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All Forum Posts by: Lakeisha Smith

Lakeisha Smith has started 3 posts and replied 10 times.

Post: MY POTENTIAL FIRST INVESTMENT DEAL

Lakeisha SmithPosted
  • Rochester, NY
  • Posts 10
  • Votes 3

Hi @Amit Kal,

Thanks for the reply.  What the broker told me was that student loans are now being taken into account for home loans. I have some student loans and have yet to pay on them ( I start this in September). The broker stated that once she sees some payments she can try to get better interest rates.  

I know that is high so I guess the best thing to do is wait.  I will look into the triplexes as well. I am still saving up for my down payment. I don't have 20%, but I also didn't think that I need 20% more like 10% was my thought.  

Thanks for your feedback.  I will definitely take these things into consideration. 

Post: MY POTENTIAL FIRST INVESTMENT DEAL

Lakeisha SmithPosted
  • Rochester, NY
  • Posts 10
  • Votes 3

Hi All,

I am looking to purchase my first property within six months or so.  In doing some research and joining a local real estate investment association, the education and advice that I have received said the best way to go as a first time investor would be to purchase a duplex and be owner occupied so that I can take advantage of the first time home owner programs.  Which all sounds great.  But as I have been doing research and receiving property information from a local realtor as well as having a pre analysis ran on my credit, which shows I'm in decent standings now and the interests rates would be pretty high at this point at 6%.  My thoughts, since I am currently under a lease where I currently reside until July of next year, I was wondering if I should go ahead and buy a duplex-as the information that has been sent to me shows that both spaces are currently occupied and some have a recent C of O.  

Someone suggested that if the seller wanted to sell bad enough that he/she could buy me out of my current lease as part of the deal (has anyone ever heard of that?).

I guess my question is would it be wise to purchase now, without taking advantage of the first time home owner programs (which I would no longer qualify for if I went ahead and purchased as most require for the owner to reside in the residence for about 5 years), to start my real estate investing journey or should I wait until I can get lower interest rates and take advantage of the first time home owner programs?  The only thing with the home owners program that I really don't like is the requirement to live in the property for a number of years.  Any suggestions???

@Duane Ortega,

Thanks for this info. I would like further information as well. This site has been very helpful thus far.

Lakeisha

@Bhekizwe M.

You are right about that! Looking forward to the journey!

Lakeisha

@Lakresha Michell,

In my thinking your network starts with people whom you know now. Allow that to build it up more. You are in a good position I think knowing what you already know. I know a little of that but not quite enough and eager to learn more. The financial backing piece, I do recall in the workshop the facilitator talking about transactional funding. There are companies out there that do this in order for you to purchase. Do a search on this forum about funding and I'm sure you'll find something helpful. Also Google transactional funding. I don't know much as I'm just starting this process to but I definitely don't mind sharing what I am already aware of. Good luck!

Lakeisha

@SantosCollantes 

Thanks. Keep pushing you'll learn it. Just keep going to networking events and tell everyone that you can what you do. Soon networking will become second nature.

Good morning members,

Yesterday was a whirlwind of a day-from canceling a education membership to learn more about REI that was WAY too much to figuring out what next as this is a path I'm not giving up on. So I decided to reach within my network and fugue out who was into REI. A name hit my spirit and I reached out to her. I explained my experience of the past week with the Real Estate workshop, how I almost fell for the okie doke, and now pursuing on my own. I asked for any advice on starting out and even asked to be mentored. Low and behold, she got my message and within minutes she called me back more than willing to help! She made her first investment at 23 and is in her 30's now. We have our first meeting on August 6, 2016!

This may not seem like much to many of you that are already into REI and it may have you wondering why I posted this. Well it's a HUGE step for me as I didn't allow one bad experience to deter me from my ultimate goal of REI. I share this so that others can know to reach out to people, don't be afraid, when one door closes go to the next!

Post: Real Estate Investing Education Scams

Lakeisha SmithPosted
  • Rochester, NY
  • Posts 10
  • Votes 3

@LandonEskew 

Thanks for the encouragement! Much appreciated!

Lakeisha Smith

Post: Real Estate Investing Education Scams

Lakeisha SmithPosted
  • Rochester, NY
  • Posts 10
  • Votes 3

@Andrew Cordle

Interesting that you were one of the responders to this post. In any event, the workshop was full of insightful information, that I can't dispute. Has me fired up! It was an awakening that I needed! So thanks! For starters, who wouldn't want the personal training after hearing your great training method. You state everyone has different needs at different levels- the need for financial freedom is CRUCIAL for me.  So,I thought I should take a chance and jump in order to get myself where I want to be. However, everything that glitter isn't gold. You all do a great job at selling while not selling. When I went for the one on one all of the financial information that I gave indicated that there is no way in h.e. double hockey sticks that I should be attempting to acquire additional debt at this moment. But because you all are in business to make money (cause that's what any business is) you find ways for people like me to get what is needed so the business bottom line is met. No, no one forced me to ask for additional help with financing the $25K, I came to you asking because I know the importance of having a mentor in general and could definitely use one in this new endeavor (sidebar I never heard back from Financal Pathways after giving my info and leaving them a message to see when things stood-all before my post) But for $25K from someone that is struggling as is and in most instances robbing Peter to pay Paul and telling Uncle Sam at the same time, here's a little to keep you satisfied until. It makes no sense and seems a bit unethical but the goal is to leave with a sale, I get it. So, with due diligence, before I completely dipped my head deeper in debt I needed to check things out. I found not one positive review or anyone for that matter that rated the company or the additional education a success other than on the company website. I would think that if the 92% success rate was indeed true someone, somewhere, somehow would have boasted, bragged, and willingly posted something. Anywhere. I guess they are out doing what wealthy people do though. I know not all businesses have to be registered with the BBB, but the fact that they aren't was another red flag. NUDGE, the parent company (I think this was a slip up and mentioned mistakenly by someone) definitely didn't fair well in swaying my decision to move forward. I even checked through the testimonies that were posted and not the testimonies of the workshop but of people that furthered their education, located them via social media and told them what I was getting ready to do and no response. Again, these folks should be singing the praises of the company and their further education and encouraging others to take that journey too. I know I would.  

Nothing you said sounded like a scam the principles do. As bad as I wanted to do this, with this company, I can't give y'all something I don't have. But just as you said when one door closes go to the next. The $25K is stopping me from moving forward with y'all but not on my own. Without a doubt in my mind I will learn these methods, yes at a slower rate, but I'll do what is needed to get where I want. I'm not here to bash just giving you my perspective. Thanks for taking the time to respond. 

Lakeisha

Post: Real Estate Investing Education Scams

Lakeisha SmithPosted
  • Rochester, NY
  • Posts 10
  • Votes 3

Hello All,

I'm new to this site and joined as I would like to learn as much as I can about Real Estate Investing. This past weekend I took part I  a three day workshop put on by Performance Education-Success In Real Estate. Everything sounds wonderful and made so much sense. They offered additional education at two outstanding prices of $20k and $25k with a guarantee of three deals, the opportunity to go to Law Vegas for a Real Estate Summit to buy property, mentorship, access to Deal Desk Pro Tools, and a few other items. My questions are, what are the average prices for Real Estate Investing Courses, Is this a scam? Any information that can be provided is greatly appreciated.

Thanks, 

Lakeisha