All Forum Posts by: Account Closed

Thank you @Brian Gibbons. I'll look him up!

Hi everyone,

Has anyone joined a mentorship program or has paid a mentor to learn specific aspects of real estate investing? I'm new to investing and after I close on our second MFH I wanted to invest in apartment buildings. 

I don't have experience with closing this type of deal and figured learning from someone who does this is the obvious route.

I'm not looking for a guru, but a real person who can show me the ropes. What are your experiences with a mentor? Who would be a good person to get in contact with? How would you pay? Through an investment they get a stake or paying cash?

Thanks

@Raeshelle Cooke I feel you. I also want to build wealth with real estate. The multi family market in Providence, RI is getting really popular with investors. We bought the house at 170,000 and the owner was eager to sell and included the closing cost in the price. 

The unit we live in needed some repairs and we decided to do a little more work just to add value. When buying FHA the house needs to be move in ready. This house was move in ready but we gave it fresh paint and updated some appliances.

I think the best thing to do is just start where you are and make connections. We are planning to buy a second multi family home next year using the savings from living in this unit. Think about getting a three family instead of duplex so your mortgage can be covered 100%. Keep saving your money like you are paying rent every month while living on the property.

I wish you all the luck, I'm just starting myself and I wish I could make more moves than I can right now but I just have to keep saving and get as much info as possible. Please let me know how your search goes, message me!. If you do make your way to the RI area hit me up. :)

@Raeshelle C.undefined

@Raeshelle C. everyone here have really great advice. We just bought a 3 unit multi family property and we live in one of the units. The other units cover our mortgage 100%. We used FHA and put 3.5% down on a property that cost 170,000 including closing cost. We live in Providence Rhode island about 45 minutes from where you live. Are you willing to move? Try looking for homes in your surrounding area. Hope this helps.