All Forum Posts by: Tye Brooks

Does anyone have any suggestions for a good mortgage broker in/around the Atlanta area? I am looking into purchasing my primary residence and have a few questions I'm hoping to get answered. I tried searching on Google, but I'd rather get a good recommendation from someone rather than the internet. 

Thanks BP friends!

@Michaela G. Thank you so much for your input. I completely understand what you're saying that it all has it's way of working out and being even in the end. That's definitely a more positive way of looking at it!

@Jay Hinrichs Of course your thoughts are welcomed as well! Maybe you are right that I shouldn't even acknowledge it. That way it won't have as much of an impact on the decisions I make. 

Thank you so much everyone for sharing your thoughts and experiences. It has really helped!

@Sheree H. Thank you so much for your feedback! I appreciate it. 

I definitely have been a witness to women being more discriminatory and "catty" against each other than any man will, so I definitely agree with you on that.  

It's not that I want to be one of the guys. I just don't want to be at a disadvantage before I even make a move purely based on my gender. But I do see what you're saying. If you have the "boss" mentality, you will be more respected than someone who is timid. Being timid or apprehensive has never been an issue for me, I've always been the "no nonsense" type when it comes to business matters. 

It's good to get some feedback from someone who understands. Thank you so much!

Hi BP!

I've been a member of the site a little while now, and I've been networking, reading forums, listening to podcasts, reading books and sitting on webinars in an effort to learn as much as I can before I pull the trigger. 

I have learned so much already, but I am interested in hearing thoughts/advice from a female point of view (sorry guys, lol....I am not being discriminatory, I just know that females in the investment world are regarded differently than men, unfortunate as that is). I am just starting out myself but have already noticed subtle differences in treatment being that I'm female. 

Are there any female investors (particularly in the Atlanta area...but I'd be happy to get insight from anyone, no matter your gender or geographical location) that can shed some light on how you are treated, whether it be fair or unfair as well as any tips you have on getting other investors and members of the real estate community to take you as seriously as one of the guys?

Thanks so much @Melissa Gittens! I will definitely keep you all posted!

No problem @David Longhini. Was it the webinar Brandon did? I was on there too! Partnering is definitely a good way to learn the ropes! Good luck!

@David Longhini

I think everyone has to do what's best for them. Flipping does require more knowledge and time, so if it's not something you are 100% sold on, I wouldn't do it...but it definitely is a great way to build capital more quickly. So far what I've done is read a bunch of the forums, listen to the podcasts, read books, attend webcasts and network with anyone I can.  I am speaking with local investors and trying to partner on my first few deals.

The Ultimate Beginner's Guide here on BP is good, as well as the Book on Flipping Houses, and Brandon's book on Investing with Low or No Money Down. I've read them all and got some pretty valuable insight. 

If I can help in any way let me know. I'd be happy to share what I've learned or tell you where to go to learn it, lol!

@Melissa Gittens I definitely plan to network as much as I can at the REIA meeting coming up.

@Lauren Baker I'm almost to that podcast now. I started at #1 and just worked my way up. I should be at 142 by the weekend!

I agree with @Phil Bottfeld as well. Here's what I think....

Research heavily and read books, listen to podcasts and network for the next 6 months, while you save your max $2200. That will give you an extra $13,200 to add to your $12k. Then you have over $25k to work with. That should get the attention of a local investor(s) to partner with on some flips. Once you do enough flips you will generate enough capital to buy and hold multiple properties a lot faster than you'd be able to if you tie it up into one deal. 

My personal goal is 30 flips in the next 3 years, and purchase 10 buy and holds in those same 3 years. Then continue that process until I have enough cash flow from the rentals to replace my salary. I'm praying it takes 6 years or less....then I can "retire" in my 30's (even though I'll still be actively investing....just can quit my 9-5).

Hi David! Welcome to BP and congrats on starting out! I am new myself so take my input with a grain of salt, lol. I think FHA with a multifamily is a great way to start. Your mortgage would be partially (if not all the way) paid for and that will allow you to free up your income from your job to work on other projects. I would, however, suggest that you save up more than the $12k you have if you choose to go with the more more expensive multifamily ($200k+). Since you will be a landlord you'd be responsible for anything that happens....it's always best to have a good bit of money in reserves for expenses. Although you'd be able to cover the mortgage with your salary, if a water heater or HVAC unit needs to be replaced two months in, you'd be screwed if you don't have the money to take care of it.

Hope this helps!

Good luck!