All Forum Posts by: Virgilio Garcia

@Reece O.

Thank you for your input. 

i certainly will. i will network, join webinars and meetups in my area. i will make sure my credit is up to date by not buying doo dads and liabilities and of course continue to look into creatively getting where i need to be. would you recommend any literature to read?

Thank you. 

@Michael S.

Thank you for your input.

i am excited about BP and learn a little more every time i get the chance to get on. 

Hey BP. i was very excited to get a pre-approval letter so i could know my ball park figure so i could begin to find deals and analyze them, and it appears that my income is too low and i do not have "too much" saved up, (currently about 7k). 

i work full time and receive an annual salary and credit score is 750+

I am currently saving up and networking with other rei's so i could partner up for a flip and grow my capital. I ultimately will purchase a 2,3 or preferably a 4 unit property that will cash flow and pay off the loan, while building equity, then refinance to purchase smaller single family home's to create a portfolio of positive cash flow investments and give me the option and freedom of "Having" to work for a paycheck.

I know my situation is not the best, but it is not the worst. and in some other markets, the dollar goes a longer way, but i want to stay local for now. 

We all know that NYC is a tough market but i am not letting that get in my way. I am not writing this in pity or saying i am giving up, i am not ever giving up. I am writing this to set my self accountable. I have set my mind on it and wake up everyday thinking how i can creatively come up with more capital to see my goals come to reality. 

I am still going to learn, i am still going to analyze deals, i am still going to network, i am still going to be a real estate investor no matter what or how "they" see my income or saved up capital.

Just wanted to get some ideas or comments out there from the pro's on BP of what i could be doing. All replies and ideas are welcome. I enjoy starting off stories, success or hardship stories or words on encouragement. 

I understand its all part of the business and i am ready for it. 

I hope this post does not hinder my appearance on BP but i am here to ROCK, and believe in integrity and transparency. 

Thank you BP. see you around.

@Skyler White

Hello and welcome to BP. 

I am new as well and i have spent a lot of time reading creating and commenting on the forums. its like a mentor in it self, its just great.

I see you got the UBG in pdf. That will help you narrow down what it is you want to focus on and drill into it. 

I listen to the podcast as well and it is just filled with  a ton of information.

also was mentioned above, the keyword will help keep you in the loop. 

Have fun see you around the site. 

@Justin Williams

Thank you for your services to our country. 

Welcome to BP. i am fairly new as well but i am sure on my way to crossing the finish line on my goals. Real estate investing is so broad that it help a lot by narrowing down and drilling into what you want to focus on. I too recommend BP UBG, Ultimate beginners guide to real estate investing.

It has helped me so much. Its not a long read and covers a huge portion if not all of real estate investing. It helped me narrowing down what i want to do and help me set goals. 

The podcast is also very good learning material. 

I listen to them at least twice a day, TO and FROM work. i am currently on number 21.  

I have never been to Texas but something about Texas that calls my name. I may one day find you there in a seminar or meeting. 

Have fun, take care.

@Omar Sanchez

have you seen this post? maybe you can drop in a give an opinion. 

@Kurt Gardner

Thank you for you input. 

i will certainly explore many opportunities as i learn more and more. i am very fortunate to have a place like BP to get some of my questions and concerns addressed. 

Thank you. 

@James Wise

Thank you for your recommendation. 

@Account Closed

Thank you for your input. 

i will be looking into it. since this will be my primary residence and investment, i will be living in it, so i will have that aspect covered as far as FHA requirements. once a year goes by, i will/should have enough equity in it to refinance and look into more deals. if FHA goes well, i could consider doing the same thing. Moving into the second property that is financed via FHA while the first property is being rented out.

@Martha Chavarria

Hi, I too live in the Bronx and have come to a conclusion that a multifamily, FHA/203K is the way to go. i want in find a deal here in the bronx where i would live in as well. I am looking to get a pre-approval letter soon to see where i stand and what i can afford to leverage.

I am also in the middle of learning the numbers. I am learning the terms and foundations of REI. i would recommend this blog Introduction to Real Estate Investment Deal Analysis

BY J SCOTT ON JUNE 30, 2010EDITOR'S CHOICE, REAL ESTATE INVESTING BASICS