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All Forum Posts by: Jose Botello

Jose Botello has started 11 posts and replied 20 times.

Post: Newbie Investor with possible first deal

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13

We’ve been looking into investing into real estate and we have an opportunity to buy a duplex that has a vacant side and an occupied side. We are thinking about living in the vacant side while we build a house on our land we bought. How long do we have to occupy it before moving out? 

Post: Stuck trying to make a decision

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13
Quote from @Jonathan R McLaughlin:

sure sounds like you are investing to me! Congratulations. And if you could make a little money on the timber of that lot....check out Jay Hinrichs' stories of timber investing. 

 If I'm reading you right you already have a primary, so keep it and rent it out when you finish building and voila, there is your investment property. Or sell that and get another.

You will know more than 90% of investors once you complete this project as well. Any chance you could build a duplex or some kind of second unit on the property you bought? Even an in-law would allow for some income and flexibility. 

And you 

I need to listen to that! We do have a primary home already. There’s a possibility to build and in-law suite or some sort of small apartment separate from the main home once we build. Thank you all for the advice!

Post: Stuck trying to make a decision

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13
Quote from @Theresa Harris:

From what you've written, it is clear that you want to build a place.  It sounds like you've been waiting along time to do it, so take the opportunity.

Once the house is built, you could use your current home as a rental if the numbers work. If they don't work, use the money from the sale of the home to buy a rental.

That was plan B. But since I’ve been listening to BP I’m itching to get started! I’m afraid I’m going to have to sell my current home due to the rental market not being the greatest for my little town

Post: Stuck trying to make a decision

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13
Quote from @Scott Mac:

You logged off a whole lot, and made a profit out of it.

I am impressed with this!

Did you do it 100% yourself with a chainsaw and a log splitter?

How did you sell the wood?

That is some serious Daniel Boone stuff there!

https://www.youtube.com/watch?v=e7PIsHh8MXs

Ha! I wish! That would have taken me months and months! I hired a logging company they did it all I just collected my share of sale of the logs to the mill 

Post: Stuck trying to make a decision

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13
Quote from @Scott Trench:

I agree with the other folks. If you’ve waited 10 years to build your home, maybe it’s time to do it!

 I think I’ve made up my mind. I didn’t know about real estate until about 3-4 years ago and that’s when I really started studying and reading about it. The I found BP about a year ago! So it really has me itching to get started!

Post: Stuck trying to make a decision

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13
Quote from @Account Closed:
Quote from @Jose Botello:

Little back story. I Have been trying to get started on real estate for about 3 years now, my wife and I were close to pulling the trigger on a property when a plot of land came up at a discount price. We’ve always wanted land to build on, been together for 10 years. Anyways, we bought the land, cut the timber off of it and essentially got our down payment back plus some. My dilemma is, should I start building or take the money and look for a property? Building would put me at a 5 minute drive to work vs 30 min currently and we would be down sizing bringing our mortgage payment down and we’d be in a happier place. Doing all of this would delay investing. 
Thoughts? Suggestions? 

Thank you all!!

Family First. Build, be Happy.

 Thank you! 

Post: Stuck trying to make a decision

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13

Little back story. I Have been trying to get started on real estate for about 3 years now, my wife and I were close to pulling the trigger on a property when a plot of land came up at a discount price. We’ve always wanted land to build on, been together for 10 years. Anyways, we bought the land, cut the timber off of it and essentially got our down payment back plus some. My dilemma is, should I start building or take the money and look for a property? Building would put me at a 5 minute drive to work vs 30 min currently and we would be down sizing bringing our mortgage payment down and we’d be in a happier place. Doing all of this would delay investing. 
Thoughts? Suggestions? 

Thank you all!!

Post: Renting to Travel nurses/ healthcare proffesionals

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13

thank you for the help, i will look into that

Post: Renting to Travel nurses/ healthcare proffesionals

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13

My wife and i currently have a 3/2 house with full basement. have been tossing the idea of renting to travel nurses since we live about 15 min away from two hospitals. how or where can i see how much i could rent my home for? 

side note, the small town i live in is definitely not as nice as Cape Girardeau where the hospitals are, so i am afraid i wont be able to rent it out for enough to cover mortgage and utilities.

thanks for the help and insight!

Post: New member wanting to get started

Jose BotelloPosted
  • New to Real Estate
  • Southeast Missouri
  • Posts 20
  • Votes 13

Have been researching real estate for about 2 years now. I feel like my location isn’t the greatest for investing. Have looked at a couple of deals even made offers but was deterred by inspection. Is it just analysis paralysis?