All Forum Posts by: Rayelle Garrick

Brian I think this is a great question that has been mulled over for years. I sold life insurance for 5 years and the education I received about the difference in life insurance policies and the purposes for each has completely convinced me that a Whole Life insurance policy is not a good option for investments or insurance.

The purpose of life insurance if to protect your family and assets in the unfortunate event that someone has a pre-mature death. Therefore, it is a necessary expense and should be taken seriously. There is a clear difference in price between Whole Life and Term insurance. 99.9% of the time, Term Life insurance is always cheaper and provides higher coverage options.

To utilize a Whole Life insurance policy as an investment pool of accumulated finances is not the way to go. If you borrow from the policy, you have to pay the money back along with the interest within a certain amount of time or your insurance policy will lapse. Instead, if you purchase a Term Life insurance policy and invest the monthly savings on your expenses you will have an investment fund you can control and can earn compound interest on. This is definitely the way to go.

Earn money for yourself, instead of paying someone else to borrow YOUR saved funds. Smartest move!

Hello Ayesha and welcome to BP! Below are some recommendations that were passed to me during my first weeks on BP. I hope they can be of use to you so you can connect with resources in your area and continue your knowledge building.

Find and connect with other BP members that are in your area:
Set up keyword alerts to be notified of the topics that interest you:
Read Beginner’s Guide:
Check out BP Podcasts:

Wishing you the best!

@Patti Robertson Hello Patti and thank you so much for reaching out to me. I am on the TRIG mailing list and I was super excited about Robyn speaking at the seminar. Unfortunately I am in DC on other business this week. I hate that I'm missing this opportunity. I would love to stay connected with you, and maybe we can connect at the next meeting.

I wish you the best and hope you gain something from the guest speaker!

@Dmitriy Fomichenko Thank you so much for the response. I try to take advantage of all the resources BP has to offer and I will be sure to utilize the meet tool to become acquainted with investors in my area. Thank you again and best of luck with your endeavors! 

Hello @Tiffany S. thanks for your response. I am interested in my first deal in the area to be a buy/hold. I have been looking at acquiring a Duplex/Triplex and doing a live in rehab of one of the units. I know I will have an interest in flips, but if the numbers are right. I don't feel I have the network yet in this market to get good quotes for rehab cost or any other expenses to see good margins on investments.

I am a new investor in the Portsmouth, VA area. I just moved here from Houston, TX where I was working under a mentor who is a local real estate investor in the Greater Houston area. I learned quite a bit from him as far as real estate strategies, transactional funding and the general idea of how to find the right deal. Before I was able to purchase my first property, my company offered me a position in Virginia and I took it because it was the best move for my career progression. Now that I am in this new area, I would like to acquire new relationships and learn the market in Portsmouth and nearby cities. I used to assist with scheduling appointments, house clean-up, construction clean-up, visiting potential properties, taking pictures, general deal analysis and a few other entry level activities. I am willing to perform some of these task free of charge for any local investors who could use a hand or a second set of eyes when looking for deals.

I have been in the area for two months and am ready to get going! I have a savings that is ready to be invested once I gain the appropriate knowledge to make smart decisions.

Please feel free to reach out to me about any needs for your business or desires to coach.

Thanks!

Hey Victorie,

I am new to the Houston area and am looking to get involved with the REI.

Can you please tell me more about the Expo event you will be attending? I would love to join!

Hey Pete!

I'm new to this site and looking understand how to analyze properties.

Based on the information you listed below, how did you come to this conclusion with your numbers?

"In the property's CURRENT state, with crummy low-rent tenants, and a cool, huge house in need or major renovation, getting ~$100 a door would require a final selling price at something like 45% of list price."

@Shyda Kadar - Thanks so much for reaching out! I am in the process of pin pointing my strategy to begin wholesaling and I would love to give you a call sometime.

@Andrew Farmer - Hey Andrew! I am very interested in becoming more active with social real estate groups. Is there a particular event that you are attending soon?

@Tavaria Adegbite - Tavaria! I really appreciate you sharing with me, I have some interest in the third ward area and am still familiarizing myself with the neighborhoods. If you ever need some assistance on the weekends I would be more than happy to lend a hand and get a better feel of the layout of the area. Please keep in contact!

@Randall Jacobs - Hey Randy, I just asked someone about the REIA yesterday and I think they have a free event coming up next month. I'll definitely be taking advantage of that! Thanks again!

Hello BP Nation! My name is RaYelle and I am a new member to Bigger Pockets! I was introduced to the podcast through a colleague from work who knew I had an interest in investing. Since then I have incorporated the podcast into my everyday routine and I can't get enough. I recently moved to Houston, Texas from New Jersey. The move was for work purposes, I am a Civil Engineer in the Petrochemicals industry. Since then I have found so much potential in Texas and I would like to make it my home. I am interested in networking with current investors and furthering my education in the industry. I have 2 years of Property Management experience in student housing. Since then I have known I love the real estate industry and I could do very well in it. I am still very basic in my education of real estate, but I am looking to change that completely and do my first deal before the year 2016 is over. You will be seeing a lot more of me and I hope to meet some great people through this community. Be great!