All Forum Posts by: Randy Rettinger

@D'Andre Byers. I found it when I was 51! I want to create financial security for my family and certainly my wife so she doesn’t have to work until she is 80... She doesn’t understand that concept quite yet, but is coming around to it. Be patient and teach. Your sold to be wife will learn how it could be rather than how it is some day soon and you could be off to the races. Living for today and having the house she wants isn’t the way either of you should live. On the other hand, make sure you are talking to her about her plan for the future as well. This is going to be a combined plan and it will need to work for both of you! It is a joint thing - this mystery called marriage and to make it work calls for a certain kind of communication - two way... Best of luck.

@Troy Larson Welcome Troy! What is bringing you to Albuquerque? I am trying my hand at this while I work toward the finish line on my second retirement. Hopefully building a portfolio of a few rentals will make for a better and more stable retirement. I would love to talk more about your interests and maybe we can work up a deal to partner on a deal or two to get us both in the works in Albuquerque. I have been here a long time and feel like I know the area, but things change quickly in this business.

Jacob, he is feasibly right in the method he probably used to acquire properties he owns as flipping wasn’t a common method of building a rental portfolio in ‘those days’. They saved their hard-earned money, put a sizable down payment on a property and had a full value loan that didn’t cash flow as much as a distressed house today that can be renovated, flipped and turned into a rental at a lower potential loan cost. That is the hopeful way of getting into the rental property business and walking away with a little cash flow in your pocket each month from the start. At least that is how I can see it working as I certainly don’t want to be putting up my funds each month to make the full mortgage payment for the first couple years, do you?

Jacob, if I had only started out at your age (about half my current age)... I just might be retired by now. Need help or just want to talk through the rough part of getting started, just contact me or any of the friendly folks on here. I am trying to work my way into flipping my way into rental properties so if we can help each other out, just let me know. I am always looking for a partner.

Matt, there are at least three that meet monthly in the Albuquerque area. Try Meetup.com or the Meetup app to find the groups you are looking for and you will meet lots of great people to network with at each of the different groups.

Good Saturday to you all! I am located in Albuquerque, New Mexico and fairly new to investing. I think I have the process down to a 6th grade science (or experiment at least...). I want to jump in with both feet but here is what I want as of today. I think I want to partner with someone who has the opposite of what I have. So what is that? Here is my list of available resources and then I will list the needed resources and let's see if there is anything missing. I have: The ability to borrow money (I have a good full time job), I have access to systems to evaluate properties and their ARV, repair costs, etc. I have credit, additional that is for the emergency stuff that comes up - oh, we need to replace the water heater and didn't plan for that... (we have all experienced that and didn't plan that in the renovation, right? I also have experience working with contractors in getting renovations done. What I am wanting to do is build some capital through some flipping and work toward buy and hold strategy at some point early on.

So, what do I need? Initial capital? The 10%, 15% capital most investment lenders want to see as seed money to lend you the 100K to buy and renovate. I have a little, just not the resources or private lender base to get going. Time - working 50+ hours a week makes it hard to find, evaluate, paperwork run, contractor search, manage renovations (I can do some) and go get that water heater is something I am lacking enough of... And someone to share the drive to get this done, renovate the right way and work toward that buy and hold strategy together.

We can build capital together through flipping, and if one of our properties seems like a good hold for either of us, then we can discuss and see who wants it, has the capital to refi it out and take it on as a rental and run with it. Full support of the joint venture to get it bought, renovated right and refinanced for the other and out for both. Then work into the next deal and back on track to make some money on the next flip, or buy, renovate and hold for the other person.

Everyone says it is easy with low and no money down, but I am finding it hard unless you have $30K sitting around doing nothing. I could have had that when I last renovated and refinanced my current personal residence, but I made the mistake of paying off most of my debt instead. That left with me great credit and the ability to borrow, but little capital to get the next deal. You know what they say, you can’t borrow money if you don’t have money... Any advice out there would be appreciated or if you are my opposite, hit me up. Thanks and always look forward to the great advice on this wonderful site!

Good Saturday to you all! I am located in Albuquerque, New Mexico and fairly new to investing. I think I have the process down to a 6th grade science (or experiment at least...). I want to jump in with both feet but here is what I want as of today. I think I want to partner with someone who has the opposite of what I have. So what is that? Here is my list of available resources and then I will list the needed resources and let’s see if there is anything missing. I have: The ability to borrow money (I have a good full time job), I have access to systems to evaluate properties and their ARV, repair costs, etc. I have credit, additional that is for the emergency stuff that comes up - oh, we need to replace the water heater and didn’t plan for that... (we have all experienced that and didn’t plan that in the renovation, right? I also have experience working with contractors in getting renovations done. What I am wanting to do is build some capital through some flipping and work toward buy and hold strategy at some point early on. So, what do I need? Initial capital? The 10%, 15% capital most investment lenders want to see as seed money to lend you the 100K to buy and renovate. I have a little, just not the resources or private lender base to get going. Time - working 50+ hours a week makes it hard to find, evaluate, paperwork run, contractor search, manage renovations (I can do some) and go get that water heater is something I am lacking enough of... And someone to share the drive to get this done, renovate the right way and work toward that buy and hold strategy together. We can build capital together through flipping, and if one of our properties seems like a good hold for either of us, then we can discuss and see who wants it, has the capital to refi it out and take it on as a rental and run with it. Full support of the joint venture to get it bought, renovated right and refinanced for the other and out for both. Then work into the next deal and back on track to make some money on the next flip, or buy, renovate and hold for the other person. Everyone says it is easy with low and no money down, but I am finding it hard unless you have $30K sitting around doing nothing. I could have had that when I last renovated and refinanced my current personal residence, but I made the mistake of paying off most of my debt instead. That left with me great credit and the ability to borrow, but little capital to get the next deal. You know what they say, you can’t borrow money if you don’t have money... Any advice out there would be appreciated or if you are my opposite, hit me up. Thanks and always look forward to the great advice on this wonderful site!

Good Saturday to you all! I am located in Albuquerque, New Mexico and fairly new to investing. I think I have the process down to a 6th grade science (or experiment at least...). I want to jump in with both feet but here is what I want as of today. I think I want to partner with someone who has the opposite of what I have. So what is that? Here is my list of available resources and then I will list the needed resources and let’s see if there is anything missing. I have: The ability to borrow money (I have a good full time job), I have access to systems to evaluate properties and their ARV, repair costs, etc. I have credit, additional that is for the emergency stuff that comes up - oh, we need to replace the water heater and didn’t plan for that... (we have all experienced that and didn’t plan that in the renovation, right? I also have experience working with contractors in getting renovations done. What I am wanting to do is build some capital through some flipping and work toward buy and hold strategy at some point early on. So, what do I need? Initial capital? The 10%, 15% capital most investment lenders want to see as seed money to lend you the 100K to buy and renovate. I have a little, just not the resources or private lender base to get going. Time - working 50+ hours a week makes it hard to find, evaluate, paperwork run, contractor search, manage renovations (I can do some) and go get that water heater is something I am lacking enough of... And someone to share the drive to get this done, renovate the right way and work toward that buy and hold strategy together. We can build capital together through flipping, and if one of our properties seems like a good hold for either of us, then we can discuss and see who wants it, has the capital to refi it out and take it on as a rental and run with it. Full support of the joint venture to get it bought, renovated right and refinanced for the other and out for both. Then work into the next deal and back on track to make some money on the next flip, or buy, renovate and hold for the other person. Everyone says it is easy with low and no money down, but I am finding it hard unless you have $30K sitting around doing nothing. I could have had that when I last renovated and refinanced my current personal residence, but I made the mistake of paying off most of my debt instead. That left with me great credit and the ability to borrow, but little capital to get the next deal. You know what they say, you can’t borrow money if you don’t have money... Any advice out there would be appreciated or if you are my opposite, hit me up. Thanks and always look forward to the great advice on this wonderful site!

Good Sunday to you all! I am located in Albuquerque, New Mexico and fairly new to investing. I think I have the process down to a 6th grade science (or experiment at least...). I want to jump in with both feet but here is what I want as of today. I think I want to partner with someone who has the opposite of what I have. So what is that? Here is my list of available resources and then I will list the needed resources and let’s see if there is anything missing. I have: The ability to borrow money (I have a good full time job), I have access to systems to evaluate properties and their ARV, repair costs, etc. I have credit, additional that is for the emergency stuff that comes up - oh, we need to replace the water heater and didn’t plan for that... (we have all experienced that and didn’t plan that in the renovation, right? I also have experience working with contractors in getting renovations done. What I am wanting to do is build some capital through some flipping and work toward buy and hold strategy at some point early on. So, what do I need? Initial capital? The 10%, 15% capital most investment lenders want to see as seed money to lend you the 100K to buy and renovate. I have a little, just not the resources or private lender base to get going. Time - working 50+ hours a week makes it hard to find, evaluate, paperwork run, contractor search, manage renovations (I can do some) and go get that water heater is something I am lacking enough of... And someone to share the drive to get this done, renovate the right way and work toward that buy and hold strategy together. We can build capital together through flipping, and if one of our properties seems like a good hold for either of us, then we can discuss and see who wants it, has the capital to refi it out and take it on as a rental and run with it. Full support of the joint venture to get it bought, renovated right and refinanced for the other and out for both. Then work into the next deal and back on track to make some money on the next flip, or buy, renovate and hold for the other person. Everyone says it is easy with low and no money down, but I am finding it hard unless you have $30K sitting around doing nothing. I could have had that when I last renovated and refinanced my current personal residence, but I made the mistake of paying off most of my debt instead. That left with me great credit and the ability to borrow, but little capital to get the next deal. You know what they say, you can’t borrow money if you don’t have money... Any advice out there would be appreciated or if you are my opposite, hit me up. Thanks and always look forward to the great advice on this wonderful site!

Hi Irv! Great to meet you on here and I think I am in the same path you are, except I am currently living in Albuquerque. I really think we have the same goals, ambitions and timelines and perhaps we could work together to make this easier, faster and better for both? If you can contact me at my profile information, and would like to discuss what we can do for each other, we can head down this great path together.