All Forum Posts by: Ricardo Olea

@Chris Mason yes that crossed my mind but i try to give people the benefit of the doubt. Hoever it sounds like you have experience withthis, do you mind sharing more? 

Just some newbie knowledge I want to share with you guys. 

I started going to open houses in my area like BP members suggested and along with forming connections in my community I learned 2 key things. 

1. It's true what they say, Real Estate Agents/Investors want to share their knowledge and experiences with you.

2. I am taking my salesperson test next month and guess what, all the brokers immediately ask who I'm hanging my license with and start their sales pitch. It feels great!

I had already planned on getting my license but had little knowledge on investing. About 5 weeks of BP podcasts and forum reading and it seems like its all paying off. Thanks @Brandon Turner  and @Joshua Dorkin  for giving us the best, free, no BS advice. Keep you updated on my journey!

Congrats! Fake my next month

Great advice @Jon H.

Good Evening Fellow Members,

Here I sit wondering what steps to take to begin my REI career. I am stuck in between wholesaling or buy and hold. I would like to be at the buy and hold level, however, I am not financially set to jump into that market. On the other hand, I've read and listened to Bigger Pockets Podcast and they have said that wholesaling is a good way to get into the business with little money. I am not completely broke but what I can afford is mainly marketing myself. I can put together a headshot, website, business cards and flyers to spread the word.

Should I just get into wholesaling as a way in then work my way towards my bigger goals? Any input would be appreciated, need some advice. Thanks in advance

Thanks for the feedback Matthew Porcaro I was thinking the same exact thing, get a multiunit rehab and rent out all but one. Good to know there is an actual source proof doing it. My lender said it a RE secret that not to many people take advantage of. I am also a AD Marine so he said I could use my VA loan to my advantage.

Hello BP,

A first post looking and looking to get some good feedback. Decided to get the ball rolling, you know what they say you have to actually get started to be successful. So I contacted my Loan Officer who helped finance my townhome and he was glad to meet up and discuss REI.

Originally asked to talk about some HML possibilities really just to get educated and he touched on HML but I felt like he was "selling" me for a while. I immediately put up my guard but then he started actually explaining a lot of the business side of things and I figured "hey the least I can do is listen to his pitch."

The information I got from him was very insightful and he brought up some good ideas that I never knew about and sounded good. He told me to look into the FHA 203K to start buying properties to live in and rehab at a slower pace to get my feet wet and then refi and use the profit to do the same process on another home then pretty much wash n repeat.

My question is does anyone have any experience using a FHA 203K and doing this process before? I am not in a rush to make the big flips yet, I want to be patient make as few errors as possible. At the same time, my financial status doesn't have me in a position to do much thus my initial thought was HML. Looking forward to some feedback. If I don't get back to you ASAP it because I'm going to sleep. I'll get back to you in the AM. Thanks

@Account Closed will do, that area has my interest. 

@Kevin Fox thanks I will be sure to ask questions of the pros and someday hopefully be able  to help others too. 

I appreciate that Michael, going to do some more reading on the basic before I start bugging members.