All Forum Posts by: Linda Carretero

Ok I know this has been a long thread, and I apologize if my response has been stated on other threads already.  Do not, I repeat Do not. stop payment and foreclose on it.  I am so sorry to hear @Larry Spradling that you are going through this. But Foreclosure will sit on your credit for a long time. Seek outside legal counsel if you have not already. These people have scammed you enough. All people you have mentioned sound "fishy" to me. See if you can get a CMA from a realtor, Fire the Property Management, and you may have an eviction in the works. Be prepared to get your hands dirty.

Who will treat your money better than you?  Who is looking out for your best interests?

Hope this helps! 

Sounds like a solid start. Good Luck on your first purchase @Eric Horn

@Jeremiah Johnson welcome to bigger pockets. 3 things to think about.  Bigger Pockets has a ton of calculators, make sure to look at some sales and analyze them to help guide you to what type of deal will cash flow, then when the right one comes along you will be more confident in pulling the trigger. 

Also Network, attend local events, you may meet some local Realtors, lenders and wholesalers.  Having a network is invaluable.  You never know when you might gain useful knowledge from these connections or even deals.

Last thing is if you have not seen the bigger pockets podcast start binge watching them.  They are not only inspiring, they offer a lot of knowledge just by listening to other who have done it already.  Hear them talk about the success and failures they encountered.  You will gain a wealth of insight!  

Hope this helps you on your journey!

It would be best if you had boots on the ground.  I mean actually got to know the neighborhood, the culture, businesses etc.  Also make sure you have a reputable property management company to help manage if you will be going that route.  Not all property management companies are alike nor will they work in all neighborhoods.  Hope this helps.

I think both options have there pros.  If living with your family can help you save more money than living elsewhere and paying mortgage.  But you must avoid getting comfortable in that situation.  Knowing that your looking, networking and ready to move when you find "the deal".

The pro of just jumping in would be the motivation of it being  sink or swim.  "If you want to take the island burn the boat"- Anthony Robbins

Great profit.  Is this your first deal? If so not a bad start.

Great job!

I would like the government out of my financial plan as much as possible.  We must stand together in Illinois to vote this out!

Hello @Kevin McNally, Welcome to BP.  I am a newbie licensed Realtor and investor.  I have not done any investing deals yet.  I listen to the BP podcasts, and read and attempt to gain as much knowledge of investing.  I am hoping to attend the local investors meetup soon, this winter has been wicked on me.  I think the biggest aspect to investing success is "Action".  Analyze as many possible deals as you can so when a great deal comes along you will know it.

Welcome to BP, I look forward to seeing you in the future. I am in Chicago as well and I am a licensed Broker.  Learning all I can to be an investor as well.