down payment. Since I'm just getting started, I don't have the full amount of cash to fund entire project, like the season vets on here. I have read books stating "No Money Down, USE OPM". Can we really get sellers to pay our down Payments for us or is everyone just refinancing there current mortgage so they can start there investments or asking family members? How did you or how are you funding your  current or first project if you didn't have the full cash for starting out? What strategies are you all implementing to get your projects funded, when your not wanting to use your own cash?

The houses your flipping, are you getting bank loans or paying cash out of your own pocket? Are we able to flip house we're getting conventional loans with and selling them like  1 or 2 months down the road for profit? There isn't a rule stating we have to keep the house, if we get a loan through a bank right? My Newbie plan is to flip houses until I have enough to buy a house with cash and hold that property and just continue the same process, until I can quit my day job. Any help is appreciated! 

Terry and Ingrid, thanks so much for the responses.  

Was looking to purchasing forcloser homes on the northeast side of El Paso. Any El Pasoans on here with rental properties on the northeast and if so, are your rental properties providing good cash flow? Should I be looking at better locations like the 79928 and 79936 areas? What strategies do you use when looking for rental properties in El Paso?

Thanks for the support Khoa, I'll be planting that seed every day!

Hi everyone, currently taking action steps on purchasing first rental property. Have ran into a road block, my wife isn't really confident in taking the plunge with me. I've told her we would do our homework before jumping into property and that she's right with thinking we'll run into some kind of obstacle down the road. How were you able to convince or at least get spouse in on the adventure, that could possibly lead us to a very rewarding life?

Hi @James Wilson Welcome to bigger pockets! Remember if you think it's a shark tank, it'll be a shark tank. Those five started the same way we did, at the bottom and eventually made it to the top. I'm currently a newbie as well and have been a member for a couple of days now. Bigger pockets has helped me change my game plan in investing in real estate. Are you currently working in the property management field still?  I'm pretty sure that'll help you at in your journey to becoming a real estate investor!

Good luck and Welcome!

Francisco Contreras

This is so cool! Thanks for posting this, would love to have a mentor like you!

Awesome!!