All Forum Posts by: Johnquel Jones

@Justin Owens and @Abel Curiel, thank you for your responses. I do believe I will take the route of going through the blog, asking questions in the forum, and watching the podcasts. I want to get a good grasp on finding markets to invest in that would allow me to have a solid base and not get knocked out--before I even start.

How long must you stay in a residence under an FHA loan?

I am a new REI from New Orleans(really Chalmette, LA but others only know N.O.), Louisiana. I have been on BiggerPockets for about a week now and had some questions regarding the forums. I currently have no money-just finished college-and I start my career in Accounting in about a week. However, I see that BiggerPockets has great reading material that could help me further my Education (The Book On Rental Property Investing)-I am currently in this stage of my development. In any event, I understand that BP allows you to find investors for various deals you are thinking about purchasing in RE. My question is: Am I allowed to find investors to help further my BP Education? If I am able to, I want to provide proof that I am using funds for what I say I am going to use them on. I am trying to get creative in expanding my knowledge in the Real Estate arena. I am currently watching the Ultimate Beginner's Guide to Real Estate Investing now and would like to acquire the Book on Rental Property Investing. I do know it is possible that you might think I do not need the material. I thought I might ask to get approval first. Maybe a GoFundMe account or something for BP- who knows?? Any advice? Also, asking family members is not an option since they have their own financial situations.

@Tim Johnson My thoughts exactly, I am definitely going to look into it--like, right now!

@Jeff F. They have several duplexes where I live, Chalmette,LA, that are listed. I know for a fact that the neighborhoods are safe. Fortunately, for me, most of the places around where I live are safe and many people look for reasonable homes or apartments to rent here. The only thing missing is to run the numbers. Great suggestion for the FHA.

@Tim Johnson I, personally, would have done the conventional because I do not know any better when it comes to financing. But, I am trying to figure out how I can finance a deal with a lower down payment possibly or some other way. I am rather green when it comes to financing. The reason I would like better knowledge on the subject is because I do not want to wait 1.5 years to get started. I would prefer getting started within the next 6 months if not for figuring out how to obtain funds. I am still in the learning process and understanding will come with time. I also know that understanding will come with action as well-when reasonably backed by a solid foundation, continuous education, and a proven analysis of a property. Long story short, as of right now, I would have did what you have done.

@Nicholas Armstrong, sounds like a plan. We should definitely stay in touch. 

@Michael Enriquez glad to hear you made the impossible, possible. You just have to be an inspiration to those around you. Once they see you produce, they will, hopefully, want to produce. We cannot all grow up to be a lion, but someone still has to lead the pack(or pride if you prefer).

@Nicholas Armstrong and @Jered Sturm, now I am PUMPED. I am about a week or so into my REI journey. I am currently in the Education stage of my journey. The articles are great, I google terms I do not know or have a hard time finding, and the community is welcoming and helps out a ton--even if my questions are asked by someone else! I began by reading the Ultimate Beginner's Guide to Real Estate Investing. Needless to say, I am not the fastest reader in the world. Once I figured out that the guide was on video? Game changer! I am currently watching it and ,between sections, I read some articles as well. It's really fascinating stuff! I am excited that you two are on the road to success and can serve as an inspiration to those of us in the same age bracket.

I am with @Nicholas Sparks, @Tim Johnson. How did you finance the deal?