All Forum Posts by: Tommy Adeoye

So you know how kids, during Christmas have all these items they wish to have and then Santa impresses or disappoints them?

Grab a list of lenders on bigger pockets, pick up the phone and reach out them . Keep in mind they are as human as they come and can certainly relate. Given your current situation, you may get a few stipulations which include bigger down payment, co-signer etc. However, Your VA loan puts you in a strong position. You are only in a weak position if you do not make the move.

Reach out to your VA lender, tip : find out if your US credit card issuer offer lending services and check with them. I don't think your position is as bad as you think it is. Best of luck.

https://www.biggerpockets.com/forums/521-events-and-happenings

The link above gives you a vast number of events and happenings in the area - both virtual and in person .  if you there is none in your area and for some can not attend one online, search for a member in your area that has a presence on biggerpockets, there is always someone- one investor, agent etc who would buy into the idea. Partner with them and start a biggerpocket meetup group in the area and then when your number grows, find sponsors. . 

The idea of hiring your handy man friend is a frugal move. Saving money is a good thing .  The kick back with that idea,However is you may end up paying the pound than saving the pennies if any thing were to go wrong with your buddy, You handy man friend may not come after you but some radical lawyers will.  

I am thinking what will I do if I were in your shoes. I will for sure get expert advise from an attorney , though it may seem like I am betraying my handy man friend, it is however, much better to know what I would have to deal with if the worst happens and reevaluate the repercussions. If I can come up with some sort of agreeable terms with him based on what I know, we are good to go Otherwise the extra cost employing the services of a contractor wins the vote.

Collateral lending on stock or security program without having to liquidate your stock holdings.

You have taken the first step by signing up on bigger pockets . I recommend you go ahead and complete your profile like you would if you were on a dating website, that way you are able to connect with other investors in your area.  To be able to do so, go to the NETWORK tab  -> search members section, type your area, and you will say a vast number of potential mentors, prospective investors, future friends and/or partners. This in my opinion is the first way.

You will have to educate yourself with the books in the bookstore section. Imagine, you were in a random city in lets say Brazil and wanted to meet a friend but you really can't due to language barrier. This is somewhat similar to RE . Lets assume you will, in the future which i would expect that you would, attend networking events, the superstars and superstars-to be will pay attention to you if you understood very well the language of Real Estate. More  so, Getting OPM (Other people's money) could solve your financial roadblocks when you get to that side of the bridge. These few below mentioned tips are what you'll see and hear very often :

- Listen to podcasts: You don't have to listen to the full podcast, a few short minutes videos on YT is sufficient enough. I assure you willl learn a lot from other people's experience

- Ask yourself the golden question "Why do I want to invest in Real Estate"?

- Have a plan : choose your niche (Storage Units, SFH, MFH , Commercial), focus on just one for now until you are comfortable to be able to switch to another, pick your strategy( Flip, Buy and hold,BRRRR, Build).

- Deals: Figure out a way to find deals either through the MLS, foreclosure and auctions, Bigger pocket, Drive for dollars etc

- Analyze those deals daily using the bigger pockets deal calculator.

- Follow the process of landing your first deal - Analyze -> Pursue -> succeed -> repeat..

- Once you find a deal with a number that works , Find Investors, connect with your local banks , partner with someone . ( I strongly recommend the book - Investing in Real Estate with low or no money down by BT)

- Be consistent

- Read Blogs, Read books, read posts

- Attend Network events

- Connect with one member a day with a purpose(Please: do not spam members , you may loose your messaging privilege).

I doubt you will fail if you ritually follow 70% of the recommendations. Best of luck to you.

You are on the right track.

You are welcome. I have not been on here for long and I can't go a day without bigger pockets. Here under are a few pointers you may find resourceful :

- Search for questions you may have , there is probably a post or blog that has your answers . if what you find is not helpful - do not hesitate to post your question or best still go to the member section and connect with a member - they are always happy to help. keep in mind they have been in your shoes before.

- Listen to podcasts, 

- Regularly read posts, blogs and books (see bookstore section), 

- Connect/Network with members

- Sign up for Pro- if your budget allows.

- Reply posts - You don't have to know everything, keep in mind the little you learn on here puts you a little ahead so answer questions,

- Connect with REAs to set you up with daily automatic listings and analyze them on here everyday. Analyze deals, Analyze deals , Analyze more deals. Get comfortable analyzing deals.

- Don't beat yourself - this is a journey with a path that is forgiving.

- Remember your first deal is a learning experience and will give you all the necessary boost and education required to jump on the next one, 

- Get a mentor . 

- Try to get on bigger pockets as often as you can to immerse yourself . 

- Attend networking events.

When you get to reach a step higher, throw down the ladder for another to climb.  Best of luck.

There a multiple ways to finance investment property you will be brrring.. 

https://www.biggerpockets.com/store/no-money-down-revised-ultimate

This book does a better job at explaining various ways you may be able to acquire not just a property you would be brrring but any other property out there.

Bring in a partner, traditional financing, private money lending, FHA , VA loans to mention a few. Search for financing on here , You'll find blogs and post that will certainly be helpful.

Have you ever considered the idea of courting a partner that may offer private lending in exchange for a certain portion of equity ?  Keep your capital for unforeseen contingencies and get the boost to go on to the next best deal. 

Carter,

You can't go wrong with any of the books on the link below

https://www.biggerpockets.com/store

- Investing in Real Estate with No (and Low) Money Down By: Brandon Turner

- Buy, Rehab, Rent, Refinance, Repeat By: David Greene

- The Book On Rental Property Investing By: Brandon Turner

You may also select a book from the store that fits your niche and strategy .

Kirsten,

Another option would be to go on craigslist/FB marketplace , enter the search criteria that fits the room you are renting out . This way your numbers are feasible.