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All Forum Posts by: Marcos Paulo Cerra

Marcos Paulo Cerra has started 3 posts and replied 66 times.

Post: NOT going to college, what should I do?

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

hello @Josiah Patrick Zebarth

I just graduated from college last summer spending 4 years getting a degree in Business Administration from Marywood University. To be honest, I only went to college because I thought I had to go. It was just the "right thing" to do after you graduate high school. I finished college with around $25,000 in student loan plus an additional $4,000 in credit card debt buying books or for school-related things. Looking back though, I do not regret going to college. It was fun, I met some really cool students, meet some really great teachers (and poor ones), and had some good experiences. However, because I attended college and couldn't work a full-time job along with paying for my expenses, I was not able to save a whole lot of money.

On the other hand, I have two buddies who did not attend college for their own personal reasons and they have worked full-time jobs since they graduated high school. They were smart about their money and saved up a few thousand dollars throughout the years. Because of that, it leaves them in a much better position to invest in real estate since they have the capital.

But luckily, it has worked out for all of us. During my time in school, I was learning all I could about real estate investing (on my own) and they've seen the knowledge I have and they want to partner up so they can start investing. It has turned into a situation where both parties are winning.

Like I said, I don't regret going and honestly, I would do it all over again. However, if college is something you do not want to do- don't do it. Keep working hard, get as many overtime hours as you can, save up, and invest that money into real estate all while you use BP to learn about real estate investing. Possibly look for a multi-unit property that you can use an FHA loan on. That way you are investing in real estate while working a full-time job.

Hope this helps you make a decision on your next step. All the best!

Post: What are your investing goals?

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

Hello @Michael Pallotta

Currently, I have a goal of getting my first rental property this year, maybe even two! Looking to do an owner financing for one so my invested partners and I can move out of our parents home. We can possibly all live in one unit, save as much money (Thanks GaryV) and invest that money saved back into the market.  We are looking for multi-unit properties in the Scranton, Pa area near colleges to rent out to college students.

Post: Intoduction and House Hacking Questions (Portland)

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

@Ty Jahn

I am currently looking to do an owner financing as well in my area with a duplex. From all the research I've done, it seems like it is one of the best ways to start out. Wishing you all the best and keep us informed how it works out!

Post: New to BP! Starting my RE journey now and closing my first deal!

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

@Joseph Gambino

Welcome to BP!!

Post: The Advantages to being Pet Friendly

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

@Kevin Enderle

I was informed that if something like that happens on the property it is the owners responsibility since he is the owner of the property. Maybe they were misinformed or I misunderstood.

Post: The Advantages to being Pet Friendly

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

@JD Martin

Thanks for that information! It gives me a different perspective when it comes to renting to pet owners.

Post: The Advantages to being Pet Friendly

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

@Kevin Enderle

Great post! I never really hear anyone talk about how they allow pets in their rentals. It is always a no when it comes to landlords allowing pets. I grew up having 2-3 dogs and we also fostered dogs. No joke, at one point in time we had about 11 dogs in our house! I love dogs but I always hear current landlords talk so negative about having them in their rentals. This makes me want to have a no pet policy when I start getting into rentals even though I love dogs.

Can you go into more on designing the home to be pet-friendly, vetting responsible pet owners, and covering yourself if a dog was ever to bit someone?

Post: Where should I start?

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

@Xzaviar Deary

I agree with what @Cole Raiford said! You just bought a house, take some time to learn more about RE investing and using the BRRRR method. It is important you do not jump into something you have no idea what you are doing! Take the time to learn and save. Maybe by the time you feel like you enough knowledge on the subject, you'll be able to buy a new one from the money you have saved. Then you can go out and buy a cash flowing property around your area. If there are none, try reading the book on long-distance real estate investing in the BP store.

Post: New to the Real Estate Industry

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

Wholesale is weird. It is one of the best ways to start in real estate(so I've heard) but many also warn about the potential issues it can have. From other peoples advice if you are going to start with wholesaling, make sure you know your state and local laws on the matter.

Post: 15 yr or a 30 yr mortgage???

Marcos Paulo CerraPosted
  • Property Manager
  • PA
  • Posts 67
  • Votes 42

@William Thomas

I agree with what @Joe Villeneuve said. I have heard many people recommend getting a 30-year loan instead of a 15-year loan though.