All Forum Posts by: Jose Martinez

Hi all, I have a lead on a buyer who wants to get into a lease/rent to own property in Pasadena Tx. Good starter home Preferred zips 77502/77503 They have 10k to out down. Between the 100k-115k range If anyone has something please let me know. Thanks!

thank you all for the great responses. This has definitely given me a broader view. I will search for a deal that matches the numbers i need to make it a win win situation.

@Jonathan Makovsky - luckily i have found a few investors that i can throw ideas off of.

@Anthony Dooleyim definitely marketing on a spartan budget (driving for dollars and also looking at preforeclosure lists) 

@Tim Pufferi found a rundown duplex while driving for dollars and im going to send my first yellow letters this week, wish me luck!

@Ramek Llahthats one of my goal this year is to live way below my means, its def a challenge.

@Brian Turnbough im working on my first letter campaign and i will be door knocking this weekend. i will keep my eye out on the southwest side. thanks for the info, id like to get your input on the Houston market, let me know if your up for it. thanks!

Hi yall, I just finised reading my first REI book "Rich Dad, Poor Dad" and i feel like i need to take action. Here is my first assignment.

 I have some family members who collectively have about 10-15k available to invest. Im trying to find a creative way to grow that asset but my financial IQ still needs seasoning, (still working on my first deal so they wont lend it to me) my question to you is what would you do? Our Market is Houston, Tx. 

I recall a BP podcast where investors lend money, a one day loans during closing for pretty good returns, but i cant remember what this is called. 

I really appreciate any feedback on this, thank you!

Jose.

Jennifer welcome to bigger pockets!! Youre definitely headed in the right direction and the right place. Good luck!! 👍🏽

Rex, thanks so much for sharing this insight and educating us all. Lets hope you hit a home run on the next one.

Thomasine Scott welcome to BP! In regards to your question, from meetups and data ive read in BP and the web, condos are not a good start. You should try a multi family unit and occupy one of the units. With your loan, add a 203k rehab loan roll it all into the 30yr low interest and rehab, get tenants 2-4 units and it will pay for itself. You live rent free and learn about rehab, tenants, landlord and its the same loan as a sfu. Hope this helps, may the odds be in your favor!

Hi @Denise im a new investor as well and im still working on my getting my first deal this year. However id like to follow up with you to see what type of properties or deals you are looking into, inbox me. Btw if youre approved for financing you could also look into adding the 203k loan for the rehab portions. Although you may have to live in the property for time period.

Hi Abdul, Did you find a pm company to help you with your properties yet? Im an investor (new) but im also starting my own PM company.

Hi Charles, and welcome to Bigger Pockets!

Originally posted by @Chris Seveney:

Chris thank you for your input, i really appreciate it. this will def be a good test of mettle for my first deal. i will heed your advice and proceed with caution.

Originally posted by @Rod Yarger:

Rod, thats exactly my next move is to partner up with a seasoned investor that can back up the deal financially. at this point im open to a partnership and just learn about the process as we go. but i def dont want to get into a hot mess over this. i will tread with caution for myself and the seller.

Wayne, you nailed it. I really dont all i have is theories this is my first actionable step, im working on analyzing a deal once a week and seeing it thru. i dont plan on bailing it out. I hope to be of service and make this deal work for me or someone else. this approach ive learned from the BP podcasts. the numbers really work its only the *shortsale* thats making it be a painful process. wish me luck and i will continue posting updates.