All Forum Posts by: Simon Aristizabal

Thank you so much for that valuable information @Upen Patel! Don't worry you did not burst my bubble at all, on the contrary I learned something new which can definitely lead me to other options I can look into.

It does seem like the 203k is quite a hassle to start with considering where I stand right now. Plus it does not seem like the most viable option for me either given that unfortunately I do not hold the capital to go with it.

I do appreciate your time to explain a little bit about 203k's.

I will keep looking!

Thank you for your message @Raymond B. I definitely will spend hours in there!

Thank you for your response @Patrick Britton! Good thing I asked before actually going in to search for a 203k loan. I will definitely look into the Fannie Mae's program and contact a few mortgage brokers in my area! Thank you for your help again!

Yes makes sense @Edward Barnes, thanks again for your help!

Hi @Joe Everett, what do you mean by getting the loan from "us"? Could you elaborate on that?

Awesome @Edward Barnes Thank you for your insight and tips! I really appreciate them! I will take them into account and will start looking more into it.

One question, if I go for the 203k plan, I feel like that cannot be placed under an LLC but rather under my name correct? Or would it be possible to do it?

Hello everyone,

I just joined BP over a week ago, I really find it very very useful, there are tons of information here for everyone in the business of real estate. I have been considering becoming a real estate investor for a while now. I recently graduated from college and I have a job in my field as a software dev.

I have joined my local RE investors association. I have been meeting new people there little by little. I do tend to be a quiet person so it get a little challenging to meet new people. Though I know I have to change that to succeed in real estate.

I have been reading a lot about RE and the different methods to get involved in it. I have decided that what I want to do is buy and hold to generate passive cash flow to eventually in about 5 years become financially free to be able to become a full-time investor in real estate investing.

That being said, I found out about a FHA 203k loan that seem to be doable to start with given that I am not very experienced in RE and unfortunately I do not have the money to start investing yet. I am starting to read about how to buy houses with low or no money down. But I am still not decided where to begin and if it is a good idea to start with the 203k loan plan.

My plan was to get a multi-plex property where I could live in and rent the rest, which would allow me to save money to start investing elsewhere and gain knowledge about managing properties and potentially obtaining cash flow.

My question is, would it be a good idea to start the business with that plan 203k?

Any recommendations on how to start if it is not a very good idea to start with the 203k plan?

On the other hand, if it is a good idea, any suggestions or things I should be aware of?

Thank you so much for taking the time to read my post!

Thank you @Jonathan Makovsky!

Thank you everyone! I will take advantage of everything I can from BiggerPockets!

I will definitely look into Brandon's book!

Hello all,

My name is Simon Aristizabal. I am originally from Colombia, but I live in Stamford CT. I am just starting to learn about real estate investing, I always had it in mind but now that I have graduated I actually have the time to look more into it and see how I can become an investor. 

Currently I work as a Software Developer, which I love to do and have always enjoyed doing, but during my years in college, I realized that working a full-time job will not get me where I wanted to go. I looked at many other options but as a start I felt like real estate investing was the way to go to build my knowledge of the world.

Through real estate I want to be able to become financially free to be able to pursue other long term goals and riches I have planned for. These include opening businesses and charities around the globe!

As I mentioned I am very new to Real Estate, I have not really looked into any deals yet because I have the problem where I currently do not have the money to invest in Real Estate. That is the main reason I have not started to look for properties yet. Plus adding that I tend to be a shy person when approaching new people.

I joined BiggerPockets because I heard about it at a course about real estate investing. I am really interested in meeting new people from my area as well as people not in my area!

I really want to get out of my shell and get to learn a lot from others as well as help others!

Thank you for taking the time to read this post!