All Forum Posts by: Renae Pinkney

Hello All, Can anyone explain equity, the equity to loan ratio, and why it would be important to have a high equity as a buyer? I'm understanding so far equity is how much a owner has paid towards their loan? So would it be fair to say if the equity is low the buyer would have to put down more and it would be less likely to get a bigger return ? So what's an acceptable equity percentage to search for when attempting to build a list of preforeclosed motivated sellers?

Hey @Dan Waugh, I live in PG County and my fav color is red! :) lol Im starting out in wholesaling but have read a lot about the BWI REI meetup that you can find on meetup.com as well they list their upcoming meetings, Im sure you'll meet some of the folks you're looking for.

@Russell Brazil thanks for that link as well, I see the next meeting is Tues I'll def be there or at BWI! 

"I read, networked and learned from great people I’ve met along the way."

@Mark Cruse This is exactly what I plan to do. Im so glad I got some great responses on this post. 

@Chris Martin what an interesting thread! Thats actually the same one I attended. I'll take my chances by attending other REIA's before I return to the one there that is free and supposedly contains more/"better" content.

Thanks @Teresa F. that was great advice! And I'll definitely plan to attend one of the upcoming Greenbelt meetings, I like hands on and it kind of reminds me of the the Robert Kiyosaki board game. 

@Account Closed  thanks for your input! 

Thats awesome!!  You'll be seeing me there soon.

@Eric Johnson

Thank you so much guys @Russell Brazil (you're always helpful on my post) . It was almost like I started to get flashbacks from a bootcamp I attended trying to get started in October where programs were $10,000+, so it wasnt a great feeling. I found a list of REIAs on here so I'll gradually take look at all and take something from them all. @James Green

@James Bowerman I created a meetup account so I definitely plan to attend that location in the coming weeks. 

@Ray Slack that I would be more comfortable with had someone talked about a topic and then mentioned their services and prices at the end. But its all a learning experience and I know what to look for now. The PG County REIA was the one I attended. Im going to check out the Baltimore one next.

@James Bowerman

Hey Guys, 

So I went to a local REIA yesterday that was hosting a meetup about how to get started as an invester. Felt really excited about going and potentially joining since I read there are benefits to joining a REIA because you can network and meet potential buyers, mentors. and or potential partners. I was let down by the end because of course they wanted to upsell me on a product to get started in 21 days by following some steps, I declined and left shortly after. The instructor also mentioned membership packages gold starting at $149 which included the product gold+ $199 including the product and mentor and so on. My question or concern is this how REIA's nomally work? Would I have to pay $100/more a month to be apart of an organization? Really need some advice here.

Hi Everybody! 

Looks like Im on BP more than FB nowadays! :) 

After reading a couple articles I've decided this week before Sunday I will be sending out my 1st batch of direct mail pieces and just wanted to get some general advice or motivation. My initial budget will be $100 since Im targeting my preforeclosures, absentees, and expired listings in my backyard and neighborhoods next door. I figured this would help motivate me since trying to learn my market seems like a tougher task right now but, Im hoping my local tax assements sites, the washington post, listsource and other would help me with this.  My only issue with this I guess is what if I get a response, technically I dont have a extensive buyers list except for one guy thats responded to my craiglist ad ( I plan to post everyday about the need for buyers). 

I also plan to take a friend of a friend out to lunch next week who's a real estate agent, other than the MLS what types of questions should I be asking or how could I be an asset to her? I feel pretty confidant with the sources I have for building list of possible sellers. My only issues right now are learning the market, getting my buyers list, and knowing how to present the deal to buyers (I'm thinking of upping my account so that Im able to use the calculator).

Any feedback or ideas are welcomed. I def plan to search on the forum other users marketing tactics and success stories but feel free to share yours. 

Renae