All Forum Posts by: Mason Marin

Welcome to BP Michael! 

@Walter Purdy Thanks for the reply I have a couple questions I'll PM you. Much appreciated.

@Thomas S. Thanks for the reply! I agree I would like to connect with the local REI group, I have been invited but I haven't been able to make any of the dates yet working 50+ hour a week and never getting off in time. I hope to soon though. Yes I love the idea of refi to conventional loan later, I am well aware of the BRRR strategy and would love to find a fixer upper home to buy and maybe live in for a year as i fix up and then refinance into conventional. My problem is right now I just don't know where to start, I guess my next step should be contacting some lenders and figuring out if I can qualify for anything and if not take it from there.

Hello BP community! For the past 9 months I have been saving up money to buy my first property. I would like to "house hack" most likely single family home renting out the bedrooms. I would like to find a property that would cash flows immediately, so when the time comes to move or purchase another home it will be ready as a rental. 

My problem right now is I am not sure if I can qualify for a loan with any lenders? I have been told by people that I need at least 2 years with my current employer(have only been working with USPS for 9 months now.) Before that I worked a few months inside a restaurant. Before that I was unemployed collecting unemployment for awhile and before that I worked at a pool for around a year and a half. 

Is there any type of lenders in Las Vegas that can work with less job history? Are there other strategies I can look into for acquiring my first property? And if not a property to live in, does anyone have useful strategy suggestions for buying my first rental property to rent out to a tenant instead?

I have been reading / listening to podcasts for awhile but there is just so much information to handle. I am trying to narrow down my strategies to this specific area for now (Las Vegas). Just trying to figure where I should focus to get my first property.

Any help is much appreciated,

Thanks

-Mason

Welcome to BP @Michael Sarkissian ! I'm not sure if you listen to the BP podcasts but I started listening to them these past couple months and one of the episodes I came by recently was on investing out of state. It was podcast episode 73 : Investing In Rental Properties When Your Local Area is Too Expensive With Mehran Kamari. He was also on show 25 featured for having his first deal, fast forward to show 73 where he closed around 10 deals I believe. It has a lot of good information on investing out of state if you haven't heard it already check it out! Best of luck to you!

@Rochelle Ray Awesome I will signup on meetup tonight, thank you! I also got a PM about some local meetups I appreciate everyone's help. I'll see you around sometime!

@Joe Ellis awesome thank you!

@Phillip Dwyer Thanks for the invite! Unfortunately I will be working tonight but I would love to join one in near future! 

New to the investing world, I was wondering if there are any local meetups from people here on BP in the Las Vegas area? I hear people talk about meetups on the podcasts a lot and I did some brief searching through the search engine but found nothing. Would love to surround myself with some like minded people, develop some strategies, and network! 

@Ali Worthen Looking forward to meeting you as well. Well send them PM now!

@Jared Garfield Thank you Jared for your input and support! Rich Dad Poor Dad was actually the first book I read that changed my mindset about money and I know all about the Quadrants I want to be in the B and I quadrant not the E and S my whole life. I will check out Real Estate Advantages! I'm almost finished with my current book "The Millionare Real Estate Investor" by Gary Keller and I have found it very informative.

Also thank you for your input on the aptitude test and realtors license. My idea right now is to continue working as a mailman, possibly find another part time job to save more money for down payments, and learn as much as I can until I am ready to purchase my first property. I believe being young my chance to take risk for my future is now. I can always fall back to a "j o b" and education at any point in life.

I would appreciate any help large or small, I would love to educate myself as much as possible and find a great cash flowing deal within the next year. Thanks Again.

@Alex Franks Thanks for your input! I have no desire to leave my job, just developing as you said my "plan of attack" and educating. I completely agree about taking small steps not big leaps, I am not in this to get rich quick. I know it takes time to build wealth and a strong portfolio of assets. Thanks for stopping by I appreciate it! 

@Jorge Lancerio Yeah Multi-family property interests me a lot as well. Being able to acquire more units in one purchase and yielding more cash flow would be ideal. I got interested in real estate after a friend suggested I read Rich Dad Poor Dad. When I was 21-22 I had no vision in life didn't ever think of being able to build wealth. As Kiyosaki says you have to be an investor or a business owner to build wealth. Can't live in the Employee quadrant or the Self employed quadrant. So it became clear I needed to put my money to work for me somehow, stocks seem boring, and real estate seems something that can keep my interest. Have you bought your first investment property yet? I hope to take action sooner rather than later I'm just still in the knowledge process and trying to make connections.

@Ali Worthen Thank you for your support! Yeah I would love to join along sometime. I am always open to networking and learning things from others. Thank you for your offer!