Seeking a personal Mentor

[Carlos Rodrigues]

Good evening BP my name is Carlos Rodrigues (24) I'm a new Real Estate Agent in North/ Central Jersey. I've been studying Real Estate for a little over a year now, mainly studding Union County NJ. I was introduced into Real Estate after a good friend of mine told me to real the book Poor Dad Rich Dad, and it changed my life. Shortly after I started to do research, study the market and talk to Real Estate Agents, and I quickly found out that most of them don't know anything about real estate investing. So thats when I chose to go and get my Real Estate license and I was able to accomplish that about 4 months ago. In-between all that I had found and joined BiggerPockets and have been listening to most of the Podcasts and doing nothing but gaining knowledge.

After so much knowledge gained I'm now ready to invest, but sometimes with a little bit to much knowledge I get afraid of making any moves. Well not that I'm afraid, but I just don't know what to do first. I'm interest in purchasing a multi in Union County but I was only pre-approved for $235,000 and in that range its a hard find. I've found some nice deals, and I've offered on 3 properties already but I always get out bided with cash buyers. So now I'm realizing I need capital, something I don't have much of. I've then read about hard money loans, which seems like a good idea but I still have many questions about them.. I then been considering a single family for about $70k buy it and flip it even if I make $20-30k on it, but that too might require a hard money loan. I honestly feel like a multi would be a better start so I can have cash flow coming in so I can then purchase other deals in the future, vs having a single and getting no cash flow for months until I either sell for profit or rent out after fixing.

To recap, I have a good mindset on what I want to do, but at times I feel lost. I just want my first deal/ property already. I'm a full time electrician but after my first job I spend another 6-10 hours studying Real Estate daily! I'm seriously 100% committed to this!! But I would like to find a mentor, one who I can email, call or text on a daily. Someone who's experienced and one who could guide me when I have some questions. Money isn't what I'm asking for, just some reassurance when I need it. I'd defiantly be doing my own research before asking a question, I don't like to bother anyone. But please if anyone here on BP is an experienced investor that is willing to help me, guide me and keep me under there wing please via email, call or via text me. My contact information is in my signature below. 

Thank you kindly in advance.

[Abel Curiel]

Good evening Carlos,

I love the focus you have! It seems like for every obstacle you encounter, you just keep pushing forward to find out a way to make things happen. I'm hearing a few things on here... you want to invest in MFRs, you want to purchase with cash so that you're able to compete with other investors in your market, you're skeptical about taking out a hard money loan, and you want to get started ASAP!

It sounds to me like the best way to go about satisfying most or all of your goals would be to locate a deal with plenty of upside. What you can do next is offer seller-financing to the property owner. This will allow you to take control of the deal with little down while avoiding the route of conventional or hard money financing. My business partner @Tommy Mejia focuses a ton of his efforts on creative financing for our deals. Feel free to reach out with questions and also check out the great info offered on BP regarding creative financing strategies.

This isn't your only option. You should also begin to network in person and on BP with people in your market. Form some relationships and the good relationships can soon become partnerships. Anyone with similar goals, capital, and little time to hunt for deals would be more than willing to share a piece of the pie with you OR at the very least pay you a finder's fee for your work.

Best of luck to you!

-Abel