Melinda Allen

50 influence

Charlottesville, Virginia

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Profiles:

After studying real estate investing off and on for several years, I am ready to do it! I feel comfortable that my knowledge is sufficient to get started. True, I don't know very much, but experience is a great teacher. I have owned one house, I purchased it with a conventional loan in 2001 before I knew anything about investing, when I was ready to move I was unable to sell it as fast as I wanted to. I lease optioned it out and sold it a year later. I only made 3500.00 on it, but the knowledge was worth far more.

I would like to get started as a wholesaler and get into some rehabs. I am looking for a partner to help get me started, something that will obviously benefit both of us. I have noticed a lot of potential great deals in my area, and I would like to help someone earn some income.

Experience

I bought a house in AR for 56500 in July of 2001, when I moved to VA I put it on the market, and stuck a tenant in it with a lease option. I sold it for 65000 in 2008 to that tenant.

Real Estate Goals

6 months: Complete my first rehab or whole sale deal.
1 year: complete 3 rehab or wholesale deals.
2 year: fix/flip or wholesale 6 houses, 5 years: own at least 3 rentals to start providing 'passive' income, quit my job and home school my kids.
Ultimate goal: Buy and hold to create a portfolio of investment properties, single-family or multi-unit.

Currently Seeking

I am currently seeking contact with other investors, contractors, and other influential people. Because I am starting out, it wouild be nice to partner with another investor, PML or HML.