All Forum Posts by: Jessenia Munoz

Hi all! I'm coming back with an update (a little shift in perspective from my first post) and also some tips/advice.

I initially came to BP with the a goal of buying and holding MF units in the VA Beach and Newport News areas. Due to the fact that I don't have the capital, I approached my dad because he's had some (failed) rental properties and experience under his belt; not to mention, the capital. Now, although he has the money and experience, I have sufficient more "book knowledge" and have done more research that can supplement his experince. I told him that if he puts up the capital, I'd be more than willing to do all the due diligence and work that it would take to find the deals, tenants, find contractors, etc. without his paying me because I would gain significant experience in the process and simultaneously, he would profit. After some more conversation with him, he mentioned he might look into wholesaling as opposed to rental properties because the ROI on rental properties is very minimal (and I don't disagree). Like stocks, rental properties can be more of a long-term investment whereas with wholesaling, one can make quicker money in larger amounts. Both avenues require a substantial amount of work, both require time and effort, both require a set of skills (different for both), but with rental properties, one can expect a steady flow of income (hopefully), every month, on the same day, with minimal work. With wholesaling, if one isn't actively searching for deals and bringing people together, there's no cash flow.

These are juse speculations based on research I've been doing and people that I have talked to because again, I don't have a bit of actual hands-on experince under my belt. Any tips on which route I should look into pursuing or is this more of a personal, subjective decision?

Thanks in advance for the input! :)

@Danielle Brinson Thanks! It's unfortunate that I missed you but that defenitely wasn't my last meeting so I'll most likely be seeing you around! :D

@Tyler Carter You can only attend the Christmas party if you are a memeber. If you want to become a memeber, you have untll December 15th to sign up and be able to attend the Chrismtas party. The price for memebership is highly economical ($120 per year if I remember correctly) or it can also be paid in monthly installments (like a subscription) but if you pay monthly, the total annual price would exceed the one time payment of $120 by a few bucks. 

@Shawn Hoffman Let me know how you like it! I'll most likely be seeing you there :D

@Almateen Yazid what are those areas that you'd say I shouldn't go near? 

@Almateen Yazid I've found that a number of people have confirmed what you've said about the ROI in the Virginia Beach area. Seems like one really has to dig deep to find those "gems." Have you any experince in the Newport News arena?

These two markets are the ones that I wanted to start off with (but I'm open to changes if I find otherwise).

@Erik K. Hi Erik! We might've seen each other because I was there as well! It was my first one and I also acquired some pretty valuable contacts. 

Hi there! I actually attended my first Tidewater Real Estate Investors Group (TRIG) last night that also meets once a month for 10 months out of the year and I would recommond it to anyone. They meet at the Holiday in at Virginia Beach and they provide a wealth of resources for new and old investors from RE agents, to CPA's, to contractors, to attorneys, etc. as well as the invaluable resource of networking and learning from other investors alike. They change up their meeting platforms, sometimes it's for networking, sometimes they have international speakers, sometimes they have a panel of professionals of certain niches, so there's something for everyone.

I suggest you check them out! They won't be having a meetup in December since they'll be hosting their annual Christmas party but be sure to atternd their meeting in January :D

@Luncy Jeter That's actually very good to know.

@Doug Van Liew Makes sense! I'm starting off pretty aggressive with my assessments and I'm planning to keep the momentum all the way through. I know that buying and holding may take some patience tenacity but I'm willing to give it everything that I have.