All Forum Posts by: Greg Aloisi

@Griffin Schermer Everything you said makes sense. We have definitely been talking and trust each other 100% with any future problems. I think at this point having a partner who is a friend and having that is an amazing opportunity. Although some might say just go and do it yourself, well to some that can be scary, we think this could be very fun to learn with each other rather than doing it by ourselves. Whether or not this is the only house we partner on or we become partners for life it could lead to something great and at the end of the day we just have to pull the trigger. Thanks a bunch for giving me feedback and I hope all of your future endeavors lead to success!

@Leigh Jones Thanks for the response those are definitely things think about. A duplex is on our mind as well but we live in a college town and its had to find one in good condition thats not crazy expensive.

So I will try and keep this as short as possible, but let me put out a situation on here that has come upon me. I live in Fayetteville Arkansas, I am currently paying rent in a single family house. My old roommate who is a friend that graduated with me in High School moved out in August of 2020 has recently moved back and I am letting him stay on the couch for a little while, as I have newer roommates who replaced him. He was planning on getting an apartment but has been interested in getting a house because he doesn't want to throw away money by renting. I am in the same boat, ever since we started living together in the first place we were always interested in real estate investing and we are both good with our finances (both are 22 by the way). So long story short he went and applied for a loan and got approved for 70,000 because his temporary job he got is mainly for tips and they could not put that for his income in his application. So he came to me with the idea instead of having a parent or whoever cosign for him for a better loan to maybe go 50/50 with him on a house and be his cosigner. We were thinking of maybe finding a 3 bedroom house for a good price with a low mortgage and possibly renting out the other room. We obviously won't be making cashflow (and we don't care about that right now) but we think that by doing this its a good way to potentially get started and learn the home buying process while building equity and paying low money out of our pocket for the place, and either use the money saved to put into the house or save for future investments. So after all of that my question is if this is a good idea on my part to cosign with him, I am still in the learning process with all of this so does this mean if anything goes wrong in the future am I going to be responsible for things? Is this even a good idea to do at the age we are, especially this being the first property? Should I not partner in my first real estate investment? Should we not jump into this and take the next 6 months to a year to learn more? These are just a few questions I have out of many and I apologize this is so long but I would greatly appreciate the feedback as I dont like to jump into things without the proper research. Also our idea was to keep the place for a few years and rehab it over time to sell for more.

I unfortunately can't help you here but I just wanted to say I am from Mountain Home, I moved to Fayetteville a year ago and its great to see someone on here who deals in that area. Glad to see everything is going well for ya!

So I will try and keep this as short as possible, but let me put out a situation on here that has come upon me. I live in Fayetteville Arkansas, I am currently paying rent in a single family house. My old roommate who is a friend that graduated with me in High School moved out in August of 2020 has recently moved back and I am letting him stay on the couch for a little while, as I have newer roommates who replaced him. He was planning on getting an apartment but has been interested in getting a house because he doesn't want to throw away money by renting. I am in the same boat, ever since we started living together in the first place we were always interested in real estate investing and we are both good with our finances (both are 22 by the way). So long story short he went and applied for a loan and got approved for 70,000 because his temporary job he got is mainly for tips and they could not put that for his income in his application. So he came to me with the idea instead of having a parent or whoever cosign for him for a better loan to maybe go 50/50 with him on a house and be his cosigner. We were thinking of maybe finding a 3 bedroom house for a good price with a low mortgage and possibly renting out the other room. We obviously won't be making cashflow (and we don't care about that right now) but we think that by doing this its a good way to potentially get started and learn the home buying process while building equity and paying low money out of our pocket for the place, and either use the money saved to put into the house or save for future investments. So after all of that my question is if this is a good idea on my part to cosign with him, I am still in the learning process with all of this so does this mean if anything goes wrong in the future am I going to be responsible for things? Is this even a good idea to do at the age we are, especially this being the first property? Should I not partner in my first real estate investment? Should we not jump into this and take the next 6 months to a year to learn more? These are just a few questions I have out of many and I apologize this is so long but I would greatly appreciate the feedback as I dont like to jump into things without the proper research. Also our idea was to keep the place for a few years and rehab it over time to sell for more.

@John Clark Good to hear. I read your bio, hope everything works out for you in the future!

@Ryan Blackstone I will look into it, I appreciate the response.

I am new to the bigger pockets world and the real-estate world in general. I have recently read Rich Dad Poor Dad and it has opened my mind to what you can do investing in real-estate. If anyone knows of any meet ups in the NWA area I would greatly appreciate it if someone would let me know. I would love to network with people so I can gain more knowledge.