All Forum Posts by: Natalia Collini

Have you read Rich Dad, Poor Dad by Robert Kiyosaki? If not, I would highly recommend it. He is a big advocate of "good debt" which is debt that you use to leverage yourself into a higher position. When used properly debt can be a great tool to help achieve your real estate goals faster. The trick is not to over-leverage yourself into a place where you could get in trouble if the market takes a tumble. 

Hope that can help you a little with your first question! 

This is a decision you are going to have to make for yourself, I'm afraid. The different areas are going to be bringing in different calibers of tenant and it's up to you to decide what kind of tenant you want to be dealing with. Lower quality tenants means higher cost of turnover to your units, but if you're getting deals then it should also mean a higher rate of return. More drama and property management involved too. But it's also going to be quicker to build up a portfolio with lower prices and higher returns. So it really depends on what kind of people you want to be dealing with regularly. 

You could always start in a lower cost area and then upgrade to the higher priced areas once you build some equity. 

I hope that helps a little. Have a great day!

The answer to your questions is going to vary depending on your personal preferences and what you want to get out of Real Estate Investing. For some it is easier to start as a person and become a company later, while others start straight out as a company. Some people only want to flip, and others would do nothing but renting. Many will manage their own properties, while others want nothing to do with the management side of owning properties. Etc. 

An awesome resource that Bigger Pockets offers is The Ultimate Beginner's Guide To Real Estate Investing. It's a free PDF guide with links to blog posts and podcasts that will help you learn the basics and begin discovering what aspects of Real Estate Investing appeal to you and which ones you believe would be better for you to stay away from. Here's a link to the page: https://www.biggerpockets.com/real-estate-investin...

I hope that helps! Happy Investing and I hope you have a blessed day. :-)

Can you take a second job? Participate in the sharing economy (Uber etc.)? Find partners by attending local REIAs? Finding properties that are seller-financed where you can work out your own terms with the seller and possibly go no money down?

You could buy a multi-plex property with an FHA loan and live in a unit for a year which would require a smaller down payment to save up for.

I'm not sure I would personally take my eyes off the prize of wanting to manage properties full time by taking the effort to learn to trade stocks. In order for that to be successful you need to spend a lot of time and effort learning and studying the market. Shiny object syndrome. Plus I just don't trust the market. 

I hope something up there gives you a little inspiration towards your goal for greatness. 

BTW, yea Cleveland!! That's my hometown, and I'm actually heading back this weekend for a family wedding.  :-) 

I know hard money loans don't use your credit score to make their determinations. It's whether the deal you bring to the table is worth financing. So in that scenario it would be all about bringing the best deal you can find to them. 

Otherwise I would suggest networking with local investors to try and find some partners. I know that in my area I have found several people who would be willing to partner with me and fund any deals I can find, so long as the numbers work out. Is there a local REIA you could attend to start meeting other local investors?

A great way to get traffic to your website is to put out lots of valuable content. Write blog posts about wholesaling and networking and finding deals. As you learn, you could share the information and the process. It will attract other newbies and investors to your site and you will slowly become an expert as you figuring out how to teach others the information that you are learning. 

Hope that helps you as you start creating your fabulous new website! Best of luck and I hope you have a wonderful weekend. :-)

Yes there is and it's a wonderful thing too! :-)

Thanks Mark, blessings back to you and yours. Best of luck on your start into the Real Estate Investing world. :-)

Success is all about taking actionable steps towards your goals, right? Well I just finished taking a big one! 

For the last 2 months I have been waking up at 4 am every morning (Thanks to inspiration from BP podcast 157 with Hal Elrod) before my 5 kids get up to work through my pre-licensing class to become a Real Estate licensee. This past week I finished the class, took my state exam, and passed! I can't tell you what a relief it is to be done with it!

What next? Well, now that I'm so accustomed to waking up at 4 am every morning, I can use what used to be my study time for time to analyze deals. 

For anyone else that's just starting out...keep taking your baby steps! What feels like a tiny baby step today can turn into a monumental achievement just a couple months down the line as long as your actionable steps are CONSISTENT! I hope you all have a wonderful week!!!!!

<3 :-)

I am a stay at home homeschooling  mother of 5 (ages 6-10 months) and I was struggling with the same thing.  Then I heard BP podcast 157 with Hal Elrod and the miracle morning. It's changed my life. I began reading his book and waking up early and now 2 months later I am so grateful to have discovered this! I wake up at 4 am five days a week and it gives me time to ease into my day and get important things done. Then I'm ready to greet my kids and be mom for the day when they wake.

Of course the next step will be for me to hire some housekeeping help and eventually a mother's helper, but this has been a great way for me to find time just for me. I'm always too burned out and exhausted at the end of the day to be productive so this is a great alternative.