All Forum Posts by: Sachin Acharya

@Matt Dycus

Hey Matt

Welcome to Bigger Pockets. If you are interested in learning about real estate investing, you are in the right place. 

I am a beginner myself but I can tell you, the members here are extremely helpful and friendly. 

Do check out the podcasts as well. They are an incredible source of knowledge and inspiration. 

Given your particular context you may benefit from house-hacking. Read about it. 

I wish you a very successful investing career ahead. 

Regards 

Sachin Acharya 

@Davon Velasquez

That's an excellent question. I am hoping to hear a lot of success stories in response to your post.

I am not sure if my personal story will help because it is incomplete and may be unrelated in terms of location. I will share a quick version anyways.

The place was Thane a suburb of Mumbai, India. The year was 2003. Cash at hand, zero. We bought our first home for INR 600k using credit cards to fund the down payment. 3-4 years later, we sold it for 1.4 million. With the proceeds after closing the mortgage, bought a bigger house in a better location for 2.7 million. Another 3-4 years later sold it for 4.5 million, and again with the proceeds bought another one upgrading the space and location, for 9 million. This one though was an under-construction property which took 4 years to complete. This gave me the option to make gradual payments. Last year, we managed to pay off the mortgage. The property is now worth 14 million, free and clear.

Two caveats on the above. First, the value of Indian rupee has depreciated over the years thus pushing up the inflation unrealistically. Second, over these years my wife and I have grown in our respective careers and our income has grown substantially, which is how we were able to take on bigger and bigger loans.

Now that we are debt free, we are now saving money for our first "investment" property.

Regards

Sachin Acharya

Hi @Ed C. 

Welcome to Bigger Pockets! I love the fact that you are willing to work for free to be able to learn. 

I wish you all the success in your RE career.

Regards

Sachin Acharya

@Cody May the guy is 20 minutes away from you. If I were you, I would go directly visit him and say something like "Hey, I was just passing by and thought I'll stop to say hi. Not sure if you remember, I have been your tenant before, and I am getting into real estate. By the way, you own a lot of properties, right? That's impressive. Hey, why don't we catch up over coffee?". 

I don't intend to give you a script, but just an idea. 

The point is, with the letter, the best that can happen is he'll contact you, and you have to do the above talking anyways. The worst that can happen if you visit is he'll kick you out (very unlikely right?)

Look Cody, your strength is your passion and willingness to learn. Use that to your advantage. Grammar and written language is not your best strength. This is why I suggest a face to face meeting rather than a letter.

Most importantly, take action! We are waiting to hear from how it went!

Hi Cody

I am not a very experience real estate investor, but I would love to add whatever value I can here.

I love your thought process and humbleness. This attitude of yours is gold. Protect it and keep that fire alive as you grow in your real estate investing career.

Few questions for you:

1. Do you live in the vicinity of this potential mentor of yours? (I am asking this to check how feasible will it be for you to keep up your commitment of weekend apprentice)

2. Are you willing to accept grammatical corrections to your letter as well?

3. Have you considered calling him up instead of a formal letter?

Regards

Sachin Acharya

Hello Lisa

Welcome to Bigger Pockets!!

Do begin with, I would recommend Brandon Turner's book The Book on Investing in Real Estate with No and Low Money Down. You can access it from www.biggerpockets.com/nomoney

All the information that is in the book is available for free on this website. What you pay for is the convenience of having all the information put together in one place.

In addition to that, I recommend listening to the Bigger Pockets podcasts, which is another great source of learning.

Focusing on learning will hopefully give you something exciting to look forward to in your life. That's what it did to me over 6 months ago and it turned my life around, filling it with hope and excitement.

Gook luck and Happy Learning!

Regards

Sachin Acharya

Hi guys 

I am originally from Mumbai but I'm living in Dubai. I'm looking at investing in the commercial office space in Mumbai. If there's anyone out there doing the same thing already please let me know. I would like to connect with you and learn about the market. 

Thanks 

Sachin Acharya 

Thanks for the advice guys. I really appreciate it. 

Besides buy and hold, do you see any other strategies that can produce cashflow? 

Dear Experts 

Here is where I am and where I want to be. Please help me out. 

Note: I live in Dubai but I'm going to convert the numbers from AED to USD to make it easier for you to understand. 

I have what I believe to be a decent job. I make USD 6800 a month. Of that, I'm able to save USD 2700 a month because we can live with the rest and my wife's income. 

I have saved like that for just 2 months now because before that we were focusing on closing down our loan back home. 

Now, I want to quit my job as soon as possible because, frankly, I can't tolerate my boss anymore. There are many other reasons as well, but I'll stick with the top 1 here. 

I can't get another job because I am not academically qualified. 

What suggestions do you have for me to replace my income from real estate? 

Thanks in advance 

Sachin Acharya 

@Youssef Benallai

Welcome to Bigger Pockets. I live in Dubai too. There a lot of investors here meeting regularly and discussing, learning from each other. If you are interested send me a message