All Forum Posts by: Jeffrey Daguro

Hey! @Stefanie Johnson Sykes 

Based on my research and studies, I've heard you can do an FHA loan with as low as 3.5% down payment.

For example, on a $100k property, down payment will be $3500k. Depending on location, I believe $100k properties do exist in the market, depending on the location.

However we have to analyze the market of that location before we invest. But I mean I know there are $150k properties out there in the Midwest and I believe $200k to $250k properties are also attainable with all factors considered - imagine with 3.5% down payment through FHA loan, you only put down $8k to $8500k.

So I’m also thinking of investing out of state. My mindset is start small, network with the right people and let it snowball to this wealth building investment. 

Good luck to you and your husband! Please keep me posted with your guys plans! I was hoping to get more feedback from the community but we’ll just wait and see what the rest will say. 

Hey BP Fam,

Hope you all are doing well. These past few weeks have gone by as I'm learning and studying REI. I've had some thoughts that's been running through my head on how to go about purchasing my first investment property.

I really like the idea of rental properties, especially for multi family properties, apartment complex, condo. With that said, just to briefly summarize my current situation. I have a property that I share with my parents and my wife, it’s our primary home - purchased earlier this year - essentially the mortgage is split between my wife and I and my parents.

I've been trying to juggle and brainstorm creative ways I can do to fund my first deal. I can work another job to earn more income? Partnership, HELOC and cash out refi (although I don't think this would be great idea right now since we haven't gain much equity on our property). I understand there are more creative ways (legal ways, of course lol). I also understand the importance of cash reserves.

I’d love to hear your guys thoughts and feedback and what you guys would do if you were in my situation. Definitely can learn more this way and think more outside the box, so to speak. Looking forward to hearing back from you all! Thanks in advance!

Love and Peace,
JD

@Justin Windham

Hello there! Appreciate the warm welcome and helpful tips! Looking forward to connecting with you or possibly working with you sometime somewhere down the road!

Love and Peace,

JD

@Dan Guenther

Hey Dan! Thank you for the word of advise. That’s much appreciated! I’m on episode 11 of the BiggerPockets podcast and listening to Rich Dad Poor Dad driving to and from work — I’ll tel you, it pretty much solidified my thoughts about the “system” of this country. Wish I learned it then. But that’s the beautiful thing in life, we continue to learn not matter how old or young we are. Also I’ve been diving into Rookie Podcast by BiggerPockets. Lots more to learn. I’ll definitely reach out. Thanks for the support! 

Love and Peace,
JD

@Kayla Givens

Hey there fellow food lover! BiggerPockets has definitely opened my eye up even more into Real Estate. Thank you so much for sending me your positive vibes and support!

Haha one of the goals are to obtain funds to support my food truck with wealth and success gained in Real Estate. Will keep you posted! :D

Love and Peace,

JD

@Peter Mckernan

Thank you sir! Absolutely motivated and here for the long term growth in the industry! Thank you for the advise. I am definitely referring to this website a lot, listening to the podcasts, reading books and continuing to learn from seasoned veterans like yourself. 

The BRRRR method is a wonderful idea. For now, this property will be for a long term personal residence flip, but we shall see! Which leads me to ask you for your advise, here are my thoughts and plans for this property: bought this property, front yard and back yard were pretty much a blank space - which we loved because we can totally customize it to our personality and liking - in fact, we just finished our front yard landscape earlier this month (pictures are below), want to work on the backyard next, in due time of course.

So in hopes of forced appreciation and equity, I'll refi the property in the next few months and use the equity to re-invest in another property?

I don't know if my thought process on refinancing makes sense or if this is even possible. My thinking is I can use the refi option to my advantage and re-invest for another property. I'm not really knowledgeable about the topic of "refinancing" just yet. But feel free drop knowledge on me. 

Thank you sir! 

Appreciate you taking the time in reading my post!

Palmdale and AV is definitely very promising in terms of investing. That’s actually part of the reason we decided to purchase our first home here.

In regards to house hacking, so we in fact purchased this home with my parents. So mortgage is split. I definitely agree with networking - this played in role with my career in the healthcare field for the past 6 1/2 years.

Yes sir! A whole lot of knowledge to gain. Gotta get them LAPS in! Absolutely love to connect one of these days. Thanks brother!

Love and Peace!

JD

Hello BP Family!

Just want to quickly introduce myself to the community, my name is Jeff. As stated above, I am a rookie to this Realm of REI and I love it!

A brief summary about myself, I’m 30 and currently employed as a Nurse. I’ve always dreamt of having my own business - food truck to be specific - serving authentic Filipino food. I’d say cooking is a passion for me. I’ve always found joy in seeing people smile when they eat the food that I cook. Okay, enough about my food venture.

Let’s talk about Real Estate, deep inside I always had a hidden passion for this business. A brief summary, purchased our first Single Family Home back in March 2021 in Palmdale, CA - shouts to my agent for helping us! My agent was great, treated us like family and with respect, established a friendship and I told him that this is something I’ve always looked into but needed that PROPER direction and guidance. In fact, he led me to the BiggerPockets forum/podcast! And encouraged me to listen from the beginning - and I have! Just finished episode 9 or show 9 lol! Shouts to Josh, Brandon and David and company! Y’all are great! Thank you honestly for utilizing your guys platform to help certain individuals who are starting and learning this stuff on their own. You guys simplify and explain subjects at the simplest terms possible. 

I know I have ways to go, lots and lots to learn, but definitely in here for the long run! What entices me the most right now are Rental Properties, condos/townhome, SF or multi family. Possibly even flips/BRRRR. But we'll see! I'm reading this book on Rental Property Investing by Brandon Turner as well as How to Invest in Real Estate by Joshua Dorkin and Brandon Turner. Rich Dad Poor Dad is also on my list.

Anyway, don’t want to take up too much of you’re guys time. Please feel free to drop knowledge on me, any tips/advise, recommendations on other books that you think will benefit me in the long run (I know there’s tons of RE related books out there) while I’m on this journey to reach my goal of financial freedom and exponential growth!

Love and peace! 

JD