Hello All. I'm in Las Vegas and Ready to NETWORK to my NET WORTH

Las Vegas, NV · Member since 2022 · 17 posts · 9 votes

My name is Kevin " Inky Mann" Holmes.

I'm a music producer and host of Inky Mann Show (YouTube). My goal is to retire at 50 (I'm 49) and I believe Real Estate can help with that. My introduction into Real Estate was tax Liens and wholesaling. I'm doing research on both, BUT I'm ready to start failing!

This way I can get closer to my goals.

I hope to meet and network with some GREAT people in here.

Let's goooooooo

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Scott E.

Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes

Welcome to the forums Kevin. You've come to the right place to start learning the ropes!

Sorry to be the bearer of bad news, but retiring off tax liens, wholesaling, or any form of real estate investing in just 1 year is impossible (unless you're going into it with millions to invest).

Give yourself the next 6 months to learn. Spend a bunch of time here on the forums, listening to podcasts, reading books, all of that. Once you establish a foundation of education and you pick a niche, then it'll be time to start pursuing your first deal.

If you are driven, disciplined, and focused, you may be able to retire off real estate by the age of 60. But it's going to be a grind. This is not a get rich quick line of work.

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Kerry Noble JrPro Member
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
3y
welcome!
0 Reply
Melanie ThomasBusiness Member
Real Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 490 votes
3y
Welcome to BP Kevin! Excellent goals there, happy investing!
[email protected]
RentWerx Property Management4.73310 Reviews
Website View Page
0 Reply
Scott E.
Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes
3y
Welcome to the forums Kevin. You've come to the right place to start learning the ropes!
Sorry to be the bearer of bad news, but retiring off tax liens, wholesaling, or any form of real estate investing in just 1 year is impossible (unless you're going into it with millions to invest).
Give yourself the next 6 months to learn. Spend a bunch of time here on the forums, listening to podcasts, reading books, all of that. Once you establish a foundation of education and you pick a niche, then it'll be time to start pursuing your first deal.
If you are driven, disciplined, and focused, you may be able to retire off real estate by the age of 60. But it's going to be a grind. This is not a get rich quick line of work.
3 Reply
Kevin Holmes
OP
Las Vegas, NV · Member since 2022 · 17 posts · 9 votes
3y
Quote from @Kerry Noble Jr:

welcome!

Thank you. I've seen a few people say that Indiana is a great place to invest!
1 Reply
Kevin Holmes
OP
Las Vegas, NV · Member since 2022 · 17 posts · 9 votes
3y
Quote from @Scott E.:

Welcome to the forums Kevin. You've come to the right place to start learning the ropes!
Sorry to be the bearer of bad news, but retiring off tax liens, wholesaling, or any form of real estate investing in just 1 year is impossible (unless you're going into it with millions to invest).
Give yourself the next 6 months to learn. Spend a bunch of time here on the forums, listening to podcasts, reading books, all of that. Once you establish a foundation of education and you pick a niche, then it'll be time to start pursuing your first deal.
If you are driven, disciplined, and focused, you may be able to retire off real estate by the age of 60. But it's going to be a grind. This is not a get rich quick line of work.

Thank you, Scott.

I appreciate the timeline. Your overview on how to do this is GREAT! I'm not a follow the directions kind of guy, BUT I do see you MUST be in the category of Real Estate.

Thanks again.

1 Reply
Kerry Noble JrPro Member
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
3y
Quote from @Kevin Holmes:

Quote from @Kerry Noble Jr:

welcome!

Thank you. I've seen a few people say that Indiana is a great place to invest!

i would agree
0 Reply
Kevin Holmes
OP
Las Vegas, NV · Member since 2022 · 17 posts · 9 votes
3y
Quote from @Melanie Thomas:

Welcome to BP Kevin! Excellent goals there, happy investing!

Thank you, Melanie!
0 Reply
Pam Brown
Real Estate Agent · Indianapolis IN · Member since 2022 · 144 posts · 65 votes
3y
Hey Kevin. I've been a RE Broker in Indianapolis Indiana for a long time.
PMI Indianapolis Realty has a full team including pm and contractors.
We work in all surrounding areas within about an hour+ of Indianapolis. Including Anderson, Marion, Muncie, Speedway, Greenwood, Fortville and other areas.
All of my contact info is on my Profile if you would like to reach out.
Thanks!
0 Reply
Scott Mac
Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
3y
Quote from @Kevin Holmes:

My name is Kevin " Inky Mann" Holmes.

I'm a music producer and host of Inky Mann Show (YouTube). My goal is to retire at 50 (I'm 49) and I believe Real Estate can help with that. My introduction into Real Estate was tax Liens and wholesaling. I'm doing research on both, BUT I'm ready to start failing!

This way I can get closer to my goals.

I hope to meet and network with some GREAT people in here.

Let's goooooooo

Well Inky Mann,
Get yourself 20% down in cash for the price of a home, and get qualified for a loan for the other 80% (can YOUTUBE Dinero qualify you for a loan--I don't know. You might need to get a decent paying W2 job for 2 years to get a reasonable interest rate loan.
If you cannot get a reasonable interest rate, (one that cash flows the property) you will probably need to put more down.
If you can find a 2-plex, 3-plex or 4 plex you can live in one of the units and put 3.5% down, but you need a good price to cashflow due to the lower down payment. That would be with an FHA Loan.
Find out what you need to do to qualify for an FHA loan on a rental...and do those things....because without a loan the down cash is useless, and without the down cash the loan is useless.
It takes money to make money.
Learn what the FHA lender wants you to be and do to loan you the money first.
Good Luck!
0 Reply
Kevin Holmes
OP
Las Vegas, NV · Member since 2022 · 17 posts · 9 votes
3y
Quote from @Scott Mac:

Quote from @Kevin Holmes:

My name is Kevin " Inky Mann" Holmes.

I'm a music producer and host of Inky Mann Show (YouTube). My goal is to retire at 50 (I'm 49) and I believe Real Estate can help with that. My introduction into Real Estate was tax Liens and wholesaling. I'm doing research on both, BUT I'm ready to start failing!

This way I can get closer to my goals.

I hope to meet and network with some GREAT people in here.

Let's goooooooo

Well Inky Mann,
Get yourself 20% down in cash for the price of a home, and get qualified for a loan for the other 80% (can YOUTUBE Dinero qualify you for a loan--I don't know. You might need to get a decent paying W2 job for 2 years to get a reasonable interest rate loan.
If you cannot get a reasonable interest rate, (one that cash flows the property) you will probably need to put more down.
If you can find a 2-plex, 3-plex or 4 plex you can live in one of the units and put 3.5% down, but you need a good price to cashflow due to the lower down payment. That would be with an FHA Loan.
Find out what you need to do to qualify for an FHA loan on a rental...and do those things....because without a loan the down cash is useless, and without the down cash the loan is useless.
It takes money to make money.
Learn what the FHA lender wants you to be and do to loan you the money first.
Good Luck!

SCOTT! ( sorry for yelling)
I LOVE this advice! This will be something to look into. I've heard about this before but at the time I wasn't into Real Estate, I was looking to buy a house. Now that I'm aware of some strategies, that went into the back of my brain!
Thanks for that...GREATLY appreciated
1 Reply
Kevin Holmes
OP
Las Vegas, NV · Member since 2022 · 17 posts · 9 votes
3y
Quote from @Pam Brown:

Hey Kevin. I've been a RE Broker in Indianapolis Indiana for a long time.
PMI Indianapolis Realty has a full team including pm and contractors.
We work in all surrounding areas within about an hour+ of Indianapolis. Including Anderson, Marion, Muncie, Speedway, Greenwood, Fortville and other areas.
All of my contact info is on my Profile if you would like to reach out.
Thanks!

Thank you. I will look into that!
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