Newbie from McKinney, Texas

Newbie from McKinney, Texas

Allen, TX · Member since 2013 · 23 posts · 33 votes

Hello everyone. I've posted on here before, but I never officially introduced myself, so here it goes.

I'm originally from Michigan/Ohio but I've been in the Dallas/Fort Worth area since 2003. When I was 25 I lived in Buffalo, NY (Grand Island) and I bought my first home. It was a small 1000 sq ft house on 2 acres. The Niagra River was right across the street in my front yard. So was Canada. It was awesome! It also had a small two bedroom house next door on the same lot. I was going to be a landlord. I had about $200 in the bank and living paycheck to paycheck. If I didn't find a tenant, I wouldn't be able to make my mortgage payments. How I got a loan for this house is beyond me. They gave it to me though. I screened my tenents, not by credit check, but by being a jerk to the ones I didn't want to live next to. They never came back. lol Somehow it worked. I found awesome tenants and had a pretty great experience as a landlord. I enjoyed fixing the toilets, remodeling the kitchen, etc. When I sold the property, It sold on the first day I listed it and I got my full asking price. I know some of you are shaking your head right now. I avoided finacial ruin by dumb luck.

Fast forward to 2013 and I've been wanting to be a fix and flip investor all of my life. Even before the reality shows. It just always seemed out of reach. Now I'm starting to take action. Call it mid-life crisis, whatever, the smell of saw dust and paint really gets me motivated. I've decided to start off wholesaling. (I can hear the collective groans and "here comes another one") Yes, yes I know. I'm going slow, though. I want to learn this business and this seems like a great place to start, seeing as though I'll probably be dealing with wholesalers later on. My goal is to become very respected in this area. I have zero debt and a great credit score. I'm not in finacial trouble so I feel I don't need to rush into a bad deal or try to get $20,000 out of an ivestor and ruin my reputation. I will make some mistakes. I've actually have made a couple of huge, non financial ones, but I'll never tell.

My first yellow letter campaign in full swing. Yes it's an absentee list and yes I know everyone is hitting that list. Trust me, the latino lady that yelled at me last night in spanish while her young daughter sheepishly told me to stop sending letters, reminded me. But it's great practice and I'm learning how to stay calm and sort things out in my head. I'm actually at the point where I'm guessing most people quit. It's very frusterating being a newbie. We have them come into my workplace everyday. They act like they know things that they don't. They try to fake it 'til they make it and it's a little annoying. This feels like going to the gym where the "beautiful people" work out and showing up in a speedo with my belly hanging out. But I'll get there.

In closing I will say this. While I sit at work in write this, my 7 year old son is on his way to go camping for the weekend with the family. I can't go. I have to work. So if you think I'm going to be another fly by night investor, you're wrong. I took off work the other day to go buy supplies at Staples. I even swung by Starbucks to see how you guys were living. It felt good...

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  • Investor · Northeast, OH · Member since 2012 · 239 posts · 106 votes
    13y

    Rob Padilla

    Welcome to BP! I really enjoyed your post. If it means anything, I'm pulling for you. I don't invest in your area, but I can lend moral support.

    Good luck with the first step.

    Sam

  • Rental Property Investor · DFW, TX · Member since 2013 · 953 posts · 910 votes
    13y

    Good luck Rob Padilla. I think everyone on here has felt the same frustration you have. I know I have/am. Your story was great and if nothing else when you get down on yourself, look back at that success and realize there is nothing stopping you from doing it again.

    This is a great area to be investing in or simply living in for that matter. Flipping and wholesaling isn't my thing but I have done some renovations so if you have any questions feel free to shoot me a message.

  • Allen, TX · Member since 2013 · 23 posts · 33 votes
    13y

    Sam W. I grew up in NE Ohio. Cortland to be exact. Thanks for the support!

    Peter Moser Thanks! I'm sure I'll be asking tons of questions in the following years.

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    13y

    Hey Rob Padilla thanks for introducing yourself! I'm sure you've seen it, but if not:

    1.) Check out our "Start Here" page
    2.) Check out "The Ultimate Beginner's Guide to Real Estate Investing."

    Also, be sure to set up some Keyword Alerts for some of the topics you are knowledgeable about, or other topics that interest you (like Flip, Texas, Rehab, etc ) so you'll be notified that those words were mentioned in the forums and can jump into those conversations! It's also an awesome way to meet new people from your area when they introduce themselves to this forum!

  • Allen, TX · Member since 2013 · 23 posts · 33 votes
    13y

    Thanks Brandon. Yes I use the keywords. Whoever thought that up is brilliant! It's my primary way of learning. Awesome podcasts, too. Glenn Schworm and Sharon Vornholt are my hero's! lol I think Sharon is everybody's hero, though.

  • Goshen, KY · Member since 2009 · 835 posts · 683 votes
    13y

    Rob - You are so sweet! But like everyone else, I'm just here to share what I know and to learn.

    Sharon

  • David NilesBusiness Member
    Property Manager · DeLand FL · Member since 2012 · 860 posts · 243 votes
    13y

    Hey Rob, welcome to BP.

    I was just out on Grand Island today fixing a rental. Boats are starting to pick up on the river, summer has arrived in Buffalo. :)

  • Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
    13y

    Welcome to BP Rob!

    Keep that desire for the life you want strong and be persistent! Hope to see you around the forums more often.

  • Bakersfield, CA · Member since 2013 · 184 posts · 19 votes
    13y

    Hey Rob Padilla,

    At BP you will find such a great amount of networking and insightful information. Best wishes to you!!!

  • Houston, TX · Member since 2013 · 34 posts · 4 votes
    13y

    Welcome Rob! Wish great success. Keep learning and taking action.

  • Real Estate Investor · Dallas, TX · Member since 2010 · 449 posts · 173 votes
    13y

    Rob Padilla - Welcome to BP! We are almost neighbors - I'm in Allen.

  • Allen, TX · Member since 2013 · 23 posts · 33 votes
    13y

    Thanks everybody!
    David Niles The property I an referring to is right next to that little cemetery on West River between Staley and Whitehaven. What a small world!
    Harry M. You are close. I would love to get together sometime. My treat, of course!

  • David NilesBusiness Member
    Property Manager · DeLand FL · Member since 2012 · 860 posts · 243 votes
    13y

    Rob Padilla Yes sir, know the area well. You should take a trip back sometime, the island has really started to develop and build up more. Whenever I think Whitehaven rd, I think Fantasy Island, lol.

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