All Forum Posts by: Alecia Bolton

This topic is where I started.  I'll put the highlights below that I've personally done.  

Note Inc podcast

Naked Notes podcast  (podcast for NAP Nation, which has training where they literally hold your hand through your first note purchase)

NoteInvestingTools.com - they have inexpensive but really great classes and a lot of free blog material.

Troy - I have a contact I'm going to reach out to.  I probably won't hear back from her until next week, but I have a hunch she'll be interested.

Are you guys talking about originating notes or brokering existing notes?  

I'm also looking for a little rock lawyer.  I have 2 potential deals in the works, one a subject to and the other with owner financing.  

I'm looking at a couple deals on rentals in Albuquerque.  I'm not at all familiar with the area.  Can anyone give feedback on the areas? 

1) SFR on Edith Blvd in Northeast Valley (according to google maps). About 1.5 miles south of Hwy 423. Unincorporated.

2) SFR on east side of Lomas Blvd & Hwy 556. Some really nice looking houses in this area.

Trying to do our due diligence.  Appreciate the help!

We're planning on selling our SFR rental property, and we'll net at least $90k. We're also be listing it for $85k more than what it was purchased for (it was originally owner occupied, and has been a rental for 5 years). It has never cash flowed, and so has deferred losses for the past 5 years. In theory, the losses would offset at least some if not all the gain.

I'm a wholesaler, and want to also flip houses, and our plan to build capital was to tap into a home equity loan on our primary for the down payment/rehab costs, when we went that route, if we didn't have the reserves from the wholesaling built up.

But our end game is to own enough doors (multi-family complexes) to generate enough passive income to replace the families w-2 income. That's our 5 year from now goal.  Shorter goal is to replace my income with active/passive income in a year.  We've been assuming cash flow of $200/door.

So here's the questions.  We were originally planning on using the $90k profit to pay off a 10% loan and bank the other $25k to use in the flipping business.  But in my mind, that seems to be focusing on the short term instead of the long term.  And i'm very motivated to start generating the passive income.  

So, does it make more sense to pocket the profit and build up the flipping business and pay off the loan, or do a 1031 into a multi-family, or several SFR, in a cheaper part of the country (i'm in seattle). And if so, where does that make sense.

Appreciate your input.

That sounds really complicated, and something I'm completely unfamiliar with.

I'm a new investor working my first deal.  I've found one of those properties where you wonder what the heck is wrong with it to make the price so low...well I've found out.

Someone started a rehab on this property and apparently decided to bail partway through.  It's an old craftsman, and one of the upgrades they did was turn the attic into 2 bedrooms and a bath, un-permitted.  Which means cash only, which isn't a problem.  I'm planning on wholesaling the house, but I'm not sure what the rehabber who ends up with the house will need to do to be able to sell the house on their end.  Any advice would be appreciated.

Thanks!  Really excited to be here.

I've been lurking on BiggerPockets for a couple weeks and decided to just jump in the pool.  My name is Alecia and I'm brand new to investing, although I've had an accidental rental for the past 7 years (we were upside down and decided to try it...we lucked out with an awesome property manager and never looked back).  We'd planned on getting into real estate in a couple years, saving up the 20% down payment, etc, and learned there are other methods, so we're going there.

I'm initially focused on wholesaling, but the goal is to move into fix and flips and build a rental empire.  I'm planning on quitting the corporate world in a little over a year.  I'm really excited to be part of the community!