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All Forum Posts by: Karen Coffelt

Karen Coffelt has started 1 posts and replied 38 times.

Post: Newbie wants a better life

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

@Alexander Felice thank you for your words of encouragement. I do know that many start out in the same situation that I am in, and I know that if I am persistent in pursuing this, then eventually I will get to where I want to be. I don't intend to make millions in real estate, but just to become financially independent. It would be nice if I could get to the point where I could bring in 2k to 3k a month in passive income two supplements whatever I end up getting for Social Security when that time comes. I'm assuming it could take 10 years or so to get there. That's okay.

Post: Newbie wants a better life

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

Looks like I have a lot to do then to get all my ducks in a row. I have to figure out how to fix my credit, because I don't know how. I'll have to check out some books on it. I guess Dave Ramsey can help me out with that.

One thing I was thinking about doing is moving in with a friend and selling my mobile home, which is in a mobile home park where I have to pay rent on the lot. I like my mobile home, but I don't like the fact that I don't own the land. My friend's grandson is moving to Arkansas next May. Her boyfriend has a house up in the mountains where they spend the summer to get away from the heat here in the valley. She made like having somebody at the house who can help take care of things for her, and then she won't have to move her cats up to her summer home. I could put all my stuff into storage.

I can probably get at least $12,000 for my mobile home, as it's in really good shape. It's a double-wide that was built in 1965, but it needs central air. The ancient central AC unit went out on me about 6 months after I bought the place. I knew it was old and on its last legs at the time I purchased the home. I've lived here now for almost 2 years. I paid $13,500 for it, and it came furnished except for beds. Decent furniture, also.

I thought about saving that money that I make on the sale to buy a place that I could house hack. That would be a start, anyhow, and I could build up equity. In the meantime I can start working on my credit.

Just some thoughts that are turning around in my head.

Post: Newbie wants a better life

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

Sorry if the names didn't get highlighted. I guess I'm not doing it right. Maybe somebody could help me out with that.

Post: Newbie wants a better life

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

@Bryan Pham , thank you for your reply and encouragement .  I'm sure I will have many questions as I learn .

@Bettina F , thank you for your sound advice. I will look into that. I am familiar with Dave Ramsey. Last year I bought a book by one of his associates called Retire Inspired. My problem is I just don't see a way out of my situation. It's extremely difficult to make ends meet when you take home less than $2,000 a month. I pray a lot. I just keep hearing about many Investors saying that they started out with nothing, and end up using other people's money to fund their deals. I feel like I have to make that work for myself somehow. I guess it'll all come together, eventually.

@Andrew Ellis , thank you for the helpful suggestions. Now if I can just find the time. I work crazy hours at my job, and usually only get one day off a week. Sometimes I don't get any days off. Not because they make me work that many days, but because I need to work to make enough money to get by. You see, I only make $100 a day before taxes, and I have to be available for 10 hours a day, and usually I'm available for 12 hours. I do a medical transportation driving job. I may end up getting a lot of downtime during my workshift, although sometimes I don't. Lately I've been getting a lot, because we don't have as much work, however, I'm not able to do whatever I want during that down time. I either have to hang out in my car or at a coffee shop while waiting for my next pick up, or hang out at home if my next pick up is nearby my house. This doesn't give me a lot of time to actually get out in the field and look at houses with investors how might want to help me out. It does give me plenty of time to read up on investing, listen to the BP podcasts, etc. Good luck to you, as well!

Post: Newbie wants a better life

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

Hey everyone, I'm fairly new here. I signed up at some point last year, but I can't even remember when. Can't remember if I introduced myself.

Anyhow, I haven't really delved into this too seriously, probably because I don't have a lot of confidence in myself, but today I watched the webinar on the 45-day challenge. I was hoping to learn a lot more on there than I did, but it turns out I learned that I have a lot more to learn. LOL It did give me a good kick in the pants, though, it made me realize that I really have to put more work into learning what I need to learn if I want to get into this business of investing.

I'm sick of this business of living paycheck-to-paycheck and never having enough money for when things come up, or to go on vacations, or to buy gifts for friends and family on birthdays and such. I keep coming back to the fact that the only way I'm going to get out of this rut is to get into real estate investing.

I have bad credit and no money, so I will have to learn how to invest zero, zilch, nada. I wanted to sign up as a pro tonight, but I don't even have the $290. I seriously considered borrowing money from one of those title loan places, which I've done before, but with over 200% interest, that is just not a good idea.

I wanted to take advantage of the cheaper price, and get locked in for 20% off in future years, as the price is going up $100 tonight, but I'm just going to have to resign myself to the fact that it's not going to happen right now. I'll just have to learn as much as I can with all the free stuff on here, and get the different books that BP sells.

Even though I may not be able to get a deal by the end of the day, I am going to commit to putting at least 15 to 20 minutes a day or more into learning all I can about this investing business. For years I've wanted to get into this, so now I'm going to take it seriously. A person gets to a point eventually when they say, enough is enough!

Okay, I better quit here before this becomes a novel. I think it already has. Have a great night, everyone!

Post: Hello - New Intro

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

I'm learning a lot from this, as well. Thank you!

Post: Looking for knowledge and resources

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

I went to Than Merrill's seminar, also. While I learned a lot, it was so much to take in all at once, and 50K to get into their program is much more than I can fork out. I would rather learn all I possibly can here and start slowly. I have no way of coming up with that kind of money. I live paycheck to paycheck, and this is the biggest reason I want to get into REI. I want to secure a good future for myself so I can retire comfortably. I've had a lot of challenges in the past few years, but in the past year especially. I feel that since I've weathered these challenges, there's no reason I can't make it in the REI world. I'm giving myself an A for effort. Going to dive into the books that have been mentioned, and I hope to find some successful local investors who could possibly help me out. I have a very positive outlook on this.

Post: Safest areas in Arizona?

Karen CoffeltPosted
  • Real Estate Professional
  • Mesa, AZ
  • Posts 38
  • Votes 6

I'm new to this forum, and this subject is of particular interest to me, as I live in Mesa, and I want to get into investing in this area. Just starting to educate myself in all the different ways to invest. I eventually want to own a bunch of rentals for that passive income.