@Kirstin Lawrence Of course! Please send me a message. I promise I’ll get to it, it’s just taking me a bit of time.
@Brennet Vargas Haha yes, my parents are from Cuba. I’m from Miami.
@Kimberly Echols Congratulations I'm jumping into your first property!! I'm sure it's super nerve wracking not having a tenant yet. I know I'm late on replying and hope you found someone by now. If not, I would consider lowering the price. That's usually what will do it. I am not sure if you're using a PM to list it but I'd ask them for feedback right away to see what's taking so long. If they aren't responsive then find someone else to list it for you and do your own research to see if other rentals in the area have something yours doesn't or maybe yours is priced too high. And if you're listing it yourself then I'd hire someone right away so that it can go on the MLS. Of course I'm speaking without knowing anything about your property. Feel free to PM me and I'll help as best I can.
@Ty West I loved your comment! It means the world to me that my simple post encourages you like that. Do NOT give up!! I am in Brooklyn and hosting a get together at our apt in April if you’d like to come. I know you’re a bit father out but doesn’t hurt to ask. Send me a message :)
@Aaron Bryson Great question. I was a referral agent on those deals so I made 25% of the 3% commission my agent made. I am way more hands on than the typical referral agent though. My goal is to help other investors and build relationships. There are many ways to do REI here!
@Kyle McKiernan Agreed on finding another lender. Mine let's me do 15% down with PMI or 20% down without. We did need reserves but they can count your IRA for that also and we have a pretty good sized one. Call around. Best of luck!
@Laura McKenna Thank you! I am not because I live in NY now but I’m moving to Jax in May so I’ll join! I saved your name so we can connect once I’m down there :)
Congrats on the success and the little one!!
Great post - proof of the power in partnerships. Partnerships may be intimidating to the new investors (like myself), but they offer so much opportunity. This definitely gives me a gently push towards networking and building strong partnerships - which I didn't see my self going there.
Great work, Elenis!
Great story as it makes me feel like I am on the right track. I just recently purchased my first out of state rental property which just happened to be Florida and am currently finalizing a deal with a private investor in order to start scaling up. Hopefully I will be in your position within the next few years! Congratulations!
Congrats on that huge milestone Elenis! I'm in the process of partnering with someone with the goal of purchasing rental properties also. Did you come up with your partnership agreement from scratch or did you start with a template?
Originally posted by @Elenis Camargo :
@Michael C. Thanks for your questions. Where to invest: that’s the golden question. I invest in Jacksonville but heard of other great markets like OKC, Huntsville AL, places in Ohio and Indiana, etc.
For managing out of state you can read here :) https://www.biggerpockets.com/...
Where do you invest in Ohio?
@Account Closed If it’s in A-B class, it’ll be around $165-175k minimum.
If you pursue C class (Del/MWC or south OKC), you’d just have to find someone with a lot who would build for you, but in those areas, they could get one for $135k-$150k.
@Elenis Camargo Congratulations. You are killing it.
So tell me more on how you were able to grow this fast because I really when I start, I want to grow this fast if not faster. I will be putting about 10K as a downpayment and want to grow a real estate empire.
Thank you for sharing your story, it really helps others to learn and see how possible it is to become an investor. It is the only sure way to secure a future for retirement because it isn't possible to "save" your way there anymore. My husband and I purchased 3 investment properties 16 years ago with the equity in our home and if not for that, we would be in a very different place today. We did it with a real estate networking group which helped us pick the properties and set up PM that we would have NEVER done alone. Helping others is truly the way to success! Thank you for helping others and sharing your story!
This is a great post for some of us newbies on here. Thanks for the share!
@Lauren Banks Thanks so much for your comment! If you haven't done so already, I do suggest you save as much as possible and learn as much as possible, then simply dive in and get that first property. I did write a few other blogs that can help you in your journey: https://www.biggerpockets.com/member-blogs/11360-long-distance-real-estate-investing-blog
By the way I think it's amazing that you're 20 and wanting to investing in real estate!! So smart :)
@Account Closed True! In our case we don't have 401 K accounts or existing properties that are paid off. We also don't feel comfortable using our IRA accounts since we want to have something safe for the future. I did not know about the life insurance one so I'll look into this. Thanks!
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