All Forum Posts by: Thomas Garcia

Thank you Dave. That is great advice. I am very tempted to try the real estate agent option but I think I could make a lot of progress utilizing the advice from Brandon Turner's book on investing with no and low money down. I just need to put one foot in front of the other and start making some progress. Being an agent would help me build connections and find some great deals though. 

I was finally able to reduce my work week to 40 hours Tuesday-Friday. I'm looking to find a side hustle on Mondays to build my real estate knowledge and experience. I am thinking of working part-time as a realtor or for a local property management company. What are some other ways to get my foot in the door for more real estate opportunities while working part-time? Money is not really an issue since I already make $100k. I am open to flips, but I am still working on building enough capital for funding. 

I wonder if the cash for keys could have helped you move this process along quicker. I've never tried it, but I'd like to know how it has worked for people.

Great post Anton. I am struggling to come up with a down payment for my next property. I have increased my savings rate though and should be able to close on a deal by the end of the year. I am also prepping my fiance for her first purchase. Looking into commercial property financing will be essential after we hit 20 units or so. Thanks for the article!

Hello @Mike D'Arrigo . I am limiting my search to cities I wouldn't mind retiring in because I would like to retire from my Day job in 10 years to help manage my team and potentially open a property management company. We'll see. KC seems to have a lot of potential. Thank you!

Hello @Lee Ripma . I have considered Albuquerque but I'm not a fan of the general population and the amount of crime. I just feel that since barely any of the homes even meet the 1% rule, I'd be struggling to manage poor tenants. Thank you! I might look into Rio Rancho. 

This is great advice @Amy Kendall ! Thank you. I will do some research on property managers and do the vetting in person when I visit both of these cities. Property managers will be in essential function for my success. 

Hello Clay. I am looking to start investing in Louisville. I currently live in Santa Fe, NM but options are limited here. I have 3 classes left in my project management degree and work as a technical project manager for a national laboratory. Please let me know if you have any links to a group that I can connect with. Thank you!

Thank you Justin. This is great information. I do need to check out the neighborhoods to get a better understanding of where I need to invest. I would like to start with "b" class neighborhoods to get the cash-flow rolling. Let me know if you ever get started in KC. 

I agree with Steven. I think it would be wise to use the funds as a downpayment on REIs. It would be best to rollover funds into a self-directed IRA so you have better control over your investments. There are ways to fund real estate deals through self-directed IRAs as well but they work a bit different. There are special rules though. You can search the BP site for more info. Here are a few links though.

https://www.biggerpockets.com/rei/self-directed-ir...

https://www.biggerpockets.com/renewsblog/pros-cons...

https://www.biggerpockets.com/renewsblog/2015/07/3...

I would recommend only pulling what you need to fund a well-analyzed deal. The less you pull, the fewer taxes you will pay in any given year. 

Best of luck!

-Tom