Updated about 4 years ago on . Most recent reply
Hello everyone from Texas
Hello everyone, I'm new to the real estate investing world, I've been doing armed security for the past 20 years, worked a lot of hours and just wasn't going anywhere, then i stubbled back onto Robert Kiyosaki YouTube channel, and membered learning about it some back in 2007, then started watch Ken McElroy learned as much as i could from him then i saw David as Ken's guest and that's what introduced me to BiggerPockets, and have been watching videos taking notes trying to learn as much as i can and trying to get started at the same time, and found some hard money lenders (because I knew I couldn't get a loan from a back with my credit score and just getting started) four of then said sure will give you the loan talk about being excited then they hit me with will give you 80% of the LTV and you have to put the 20% down, my mouth dropped and another guy said there's going to be a 15k PMI added onto it and after I explained I needed to figure out how to come up with the 20% plus the 15k he blocked me on Facebook, so i began asking friends and family for the loan but ended up at a dead end, so with one of the hard money lenders i spoke to and kept in contact with offered my a loan officer position and explained the pay and everything, and in my mind i was like oooo if i get 5 of these deals i could have 20k, which would be enough for a down payment for the LTV on a condo then do the BRRR strategy on it, so that's currently where im at now.