All Forum Posts by: Raeshelle C.

I'll lay a few nuggets out here even though I'm not sure you are ready for them yet. I'm not an overly religious guy, but one of my great grandfather's favorite proverbs went something like, "Babbling brooks are shallow but still water runs deep." I would suggest also reading a book on emotional intelligence so you can begin to manage your own emotions and the emotions of others. True emotional intelligence mastery is a beautiful thing; it is kind of like having the ability to mentally separate yourself from your body and look at yourself from a distance before deciding how to properly act. You can't change how others behave, but you can change how you react to their behavior.

With regards to real estate. I like that you are a fighter, you'll need that. I don't personally like your hands off approach with your first property as far as hiring a property manager right out of the gate and not really being open to fixing stuff. Get in and get dirty, learn and grow. You want problems, problems mean you have a tenant. "You've got to be bigger than your problems."- Secrets of the Millionaire Mind. I did some painting and light stuff, anywhere I could provide some sweat equity on my first deal I did. It is also easy to answer phone calls, why pay someone else to pick up a phone and call a repair guy, you can do that. When you have 13 properties, then you can begin looking for some relief. Oh, and I too started with a 10k loan from a credit union at 8.5%. I had 8k of my own money, used Lowes and Home Depot credit cards to purchase materials interest free for 18 months, and bought an all in investment property that rents for $675 a month. I literally bought a house for 18k, sure that might not be possible in your area, but at least you have an example of someone that thinks they can get rich off a 10k start up (I think I overpaid for the property, I see some on the market now in your range I would buy). Tax time, I'll cash out refi the property and move onto number two, maybe even number three too because the appraisal will be pretty nice off the dump house I bought in a C area. The nay sayers you have been trading jabs with throughout this thread think differently than you and I do. I'd find a way to kick some serious butt with 10k in real estate and never look back. I hope you read paragraph one, it was more important than paragraph two.

@Raeshelle C. Ask your coach/mentor those questions you thought I should answer.... Looking back over this, you seem to think they have an absolute grip on REI.... No mam, they don't.

My answer to your PM and hopefully my replies here, and in view of your "Whatever" take on life and action in REI is, may not give you reason to wake up tomorrow to get in committed pursuit of your dreams and stop letting others dictate to you their will, which you are paying for-- but hopefully someone else will.... See ya at the crossroads on your paths to success!

If you believe for a minute I was just speaking to you, well, there is a saying I learned recently when looking in the mirror you see the worst enemy you will ever face.

@Raeshelle Cooke. My bad. The post I mentioned was from you 8 months ago. 

In my first reply to your post it was more or less from the heart with experience here on BP and mistakes I will probably never recover from. Afterwards I took a second good look and my brain stepped in, so I'll probably make more mistakes.

There are several thousand people a day here on BP that are either 100% or 0% about REI.... No one has to agree to disagree or even chime in. I think I joined initially in 2013 and argued, had confrontations, and flat out told a bunch of people to go .... off somewhere and meant it. And probably will tell them again.... Why? No one can shatter my dream unless I allow them in with negativity and believe it....

So, the go .... off always registered in my mind when they post. Why? Basically, they were telling me I would fail in my plans.... As the saying goes, failure is the result of not trying to you are satisfied with the results.

I made $9500 between August and October this year with OPM.  It didnt happen like I planned, but it happened.... So my plans were shot to sh.... Am I good? Nope. Need to gain control of my plans to pursue my dreams..... Am I broke? Nope. Have some cash being used to invest in what I know I can do TODAY. Use my wholesalers' toolbox which a lot of knowledge from BP is in.....

@Raeshelle Cooke, you said you want to act now?  Honestly, you may have wanted to act a long time ago when you joined. But if you absolutely serious, scroll down to the bottom of page and click on Stats and see who sees you here.... 

Me, I made some mistakes and am going to make some mistakes here.... I may have made $500 from BP poster it covers cost for 4 years I think.  The posters are looking for deals by formula.... Investors need to spend their money either at Saks or in real estate.

@Raeshelle Cooke. I just read a previous post of yours about having $20-$25K saved. Now you are looking to get a personal loan for $10K?  The previous savings amount is your bizness, and life happens. But I gotta ask, did you invest in real estate with that amount?

You over here talking about 1031's and idk what else, yet you haven't even done your first deal. Worry about finding a Deal FIRST, making a PROFIT and then you can come up with ways to defer your taxes. Do it, don't just talk. Yeah you can start with 10k even if it's a loan. Hell yeah. I did. Payed it back. Kept my profit. And you repeat.
But I'm in TX, RE isn't as expensive compared to other places.

I️ think a good strategy would be to partner with one or two other people on your first deal. If it’s one third each you bring $30K to a deal.

I've enjoyed this.  Scrappy dreamer telling everyone whats' up!  It's good to have goals.  The difference between a dream and a goal is an actual plan,  with deadlines and mini achievement targets along the way.

I fear your 'mentor' isn't much more than an expensive coach, but I may be wrong. 

With $10,000 of someone else's money that I had to borrow, I would be saving and paying down my other credit card and car debt.  Prove to myself I was serious.  I'd brew my own coffee and brown bag my lunch while driving my beater to my 3rd job.  I would live this goal everyday.

After that and I'd saved up some of my own money, I'd house hack - probably a plex. My first place was just a house because it was a long time ago and I didn't know any better. That house afforded us a HELOC we used for DPs, then we rented our primary out and moved to a doublewide to reduce our shelter expenses to less than $300/mo. $0 if you counted 'cash-flow'.

If you want to have rentals but not deal with tenants, most PMs cost 14%-18% by the time they charge you for the extras just so you know. 10% is a lie.  Tenant placement?  1 month's rent.  Maytag man coming out to fix every little thing?  $300/minute.   There will be no soup left for you.

Most of us that survived doing this for more than a year were working 'in' our business early on.

I like your drive and your scrappy-ness @Raeshelle C..  With some money, I think you could do some damage out there!