Have no idea for direction.

Dallas, Texas
Starting Out
2yFollow

Have no idea for direction.

Shi Esguerra
New to Real Estate · TX · Member since 2024 · 14 posts · 11 votes

Hi gang! I’m Shi, newly introduced to real estate investing, and not sure where to start. I’m a home owner that would like to start building a portfolio but just lack the knowledge and direction. 
Are there investment friendly mentors that are willing to bring the water hose spray down a tad for me so I can learn next steps? At this point when I began seeking property for buy and hold, I learned that I have the credit score but not the 20% down. I'm just learning about HELOC but have been told to try and fund w OPM. The idea of going the route of small multifamily sounds like it may be a better route than a single buy and hold for my family. Hang up is the inability to house hack (I'm living in our primary w our family of 6), our VA is tied up (so no lower down expectations).
Kind of feels like I have my row boat and paddle on the trail but zero direction to the water. Any wisdom is greatly appreciated, thanks! 

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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
2y

The advice you got was horrible about OPM. No one who owns a primary and is looking for a first investment should think about using other people's money. This is why talking to the wrong people can set you back light years in real estate investing.

You are rushing the process from your post. To get an investment property and stay in yours, you will need 20 percent down minimum. There is not a smart way around that so your job now is to meet other investors by going to meetups, save, and plan. You take what you learn on podcasts and books and workshop that with people in real life.

Too many investors are doing due diligence on how to invest only online. You need people in real life who have done it. You have maxed out your VA benefit amount on the primary?

[email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
Zen and the Art of Real Estate Investing59 Reviews
WebsiteView Page
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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Shi Esguerra

    Investing in Real estate means always learning, changing, and sticking with it. It's key to keep learning, look into different ways to pay for places, and think about ways to share housing costs. Choose your plan based on your money goals, how much risk you can handle, looking into the market, and how long you plan to invest. Do deep research to find areas good for investing, with lots of people renting, new jobs, more people moving in, steady money flow, and chances for the place's value to go up.

    Talk and connect with pros, other investors, people who lend money, agents, and builders to get great tips and chances to work together. Team up with people who know a lot or have the same goals to help each other out. Check out places very well before you buy, looking at costs, checking the place top to bottom, looking up who owned it before, comparing prices in the area, checking out tenants, and looking at the legal stuff. Always get advice from people who've been there, stay on track, and be ready to try new ways and chances as you move forward with investing in Real estate.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    1Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    2y

    The advice you got was horrible about OPM. No one who owns a primary and is looking for a first investment should think about using other people's money. This is why talking to the wrong people can set you back light years in real estate investing.

    You are rushing the process from your post. To get an investment property and stay in yours, you will need 20 percent down minimum. There is not a smart way around that so your job now is to meet other investors by going to meetups, save, and plan. You take what you learn on podcasts and books and workshop that with people in real life.

    Too many investors are doing due diligence on how to invest only online. You need people in real life who have done it. You have maxed out your VA benefit amount on the primary?

    [email protected]Podcast Guest on Show BiggerPockets Daily 667: 5 Amazing Benefits Multifamily Investments Offer (That Single Family Homes Don’t) by Gino Barbaro
    Zen and the Art of Real Estate Investing59 Reviews
    WebsiteView Page
    2Reply
  • Shi Esguerra
    OP
    New to Real Estate · TX · Member since 2024 · 14 posts · 11 votes
    2y

    @Jonathan Greene Good Morning! Thank you for your advice and insight. The VA is wrapped up in our primary home. I'm still looking for meetups in the area so that I can learn more before making a move in searching for investments. Thank you for taking the time!

    1Reply
  • Shi Esguerra
    OP
    New to Real Estate · TX · Member since 2024 · 14 posts · 11 votes
    2y

    @Wale Lawal thanks for the input!! 

    1Reply
  • Preston DeanBusiness Member
    Realtor · Fort Worth, TX · Member since 2021 · 779 posts · 368 votes
    2y

    @Shi Esguerra

    Just sent you a message VIA the connection request 

    [email protected]817-480-9452
    United Real Estate DFW Properties 565 Reviews
    WebsiteView Page
    0Reply
  • Maz Pardhan
    Member since 2021 · 47 posts · 27 votes
    2y

    Hi @Shi Esguerra congratulations on starting your real estate journey. You mentioned you don't have the 20% down, that may be true for Texas, but there are plenty of other markets that are far less pricey and they are in fact better investments. You can still tap into equity of your principle residence needed through a second mortgage or in some cases financing strictly based on the investment property itself. You can buy single family homes in the Midwest for less than a $100k and have them producing excellent rents. Don't be afraid to invest out of state. Look for good business partners who can guide you to these deals and don't try to take the burden on by yourself. If you need references to lenders, or business partners to help, feel free to reach out.

    2Reply
  • Shi Esguerra
    OP
    New to Real Estate · TX · Member since 2024 · 14 posts · 11 votes
    2y

    Thank you, @Maz Pardhan so much for this! I’m still learning and will definitely reach out to you when i get to the point of references.

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y
    Quote from @Shi Esguerra:

    @Wale Lawal thanks for the input!! 


     My pleasure!

    Keep learning and growing...

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    0Reply
  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y

    I would start with a SFH or a Duplex. I think these are the best deals to start out with. You can enter for a lower price, learn the management process, and just get a feel for real estate investing without taking on a huge project. I also wouldn't use OPM for funding until you gain more experience and can show people that you know what you're doing. If you don't have the required 20% in Texas, you could try lower cost markets in the mid-west like @Maz Pardhan mentioned.

    [email protected]614-662-1652
    Reafco - Samuel Diouf528 Reviews
    WebsiteView Page
    2Reply
  • Twannisha Jackson
    Rental Property Investor · Cleves · Member since 2023 · 132 posts · 82 votes
    2y

    Hi, I would network with more experience real estate investors who buys & manages the properties. do ur due diligence before you hand over hand cash. I would house hack. I would buy bank/foreclosed/tax liens. maybe put down 5-20% down payment on a 4 unit. 

    1Reply
  • Senate Eskridge
    Investor · Twin Falls, ID · Member since 2015 · 200 posts · 117 votes
    2y

    FIrst think about what you want your business to look like.  Specifically, do you want to actively manage, do you want to "swing the hammer" etc..  Get clear on the work you want to do.  

    Next narrow down the type of investments you want to do, Fix n Flip, Single Family buy and hold, AirBnB, small multifamily, 10-50 unit multi family, larger multifamily etc..  this will really help with choosing the mentor.  

    I would be happy to visit with you more and help you narrow down some of these items.  

    1Reply
  • Jake Forehand
    Realtor · Columbus OH & Cleveland, OH · Member since 2023 · 45 posts · 42 votes
    2y

    Some things that helped me when I started were picking a market, learning about the different neighborhoods in that market, and studying sales comparables for 1-4 units in those neighborhoods on Zillow.


    Establish a criteria of what a good deal looks like, and what a bad deal is. Ask questions and try to engage in as many conversations as possible to gather different opinions before making your own decisions. Good luck!

    1Reply
  • Shi Esguerra
    OP
    New to Real Estate · TX · Member since 2024 · 14 posts · 11 votes
    2y
    Quote from @Senate Eskridge:

    FIrst think about what you want your business to look like.  Specifically, do you want to actively manage, do you want to "swing the hammer" etc..  Get clear on the work you want to do.  

    Next narrow down the type of investments you want to do, Fix n Flip, Single Family buy and hold, AirBnB, small multifamily, 10-50 unit multi family, larger multifamily etc..  this will really help with choosing the mentor.  

    I would be happy to visit with you more and help you narrow down some of these items.  


     Senate, I'd like to chat in hopes you would hear what I'm thinking and help me narrow my path so it's more focused. 

    0Reply
  • Senate Eskridge
    Investor · Twin Falls, ID · Member since 2015 · 200 posts · 117 votes
    2y
    Quote from @Shi Esguerra:
    Quote from @Senate Eskridge:

    FIrst think about what you want your business to look like.  Specifically, do you want to actively manage, do you want to "swing the hammer" etc..  Get clear on the work you want to do.  

    Next narrow down the type of investments you want to do, Fix n Flip, Single Family buy and hold, AirBnB, small multifamily, 10-50 unit multi family, larger multifamily etc..  this will really help with choosing the mentor.  

    I would be happy to visit with you more and help you narrow down some of these items.  


     Senate, I'd like to chat in hopes you would hear what I'm thinking and help me narrow my path so it's more focused. 


     Lets set up a meeting some time.  I will send you a private message with my calendar link

    0Reply
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