All Forum Posts by: Luis Montanez

good question.. following. All that the best answer will be provided by local real estate attorney. Please share your final answer 

How do you keep from getting side tracked from business ideas outside of real estate investing? 

In my case, I started building a business, related to real estate, but it took me out of my core focus.

It all start like this: 

1. "how expensive X product or service is"

Then the following thought comes to mind:

2. "if I had a company that provided X or Y product or service I will save that money" 

It could range from getting a broker/agent license, becoming a general contractor, starting a flooring business, etc. Then as you start  dealing with nickel and dime customers, employees, lost inventory, learning curve, etc. I wake up one day to say:

3. "What the heck am I doing? I should be doing real estate investing not jumping all this extra hoops"

I know my thought process but I still fall in this trap every few years. 

What have you done to avoid this?

When a buyer tells you that they can only buy with FHA that = they have no money for down payment.

See if doing a conventional loan for $50k with your contribution of $10k  towards closing cost works.  

20% of $50k = $10k which should be sufficient to cover the closing cost so they may buy with little money down .   

@Michaela G. unless the property is in a war zone like areas of east point and banks are giving you the run around because it may become a toxic asset

@Michaela G.ask the appraiser what improvement could you do to the property to get it. See the appraisal that you got and see what areas got deducted when compared with similar properties in the area. This will give you an idea of what needs to be fix. It all comes down to cost/benefit analysis. It could be remodeling a bathroom or kitchen, adding a room, etc.

do some improvement in the home sell it for $51k

first find deals and the list will follow.. send anything you get in Cobb County my way. What I look for is in my profile.

"looking for someone to invest a significant portion of their time and energy telling me how to get rich"

4 rules to follow to get rich:1. 

1. Buy LOW sell HIGH

2. Look both sides before crossing the street  (due diligence)

3. Dont loose money 

4. Be successful at steps 1, 2 and 3.

Now, send me a $3,000 check via western union pm me for the details.  This way I will hold you accountable for getting a return on your investment. ;)

thanks for all your feed back. Will show the end result once completed. 

Got in the house today and the biggest problem is a basement wall crack which looks like a serious problem.

Have not done a house with this type of problems so not sure how much $$$ we are taking about.

My plan is to use carbon fiber cloths with epoxy.

Option 2 is to use anchors

This retaining basement wall is about 480 sq ft (60ft long by 8ft tall). This house is in East Cobb Marietta Georgia

Basement video 

Pictures 

If you have experience doing this please let me know your opinion 

Luis