All Forum Posts by: George Torres

@Steve Haight Thanks so much for the response. I literally just got started educating myself on this so my answers may seem a little fuzzy, but this is what I was thinking:

-I plan on finding my inventory by contacting a county's tax collector/treasurer's office and requesting a list of parcels that are delinquent on their property taxes but are owned free and clear (So there's no mortgage on the property);

-Exit strategy: Craigslist, Postlets, Zillow, etc (Too simplistic??)

I'm embarrassed cause I know there's so much I don't know but I hope this answers your question. Any thoughts on how I can improve my plan or how to best go about working it? I'm really looking to get started ASAP 

Hey guys, like many of you, I've listened to Ep 39 of the BG podcast, and am now obsessed with the idea of buying super cheap land and flipping it. Some of you might remember from my other post that my credit isn't so hot so being able to get started in REI with the money I already have is extremely appealing to me, and some of you I bet are in the same boat.

I live in LA but I have family in the Poconos (PA) and in Orlando. I'm wondering if anywhere near these markets might be especially ripe for flipping raw parcels of land?

Secondly, does it even matter if I or someone I know can see the property? Is land typically flipped in absentia completely? Should I pay a photographer off of craigslist to go out and take pictures? Any help you guys can lend me would be so appreciated! Thanks!

 Thank you!

 Good advice, I think! Thanks so much! I appreciate it.

This might be a dumb idea, so forgive me. My credit is terrible but I make good money and I'm looking for a way to build credit fast. I was thinking of taking out an auto loan instead of paying for my car in cash for the purpose of paying off my loan within 6 months and thereby (hopefully) help repair my credit score so that I can be in a better position to take out a loan and invest in RE. What do you guys think? Thanks, and again, sorry if this is a dumb question :)

Hey Guys! I'm a 25 year old sales manager for nutritional company in Culver City. I recently decided to get into REI and am devouring everything I can get my hands on information-wise. I have enough money for a downpayment saved up and I need a mentor to help show me the ropes and put me on the right track to getting started. I'm looking to get started by flipping my first property. My goal is to do 4 deals in the next 12 months and then get started with rental properties.

What I can offer are a few things:

-Salesmanship. I LOVE cold calling and I'm good at it. If there's a way you can use that skill in return for your time, patience, and mentorship let me know

-A great attitude, willingness to learn, and a hunger to be wildly successful

-My time and labor. Whatever you need me to do. Wash your car, get your coffee, sweep your floors... I'm willing to do what it takes to learn from someone who can really help me get to where I wanna go

If you're interested in learning more about me or what I can offer you please let me know. I live in the heart of Hollywood right by the Chinese theatre. Thanks!!

Hello! I'm chomping at the bit to get started with my first REI. I'm looking to buy a single family home in the LA/Orange County area for about 180k (i.e I'm looking for the real value of the property to be around 240-250k). What areas should I be focusing my attention on? Should I look a little farther, if so, how much farther? Thanks so much!!

Hey guys, I'm a young investor and I currently have about 95% of my savings in my 401k. I no longer work for the employer I had the 401k with (if that even makes a difference, I don't know). But I really want to get started in REI and am considering using a portion of my 401k money to pay for the downpayment, repairs, etc on my first flip and maybe on my first rental as well... I'm scared of having to pay the 10% penalty I think may be associated with withdrawing my funds early...

-Is it worth it to go ahead and do it and bite the bullet on the early withdrawal penalty?

-Is there any way I can use my 401k money to finance my investment without paying the fee?

Thanks so much for your help! This BiggerPockets community rocks!!

Wow! Thanks so much @Tyler Alberson, this is so helpful. I'll continue doing my research and develop a more clear picture of what kind of investor I want to be.

Hey guys, I'm an aspiring investor with a good salary, ample savings, but terrible (sub 600) credit. Should I hold off on investing and focus on repairing my credit or is there still a realistic way for me to begin investing? Any help would be so greatly appreciated, thank you!