All Forum Posts by: Nick Albin

Talking to neighbors is a great way to get a lot of info. Plus who is to say down the road they might need help with a housing issue. If they saw you did a good job in helping their former neighbor solve their dilemma they might give you a call and have a potential deal for ya.

Thats why investors make so many offers before one is accepted. Because we cannot make them sell on our terms all the time. So just keep moving along and looking at something different.

Hey man I was in your situation 2 years ago.

The best advice I could say is. . .
Always continue to further your knowledge in REI.

Get a job that can work around your school schedule and save up some money while you are learning about REI.

Try and improve your credit score while working and going to school if you can.

If you are going to school in a city that you plan on living in afterwards then do things that are important for REI that don't cost a lot of money. Like learning the different areas in the city and which ones are right for your goals. Some are better for renting and others not so much.

Go into a hardware store and see how much things cost. It can give you an idea of how much materials might cost when rehabs are needed.

But the main thing is just keep educating yourself.

I'm sure some of the other guys will come in with a lot better advice but I hope it helps.

A friend of mine who has been doing REI for some years did a deal for 10k with a signature loan.

So, I'm sure there are some other options but its seems like a viable way to do it.

DO you know what the house could appraise for?

I am in a much less expensive area than jersey lol.

I should have all the repairs done by this week. The rental market around the area is good. I just gave the allowance just to be safe.

I will put that money and the maint. allowance into a separate account so I can save up just in case **** happens.

I will do that.

Ok so my guys looked at it and everything is a go. No serious stuff. Just some minor repairs. Mostly cosmetic stuff.

So here goes. First investment prop.

Gotcha well they are taking a look at the house tomorrow for me, so I will see what comes up after that.

Yeah I bought The Weekend Millionaire book after I saw REI listed it.

Awesome book. Helped give me some direction with some of the knowledge I have been soaking up over the past few years.