All Forum Posts by: Jose Alvarado

I believe the idea is creating a situation where you can comfortably live you life and make it sustainable for you. 50k a year in expenses? Ok, how can you set up your life to better be like that.

Very successful people can still lice their life lavishly but it is all sustainable (or should be) by the life they create.

Is your goal to go as quick as possible with the least amount of risk? Then you may want to follow the "set for life" way and save money.

If your goal to create as much cash flow as it takes to fund you're lifestyle, you may become a bit more creative in how you work on your business.

Your business at the end of the day should be frugal in nature, because that has shown long term success for many people, but if you wish to look at how you can set up yourself with a business that funds YOUR goals and lifestyles, then go for it. You will just have to be more active and creative!

It is really hard to tell because human relations are complicated. We can only really go off the numbers only if we were to give you advice on whether your realtor is doing a proper job.

How long did that comp take to sale. Was it marketed the same way, at the price it went for. Was it listed lower?

How much communication is good for you. Is your agent clear on how much communication YOU need? 

How about your neighborhood. Are your houses the best houses in it? If so it will just be harder in general.

At the end of the day go with your gut. It can save you a lot. But if you and your agent haven't answered or attempted to answer the above questions there may just have been a misalignment of focus.

If you are finding properties willing to do owner financing, you could ask if you could ship that to another person and send it to another investor who is more financially able. Save that money, make sure you are clear of debt, and when you are in a position to buy then do it. 

But it sounds like you currently aren't, so I wouldn't recommend it until you are more stable. That means a target market, good cash aside from just your real estate, money in the bank for emergency, and little to no debt.

Yes, at least in my state(Washington) the lease is unaffected by new ownership. You could consider incentivizing tenants to leave, buying them out for a couple hundred. Check the original lease terms and see if they work for you, and also check local laws and see what they have about how much notice you need to either change or terminate a lease.

How did you get the 30k and 0 percent. Loans or?

See if there are large investors in your town. Ask if they use any. Go to the biggest firm with the best reputation and ask if some of the agents are investors. There is a good chance that they are. At the very least many of these people can send you to the right direction!

I started last November and have learned quite a bit. I can definitely throw out tips and tricks. Feel free to shoot me a message. Good luck! I have also gotten my license and have gone through the hoops of mortgage financing, so any assistance feel free to ask. Otherwise, good luck!

I think I have a fundamental misunderstanding here... I am looking for neighborhood data that would classify it based on crime rate, close neighborhood, etc. Thanks for that site! I was wondering if there was a universal site to classify how good a neighborhood is, or if it is more or less appraised by the person looking into the neighborhood.

Hello there,

I am currently looking at appraising properties out of city for possible rehabs. Other then using a real estate agent for that city, what are good sites or ways of finding out what neighborhoods a property is located in? How can I determine a "B" tier, "C Tier", etc type neighborhood we often hear on the podcast?

I currently just did exactly this. I'll reiterate my pro's and con's for doing it. To note I have bought a house and am house hacking, and am working a full time job at night, so currently I am doing real estate part time for the time being. I have only had my license for about 3 weeks now, but I can give useful information to those just starting out!

Pro- Really cheap education. I used online method and it saved me a lot. I used train agents, and at the time they had their course about 50% off. With an online code I paid $75 total for the education for my state. Long story short, you can find deals with online sites. Just make sure they are state approved and that you have looked for coupons, discounts, etc. 

Pro- You get access to the MLS. This is your best tool bar none. This gets you access to houses, at the quickest rate, right when they hit the market. You can set notifications for your or other's preferred houses. It is awesome. It is a tool and an investment. I'll reiterate. It is awesome. For you, for friends, for fellow investors. Use this tool.

Pro- Depending on your firm, you will meet a lot of awesome people interested in the same general scope that you are. With a large enough firm you are bound to find people who have done exactly what you want to do. It is awesome in connecting with people who work at stuff you do.

Pro- If you do get full on in investing, it is likely that you will be able to find, track and locate deals that you know would work for someone. You could do a lot with these. Refer them to other people. Whole sale them. Buy them. Etc. 

Con- Yearly costs. This is a minor con, but if you don't plan on investing, they can and will have to be budgeted for. Is this an investment for YOU? Factor it in, see if it is worth the costs.

Con- Time- If you do plan on selling, get ready to be floored by how much there is to learn. There is an insane amount. Can you set aside time every day to work on a bit of education. Are you plan oriented and focused? Can you stick to that? Important questions to ask.