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All Forum Posts by: Mecca Walker

Mecca Walker has started 4 posts and replied 12 times.

Post: Can my plan actually work to buy first fourplex in Las Vegas?

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

@Christopher Brainard This is why you guys are my go-to people! Thank you so much for that because I didn't consider PMI in relation to cash flow, so I'll have to work with it or around it.

Post: Can my plan actually work to buy first fourplex in Las Vegas?

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

I have done a ton of research, but you can't actually know everything that's out there, which is why I'm coming to you guys! So far I've come up on a dilemma that I can't figure out a way around. I'll mention my goals, then my options, and you guys let me know which is best or a better route. Please and thank you!

Goal: purchase fourplex (Las Vegas, owner-occupied) with FHA or low-income/first time homebuyers program by August 2017

Options: Graduate May 2017 with a comfortable savings for down payment/closing costs and an emergency fund, then obtain (A) full-time or (B) part-time employment to use toward applying for financing 

Preferences: no 20% down payment (the lower the better) and I want to purchase property as soon as possible rather than continue to rent an apartment

Dilemma: I want to pursue an MBA through an online program after graduation as well, but worry about workload and how having less income (a part-time job) will affect financing

Post: Las Vegas REI Shadow Experience/Assistant

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

@Omar Merced Thanks for the encouragement! It's fine if I'm not really needed full time, I'd just be happy to sit in for an appointment or see the walkthrough. I'll make sure to reach out if I need your expertise.

Post: Las Vegas REI Shadow Experience/Assistant

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

Happy Tuesday everybody!

I'm just starting out with RE investing and have been researching various aspects of the process for some years now (financing, taxes, market analysis, deal negotiation, etc.), and my next goal is to shadow someone during their journey. If you're investing residentially in the Las Vegas area and wouldn't mind the company, I would love to watch the process of searching for a property, financing, negotiating, walk-through, etc., or as much as I can. I'm free for the summer (May through August), so hopefully I'll have the opportunity to shadow at least one investor (first-timer or expert).

Also, I have included the option of hiring me as an assistant, if needed, so it can be a mutually beneficial relationship. I have 3+ years experience in administrative duties and customer service. I'm fluent in Spanish reading, writing, and conversation. I have studied American and Latin business for a few years and American economics for almost five.

I've never put out a request like this before, so if you want more information, please go right ahead and ask. I'm eager to get started, so I hope to hear from some of you guys very soon!

Post: New Member from Las Vegas NV !

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

Welcome!

I'm new to BP and REI, as well as, and I'm in the Las Vegas area. You guys have a lot of hands-on experience with real estate, and pursuing very interesting approaches to investing, so hopefully we can learn a lot from BP and each other in the time we're working towards our goals!

Post: RealtyShares

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

Investors/Buyers,

Have any of you tried RealtyShares from either end, and if so, how did it turn out?

Here's a link to the article I learned about it:

http://techcrunch.com/2015/01/28/realtyshares-markets/

Post: Newbie from Las Vegas, NV

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

@Ndy Onyido @Marlon Wilson Very much appreciated guys!

Post: Newbie from Las Vegas, NV

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3

@Renea Steward @James Wise Thanks guys! I greatly appreciate the warm welcome, and all the help that I can get.

Post: Newbie from Las Vegas, NV

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3
Originally posted by @Ryan Inman:

Welcome to BP!

Investing in multi in Vegas is a bit tougher than it is in other major cities but it can be done.

Since you are just starting out in your investment career I'd like to offer one piece of advice. Diversify your holdings among different asset classes. Holding various types of investments will limit your risk while positioning yourself for optimal gains. Even though you are young, try to limit large losses. If you have a 50% loss, it will take a 100% gain to get back to even. Also, always keep an eye out for a good investment opportunity, you never know how/where the next deal will come from.

Good luck! Feel free to reach out to me if you have questions.

Ryan

 That's amazing information, thank you! I'll make sure to plan for that now and reach out for help when I need your expertise.

Post: Newbie from Las Vegas, NV

Mecca WalkerPosted
  • Springfield, MO
  • Posts 13
  • Votes 3
Originally posted by @Eddie Hutto:

@Mecca Walker Welcome!  Sounds like you have a full plate and the determination to get it done. Multi-fam buy and hold is a great strategy. Find the right deal and the funding wont be hard. Glad you joined can't wait to watch your journey. 

 I've always been a busy bee, but thank you for affirming my ideas and for the warm welcome!