All Forum Posts by: Shaleaha Flowers

What's up everyone, I am an aspiring real estate investor. I am also in the military so I am eligible for the VA loan. I currently don't have any properties, but I am actively looking for a house hack in the city of Huntsville, Alabama, so I can stay there and continue schooling. I see maybe 1 or 2 potentials(4-plexes), but I haven't ran the numbers yet. I have been watching bigger pockets on YouTube for some time now so I decided to come here and hopefully get more education and help before I decide to make the hardest step in investing in real estate which is the first one. I hope to be a guest on the show one day. Anyways once again, Hello!

I'm of little help as business plans bore me, never paid a mentor, never joined a networking group. I did read the Millionaire Next Door and Rich Dad Poor Dad. Both should have been 2-page pamphlets instead of books. I did learn the comps in my zip code, bought a SFH property at auction, developed my skills with a hammer, paint brush, shovel, rake, lawn mower, got friendly with crawl spaces, learned to lay floors, patch walls, hang lights/fans, bought used appliances off CL, establish relationships with trusted trades, drafted a rental application and M2M agreement.

13 years and 26 SFH rentals later, my hobby cash flows life and is a great part-time time job.

Rather than rely on a spreadsheet, work with a realtor who deals with investors. They should know the numbers as well.  There is more to it than the age and size of the home.  Location is key.

How much will the renos cost and what is the after reno value?

@Shaleaha Flowers- great - make sure the pre approval  is  a full formal one ( menaing  credit is pulled ...you provide your data to the lender ....you get  approved for  whatever  scenario  you want to use ......if you want to  check pricing -  get  some  quotes  fro your  scenario from the lender  you use  and  then   using the same  criteria  - call a few other lenders to  comapre rates / fees  etc ......aslo - fyi - loan pricing cant  be locked in  until you have a  purchase contract on a proeprty ...so the  pricing now doesnt  mean  much  but at least it will give you idea on present  price levels ....also  loan pricing  changes  daily - good luck

@Shaleaha Flowers- if you need  financing and  if you havent  already done so -  pick a  scenario  to work with and  get formally  pre approved  for a loan  for this scenario ..... without financing  in place - the next steps are  harder to take - good luck 

Hey Shaleaha! If you haven't already...you should come out to our monthly Pints and Properties event (last Wednesday of each month) at Pig Pounder Brewery from 6-8pm. We have a new speaker each month. It's a great networking event for anyone who is interested in getting started or for anyone who already involved in real estate investing. Plus it's a great space! Our next event is on Wednesday, April 26th. We hope to see you there!

Congratulations on your progress in your real estate investing career! It's great to hear that you found a supportive and experienced mentor who is willing to guide you along the way. With her help, you'll be able to navigate the local market with more confidence and make smart investment decisions.

Networking events are also a great way to connect with other investors and professionals in the industry, so attending them with your mentor will provide you with valuable opportunities to build your network and learn from others' experiences. You'll be well on your way to building a successful real estate investment portfolio. Good luck!!