All Forum Posts by: Margarita Guillermo

Hellooooo my BP community!!!!

I just can't say enough with all the information acquired in the last two weeks from reading all the discussions and threads. As a REI newbie, it was suggested that I attend a local REI meeting which I did yesterday and attending a different one next Tuesday. It was about wholesale and good information was given. There was individual Q&A at the end which I took advantage of and shared my fear of not being able to become an investor because my credit is horrible due to job loss and almost foreclosure. I shared with this individual that I do have some funds to get started but because of my credit know banks will not do business with me. He went on to tell me that my credit will NOT be a factor into becoming an investor and that he can share with me other ways that I can make my money work for me without getting my credit involved. We exchanged #s and today he called me and after an hour on the phone, him detailing how he can help me launch and create a marketing strategy and generate 100+ leads, he hit me with the clincher. He normally charges 30k for this training, only has one slot open, and will give it to me for 20k PLUS 50/50 on all deals generated! Sweet huh?!? For him, that is.

I personally think this is outrageous.  It kind of turn me off from attending other meetings because now I think that they are just setups to attract unexperienced and gullible investors.  Am I wrong to think this way?  Is there a way to find someone that can mentor you without you paying half an arm in the process 😕

p.s.  I also got the impression that he was recording our conversation.  Kept getting all these pauses from him from time to time, BAD connection, and a few random beeps here and there. 

There is a NJ Real Estate Investors Millionaire Makers meeting tonight at 6:30pm. It's at The Hilton Hotel in Piscataway. It's $15. 

Thank you @Paul Amegatcher and @John Mattox!!

Property has been on market for about 3 weeks, ARV is @ $140k and it needs $20,000 in repairs. The market is up and coming, especially for commuters to NYC. I'm planning to buy and hold. Rent will be around $1,800 - $2,000.

Based on 70% rule, I should then not pay more than $78,000 for the property.

Hello BP community! With everything that I have learned in the past week or so from the BP community I feel confident in making my first offer on a property. It's a SFH that is bank owned and currently listed at $90k This will be a cash offer My realtor told me to come in 2-3% below asking price because banks are not being too flexible. I was thinking of bidding 5-7% below asking. What has been everyone's experience when buying bank owned properties?

Hello everyone!!! I'm new to the BiggerPockets community and also to REI. Really excited that I have found this community. Just received my Amazon shipment of The Book on Rental property Inventing, The Book of Flipping Houses & Investing in Real Estate with No Money Down. I know I have TONS of information to absorb but the passion and desire are there.

A little bit about myself. Married with kids, HR Director for 20+ years, and homeowner. Lost my last job 3 years ago and have been unable to find permanent work. Currently working as a part time Spanish teacher at a community college. Our home almost went into foreclosure and because of that our credit is SHOT. Thankfully, things are looking slightly better and we are slowly but surely paying off whatever small debts we have (thankfully, no credit card debts!). 

We currently came into 100k that we would like to invest into a very cheap house that we can rent and hold on to while we continue learning from this wonderful community. 

Our goal is to be able to own a few houses utilizing the BRRRR strategy over time and slowly build our RE portfolio.

All ideas, suggestions, comments and opinions welcomed.