All Forum Posts by: Alex Mendoza

@Michael Ablan I am able to qualify for a loan. Will need to speak with the bank specifically about the FHA loan program. This is great!! Thank you Michael.

@Kevin Dean Thanks for the thoughtful post. Great information!

Hello BiggerPockets! I’m trying to get started with my first deal. Right now, I have $20k in cash and ready to get started. I’m writing this with a little frustration and slightly demotivated ... but it NO WAY am I stopping!! I’m just ready to get started and want to put that $20k to work.

I've been looking for my first SFH deal (to hold for a rental) in Texas (north of Dallas). I've tried different strategies - driven around, searched MLS (I'm actually working on RE License now), looked at inventory from a few local wholesalers, and mention my interest to invest to a few people I've met. But that 1st deal is still beyond my grasp.

Is $20k just not enough to get started? I’ve analyzed many deals using the Rental Calculator, and they would cash flow, but those deals are snatched up quickly (assuming all-cash buyers). I’m afraid that it will take me a considerable amount of time to come up with enough capital for all-cash deals ... but if that’s what it takes, I’ll keep the course and wait a little bit longer.

Thank you @George Blower. Will definitely look them up.  I appreciate the referral .

Great article @Keith Kellermeyer! Thank you for sharing. I've read a couple on BP but had not seen this one. Great stuff. 

Thank you @Carl Fischer. Sent Quest IRA a request so should be connecting with them soon. Thank you.

@Dmitriy Fomichenko - Thank you so much and I appreciate the response! I will surely continue to to look on BP for some potential choices. Again, thank you for your response. It was also great to see your name pop up on many posts as an expert in this area. 

Hello BP community - I am looking to move a 401k into a Self-Directed IRA to get me started in RE investing. I live in Carrollton, TX and I am looking for recommendations on a local investor-friendly firm to help with the IRA (setup and management). Also looking for any referrals for a local CPA ... I've met a couple local CPAs but it appeared that they were more aligned with the book-keeping aspect of the business and not so much on outlining tax strategies, legal entities, and general investor tax guidance, so I am hoping another investor in the area can pass on a referral.