All Forum Posts by: Nichole B.

@Alan Grobmeier Probably a little jaded :-D  
Seriously, though, I attend an REI group in my area that I think is pretty great. They eschew self-promoting speakers, and instead have speakers that can actually help - such as a city alderman, a CPA with REI knowledge, etc. Occasionally, a member will give a "REI 101" presentation that is geared toward new or potential investors. I hope you find a good group. The one discussed here has great potential. :-)

I know I'm not in the PHX area, but there is a smidge of a possibility of relocation for us, which is why I'm following this thread.

Hi, Josh, and welcome to BP! I'm new at REI, also, but do not plan to purchase my first property for another year or so (b/c I am aggressively paying off credit card debt this year). In the meantime, I have become active in my local REI group, am running analyses on potential properties to learn the market, and am constantly listening to BP podcasts. I love that you are considering investing in several markets. I'd love to do that, too. Congrats on your first purchase, and I hope it snowballs into a nice REI empire for you :-)

~Nichole

A BP podcast that I listened to today impressed on me the "courtship" that happens when meeting with lenders. Go to BP Podcast #124.  The whole thing is a good one, but for this topic, go to minute marker 29:00 (on the YouTube video version).  The guest, Jered Sturm, got a lender on board simply because he sat down with the guy, showed him his portfolio, and spent a half hour chatting with him (i.e. developing a relationship) wore a tie to his meeting with the lender. The banker was on board because he made a professional presentation, and because he wore a tie. Brandon T. then explains the steps he took to impress a banker to secure a loan, which included creating a portfolio to showcase his experience and to show why the property was a good deal. 

I think a lot of times, especially with the emphasis on digital communication now, people can overlook the importance of interacting in person and putting forth an effort to put their best foot forward.  I did think that her reply to you seemed snooty, but there are a hundred more lenders to woo :-)

 I'm SO sorry... I made a really bad post, before. They do *not* meet every night, they meet every month - 2nd Tuesday.  I don't even know how I made that bad of a mistake!  The FB group is regularly active with posts/conversations, and the people there (and at the meetings) seem eager to answer questions.  

If you don't mind driving to Bloomington, there is a Meetup group called Central Illinois Real Estate Investors, and they meet each night. They also have an active Facebook page of the same name. There are many very experienced regulars who have a lot of insight and are generous with information. I'm also a newbie... want to pull the trigger and buy, but not quite there yet. Hopefully soon. 

Hi, @Libby Baugher! We're in Normal, and are just dipping our toes in. Good luck finding your first deal!