All Forum Posts by: Ramon Cervantes

Thank you @Julie Marquez!!

This is for personal motivation but may encourage others

   I am not money-hungry but I do hunger for new challenges and experiences

   I am no stranger to sacrifice and discomfort

   I believe to have a fair balance of personal desires/dreams and compassion and empathy

   I do not jump in. I torment, plan, anticipate, calculate, rethink and start all over again every day

   Then I jump in and never look back

Thanks for reading, feel free to add your thoughts!!

Thanks to everyone for their helpful input! 

@Kevin Fox I actually was thinking long term as far as the 10k equity, I simply failed to mention my goals. Please share your thoughts on my response if you have time sir.

This property is in a very desirable area and has been going up in value. First I need to hit the 2yr mark to avoid capital gains tax if I decide to sell within 3 yrs after that (5 months from now, 5yrs total). So a little patience will benefit me more in the long run in the way of equity if I hold, or in a higher profit if I sell.

Thank you all again!!!

   Hey anyone! I had planned to sell my personal house and use some of the money to put 20% down on a new home and the rest to begin my real estate investing (flipping). The house I planned to buy with the 20% down would be my personal residence but would get fixed then turned into a rental eventually.

   Well, I though, why not instead borrow from it the equity I need and eventually turn it into a rental? I am already fixing it up and know it is a solid house that is going up in value. If I do this, I would not only save me time on buying and fixing again but also not loose the 10k or so that it would cost me to sell it (not to mention the moving costs). That amount would remain mine in the form of equity.

   I think it is a great idea, any thoughts?!?

Thanks

Thank you all for making me feel so welcomed! Have been reading and absorbing as much about real estate as I can before I make my move. I will be more active here when I start, for now I am fixing my own house (and working my full time business) to get it ready to sell. Thank you all again

Thank you!!

   Hi, my name is Ramon "Raey" and I am scratching a path into this area of business. I have always loved looking at houses and buildings, architecture and interior design. Over the years there has been a pull in my heart towards what I recently realized is real estate investing! Please wish me well, for in the next few months it will be a time of no turning back. Thank you all!