All Forum Posts by: Malcolm Darensbourg

Sounds like a great plan. I'm a 20 Yo newbie located in Laplace , Louisiana. I'm working on putting together an investing plan at the moment. Thanks for the insight. Very inspiring.

Bryan Otteson Thanks for the information sir. Is there any insight you have for a newbie who is just getting started? Anything will be appreciated.

Mentor* Sorry for the misspelling in the heading.

How's everyone doing? I'm currently looking for a mentor. My dad does have a nice size Real Estate portfolio and I've learned a lot from him. Although I think I should search for another mentor to get a different perspective about real estate. If anyone knows someone who is willing to mentor let me know. I'm not interested in any money or nothing if that sort. All I want is to obtain the knowledge that someone is willing to pass on me. If you guys have any techniques on how to find a mentor I'm all ears. Thanks everyone.

Austin Carr sounds like a pretty good ROI. So does the money you use to do renovations come from the loan funds or out of pocket ?

Austin Carr Thanks for the response. You're right, I think talking the bank beforehand will be the best move. What are the details on your property you have under contract now if you don't mind me asking. Did you do conventional or creative financing? SFH or MFH? Crunched numbers or no ?

Hey everyone ! So I'm a 20 year old newbie. I've been working a full time job for about 6 months now. I've been thinking that my first step into real estate will be through the FHA loan by acquiring a MFH. I also just started establishing my credit for about 6 months with a student credit card. I read that you need to work a full time job for at least 2 years before being considered for an FHA loan. So what I'm asking here is should I go talk to the bank to get the requirements for the loan and the steps I will need to take to be accepted for the loan. Or should I just wait 2 years before even going to inquire about the loan? Any information is appreciated.

Kacper Lastowiecki thanks for the well wishes, sending them right back your way. And yes I do want to invest in the same type of properties as my dad. Build an portfolio of SFH with some MFH. I also will like to buy and hold on majority of my units. Although I do wish to have more multis than SFH down the line. Looking to buy mostly in B and C class areas. I want roperties with a good line of equity. Also, I'm looking for properties that I can force appreciation on. What investment properties & methods or you most interested in?

Suzanne Griffiths Thank you for the response. Yes, I figured I might as well start planing how to acquire as many assets as possible instead of succumbing to the many liabilities that can be built up through a lifetime. I have one credit card which is my only line of credit so far. I'm planning on waiting a year until I go to my local credit union and talk to them about other options on establishing my credit. I've been searching for mentors in the area, their quite hard to come by. Maybe I haven't been looking hard enough. Im also ready for all the No's that will come with the business because I believe just as many yes's will come also. Im really excited to have started at such a young age because I have time on my side, which is probably the greatest asset of all.

Also my dad is looking to scale his business. So if anyone has any legit opportunities out there I'm all ears for it.