All Forum Posts by: Nandy B.

Ouch!! I don't think I agree. There are plenty of great people who have found their success and may have retired from actively investing. Their knowledge is valuable to newbies or semi-newbies like me. 

I do think that one has to be very very careful when it comes to courses and mentorships though. 

1 - check yourself, why do you need a mentor? if those mentors weren't there will you have the courage to spring into action? Mindset is everything in real estate. There is no elevator to success. You will have to suck it up and grind. Yes! you will make mistakes, you will lose money. IF you lack the guts and courage to take action, with or without a mentor you will struggle.  

2 - The best time to hire a mentor or a coach is with some experience under your belt. I have 2 master's degrees, 1 bachelor's, 2 minors, 4 certificates. Beleive you ME!!  Classroom head knowledge is not a substitute for experience built thru practice over time.  

3 - Real estate investing is very personal. there are hundreds of strategies and options and ways to invest. YOU and only YOU will know your risk tolerance. This comes from actively doing. No mentor/coach will be able to tell you what yours is. 

So in conclusion, first - get some experience with anything, buy your first property, then a second one, or partner with people who are buying properties in your local REIA. Set a time frame and discipline yourself to gain some experience in that time frame 6 months to a year. Then if you really feel like you need a mentor/coach. Go for it! You will at least be able to article what YOU need from THEM.

congrats! I am house hacking a duplex myself right now. Yes, no turning back! it's only up from here!!

I did not buy section 8 on purpose. I kinda stumbled upon it. So far my tenant seems like a decent human. 

My suggestion would be to look for your local section 8 ( Housing Authorities) office. Go there and directly speak to them. It will help set you at ease about the section 8 process. 

Rule of Thumb I have learned. No matter what.... I always get 3 estimates. Even when i am happy with the price. 

5 Rentals in 2 years! Congrats! 

My suggestion would be to go speak to someone from the city and ask them if there is an opportunity to update zoning. Some municipalities are harder than others. You will most likely have to apply and make a case with your local city planning board.  

Hope it works out for you, Sounds like a great idea. 

I think it depends on what you are doing? I need a closet added to a bedroom ( no big deal to me, I just used a handyman). Although he wasn't a GC, I knew he was good at what he did and I could trust him to show up and finish the job. 

If I needed major plumbing and electrical work done? I would absolutely not go with a handyman. He can change my ceiling fans or fix a small leak under the sink, but that will be about it. 

The problem is that often investors or homeowners hire GC or handyman with extremely limited knowledge. This always bites us in the butt. 

I will be enrolling in a basic construction training program next month. The goal for myself is to better understand the ins and outs of home construction, so I can be empowered with knowledge as I deal with licensed and unlicensed professionals.  

LVP and Porcelain Tile. I love the look and longevity. 

Looking to cash out Refinance my Primary so I can finance my next primary (would like another FHA 4Plex).

HOME 1 - PRIMARY - FHA - (1907)

Loan Amount - $158K, Current Market Value - $216K (Tax Assessor) and $240K "redfin" (converted from a 3 to a 4 bed.) 

HOME 2 - RENTAL - CONV - (1905)

Loan Amount - $202Current Market Value - $216K (Tax Assessor) and $240K "redfin". Income $2100 (cash flow $450) 

Credit Score - ~670-680 

NEW JOB --- start next week Income 10K/month 

Debt --- Student Loans 89K, CC 22K

******Lender 1******

I requested a cash-out refinance. The lender is doing limited cash-out refinance. So that means that I will only get 2K. We are doing an appraisal, and he told me that after the appraisal if there is money left over then I'll get some money. But he has not told me how much? Is this normal? Shouldn't it be structure right from the beginning? 

****** Lender 2 ******

The second lender who seems a little over eager gives me these numbers. See the picture above. Do these numbers make sense??

@Deborah Burian

Would love to connect with you, I have toyed with the idea of investing in Ok. Now I m actively working on it.

Nandy

@Jeff Filali

I grew up in Stillwater and I m looking into the Stillwater and surrounding area.

What do you think about investing in Stillwater.

I currently live in Texas and the market is ridiculous here.