All Forum Posts by: Juan Erick Rico Avalos

I though i've put this deal out there for investors. Would make a great flip or rental! The seller seems to want cash only but us bigger pockets members know how to get past that!! I am unfortunately not in a financial position right now for a new property. Do your due diligence and run the numbers!

@Shiloh Lundahl In my OPINION a better way to put it is to have reserves/emergency funds to assist in case something comes up like a big repair or eviction. I wouldn't put an exact number on it since every deal is different, depends on units/market . I agree with you overall message but a huge amount of these expenses could be taken care of during due diligence/ tenant screening. A statement like this could discourage someone from pulling the trigger on a deal. I believe due diligence and tenant screening is what can really make or break a deal. Don't get me wrong tho reserves are a must just not a universal number for everyone. 

I would say it's all about how much skin you got in the deal. If I invest 100k it wouldn't make sense to only make $100 in monthly cash flow. Let's say I only invest 10k and get $ 100 a month that's way better because i'm getting a 10% cash on cash return on my money.

@David Avetisyan,@Parker Eberhard, @Theresa Harris,@Jonathan Greene, Thank for taking the time to reply, This helps me a lot, this whole time i've been thinking that my trade is not part of my goals as a real estate investor but it is. With out welding i wouldn't be able to invest, i wouldn't have the money to do so. This next year i will focus more on getting my welding degree so that i can start my career and invest. I will continue to learn and educate myself on real estate investing until i get my degree. I can always get a part time job as a lease consultant when i start woking as a welder.

Hey, I aM 19 I have been going to trade school for a year and a half now. I still have a year left, for the past 6 months I have been obsessed  with real estate investing i love the idea. I can't stop listening to podcasts, reading forums and books on this topic I really do think its my passion. I am so passionate about this that I can't stop thinking about real estate investing and what a great opportunity it really is. My problem is that I have realized that I no longer wanna be a welder it doesn't intreg me as much as real estate. I go to school in the morning and work a fulltime job as a security officer at a hospital. I am so far into welding tho that I don't wanna to just leave it just like that. It feels like i've wasted a whole year and a half of my life. I instead wanna start applying for leasing consultant jobs in my local area. This would be a morning job which is when I have school. So I feel stuck, I know I need money (in most cases I know there  no money down deals but can be hard to find) to invest and welding could provide that for me but now i feel miserable when i'm at school doing something i don't wanna do. Being a lease consultant would give me a lot of knowledge on real estate but this would mean switching career paths. Being a leasing consultant sounds like something i would enjoy but at the same time maybe i would like it then that's next. I feel like i am over complicating things but it hard for me because ever since i was in school school i wanted to be a pipeline welder but reading rich dad poor dad really opened my eyes. What other careers would be good to get into real estate? I really appreciate your advice and thank you for your time tell me the hard truth.