All Forum Posts by: Shirley Frias

This guru offer gives me this idea of a perfect/easy/no hassle real estate investing but the truth is , like most of you said, it still up to me. I still definitely have to put all the effort to make it all work. Experience and lessons (could be from mistakes) will make me an expert. I am so happy to be in this community who are honest and supportive. I don’t need a guru. Thanks guys!

These are all great advices! @Chris Tan, i think you are right.

So far, all of your feedbacks supports using the money to jump into buying the first property. That’s what my initial thought process was, but as many of you who may have attended real estate classes that offers these types of ‘systems’ or ‘gurus’ that costs thousands of dollars, they make it sound so enticing that makes you think the other way. So right now I am still not willing to spend 30k for what they offer but I am thinking of all the time and effort that is going to save me if I pay them to help me. They offer “great systems that is proven to work”. I will have access to their programs/checklist/premade contracts/ templates as inspiration and guide for flipping. You guys are right that I will certainly could learn this online or by reading but what is 30k if they could help me make hundred thousands of profit in return? And get me there faster vs if I would do it myself. Another thing is if their system is truly effective then I could save myself from doing many mistakes many new investors make? Please straighten me up. All thoughts are welcome.

Hello Everyone! This might sound like a no brainer to most of you but I want to hear your thoughts about this situation.. If you are only starting out in REI (no experience and don’t know anyone personally who could help you) and you have 30-50k, would you spend that on a mentor that will guide you step by step on buying properties (almost guaranteed you’d find a great deal fast!) or would you spend that straight on buying deals all on your own (which could probably turn out as a bad deal?) Will appreciate your thoughts!

Hello everyone!

I am a novice and I'm on the process of looking at possible great deals around my area through the MLS. I have not made deals or coordinated with real estate agents yet, but doing my own analysis, estimating expenses and calculating possible cash returns based on the retail prize, looks like there's not a lot of good deals out there. I know that the solution to this problem is simply to start making offers that will bring me good cash returns. However, I'm still not comfortable doing that mostly because I know I still have a lot to learn about REI.

For this post, I want to hear your own experiences starting out. What was the biggest challenge you faced before acquiring that first property and what did you do to solve that problem?

Can't wait to hear and learn from your experiences!

Shirley :)

Hello neighbors! I’m also very new to REI. Where can I find out more about Tidewater investors group?

Hello, Happy Memorial weekend!

So I understand that in order to buy the next investment property, refinancing is a great strategy. I hear that if the property appreciates, yada yada ... you can pull money out and use it to invest on more properties. The part that I need more enlightening is what happens to the new loan of that rental property after you refinance? The upside of refinancing is you get money out, but what is the downside? Is the mortgage higher? Do you have to pay the house on a longer term? Lastly, how soon can I refinance (pretend the house appreciates a good amount in a year). 

Also just out of curiosity, why do banks give you huge amount of cash when you refinance? how does it benefit them?

Lots of questions there. Hope to hear some great responses :)

Hello everyone!

I am a new born baby in real estate investing. I am still on the process of learning how REI works. Have not read much books but I'm listening/watching podcasts from Youtube and been reading posts on the forum. I'm itching to buy my first house (I even dream about it!), but I have so many questions (I dream about them too like nightmares!).

I live in Norfolk, Virginia (to my neighbors out there please say Hi, would love to get in touch), and I think it is a perfect place to buy rental properties. Norfolk is a Navy base area and we have big hospitals and universities around. For my first property, I plan to buy a duplex and do a house hack. I have about 20K on my savings but of course I would not want to use up all of that. So I am planning on using FHA loan.

My question for this post is: When can I move out of the house to free up the unit for another renter? Also, when can I buy my next property? I've been hearing refinancing and HELOC and I tried to research more on it but those words still don't make sense to me. And what are the cons of refinancing?

I know its a lot of question but if you have time to answer please explain in elementary and numerical examples would be great!  Hope to hear from you guys. Thanks in advance!

Shirley :)