All Forum Posts by: Kodi Rath

Matt Clark is this something that 2 total newbies (my fiancée and I) are welcome to go to? Only just started researching investing in real estate and looking to learn as much as possible. Since we don't have much to offer I wasn't sure if it was something for us or not? No hard feelings either way ;)

@Account Closed I would love to! Where are you located in va? Maybe my fiancée and I could meet up with you and your wife/GF/significant other for lunch or dinner one evening? 

@Mark Brogan when and where is this meet?! I would love to be involved. 

hey Christian thanks for the advice! 

I am very handy, and I'm great at figuring things out. 

My fiancée is on board with REI 100% and she is trying to research as well, and she is all about doing the work ourselves. She's the one who's good with design type things, her only problem is seeing potential in really ugly things haha.

Currently I think I'd like to get started in single family homes, then when I have that down is like to try a multi family.

Thanks for that Andrew! 

I do plan on educating myself as much as possible, then once I have a solid plan I will start searching for the deals. At this point I'm just still not sure what's really a "deal" and what's not. I only moved here a year ago so I really don't have many connections as far as realtors, contractors, or people I can bounce ideas off of. Not coming up with excuses, I guess I'll just feel more confident once I have done some more networking 

no sir, I do paintless dent removal on vehicles, not sure about anything with lead paint. I am just looking to get started in real estate as well

smith mountain lake... Nice that's where you'll find me every weekend 😎

Good to see another new guy trying to get involved in lynchburg/roanoke area! 

Good luck! 

Hey everyone! 

My name is Kodi and I am 23, own a mobile paintless dent removal business based around lynchburg and roanoke Virginia.  I just opened last year, but business is already great and now my goal is to buy my first buy and hold property by this time next year.

The only reason I am waiting until next year, is because everyone is telling me I need to be in business for at least 2 years before I can get any type of mortgage or home equity loan. 

I have been listening to the podcasts and reading the forums for a few months now and I am hooked. Really look forward to meeting new people and learning everything I can! 

thank you everyone for the responses!

So total, they gave me $117k, but like I said after paying them for a little over a year now I'm down to about $100k. They are not charging interest, basically they don't NEED the money back until they are ready to buy their retirement home (which is now probably happening next year) and I'm just not a fan of owing them money. I know since there is no interest involved, nothing will be as "cheap" as just paying them the way I have been, but even though they say they're not worried about me stressing over paying them back, I would still like to get them that money before they are ready to move. 

They don't expect two thirds equity, actually they don't expect anything in return, however I would like to pay them interest as an appreciation for really helping me get a head start on my life. 

I just wanted to know the best option, since I know this isn't necessarily a typical situation for a first time home buyer. And again, I'm 23 and still very new to real estate, but I'm trying to learn as much as possible, as I plan on buying properties as a source of long term income for my future. 

Thank you all again! 

hey guys and girls, 

This is my first time posting so I hope this is the right place for my question... 

Long story short, my parents had a vacation house, sold it, and gave my brother and I a good amount of money towards either a house, business, or marriage. 

I started my own business already, and wanted to move it to a new state, so i decided to use it towards a house. 

So I now live in VA. They helped me buy my house, (bought outright for $165k) and I send them $1000 monthly as a "rent/mortgage" payment towards paying them back, until I can qualify for a mortgage or home equity loan to pay them back (roughly $100k I owe them) so this leads me to my question.... I've only been in business down here for 1 year, and I know being self employed I need to be in business for at least 2 years to get a mortgage. Is a mortgage my best option for paying them back? Or is there a better way? I'm just not sure how this would work, since the house is already paid for in full. (My name as well as both of my parents names are on the deed)

Should I basically "buy" it from them with a mortgage and take their names off of the deed? Seeking advice on the situation. 

Thanks in advance!

-Kodi