All Forum Posts by: Andre Walker

@Brian Gerlach, wow that great to hear, will definitely look into that I as I near completion and look for my next investment

@Annie Zhao, My 1 step would be to look at the tenants landlords for the state of Delaware. I know as a realtor you cannot but I need to refresh my own knowledge on that situation.

If this does or doesn’t works, could you let BP know what steps you took to resolve the problem?

Best Regards,

Walk with Me

Needs to Be Completed: The kitchen, flooring, banisters, new coat of paint, lighting fixtures

Completed: Roof 4/13, Attic intstallaion 6/17, windows 6/17, hotwater Heater 6/17, replaced All doors 6/17and updated Bathroom 6/19

Thanks man and yes things are looking up. The ARV 120K, FMV 70k . I bought it for 28,9k and approx. 14k in repair; water heater, instalation in the attic, new windows, uptdated bath room, new doors (6) and now woring on the kitchen. I Do have equity but, was told that due to a low credit score that i could not be approved for a home equity loan.

No, I Did Not run the numbers, I came into some money in  settlement and knew that I wanted to get into Real Estate and I didnt't want to be talked out of it. So now I am hustling backwards to educated myself on the mant different aspects that one could invole themselves in when it come to being an Investor. Now that I am in this situation I am realizing that this is the best thing that I am doing since I was a teenager. Yes, I am discouraged a bit but, from what I am learning is that I am only facing what other's have met. Meaning that when I look in the mirror, I see that I underestamated my opponet and did not prepare and because I did not prepare I have two chioces: Throw in  the towel and sell the house, lose the equity and receive way less than what I paid or Suck it up realize that this is the cost of the Lack of Education and counter it with multiple worst case scenaios to protect this asseet and those in the future. I Headed towards the latter because I can't put a price on how much valuable experience I am going through. 

Can you talk about a your thought process as you plan for worst case situations? 

Caught Between the Crosshairs, I have a Property that I bought as a inital investment propertry, got placed in a situation had to live in it, then family (children) came to live with me all while rehabing the place over the place over the past 5 Years, nearing the completion but, I am at the piont to where I need more than what I know or at least think that I know.  What I DO know is that because of the great advice that I received from Mitch Messer on to use this platform and because I applied his advise I am writing you seeking an opportunity to learn from you.

About me; I am 45yrs of age, A Son, Father of 3, and REI. I live in the Wilmington Delaware Developmental District. I boughgt an Inverstment Property 5 yrs ago with tenants paying 850 monthly. Due to an unfortunate situation I ended up living in it, and completeing things that I could do myself and things I could not was contracted. This is all being done at my own expense while working a w2. At this point I am all in approx. 43k purchase price and repairs. last part of repairs is the Kitchen and confused and seeking Guidance in applying a EXIT strategy. I feel as though know what I am Doing but the fear and its not in following it how to plan for the unknown, especially since I have my children on this journey and being completly broke, homeless, and Hungry is not an option and neither is taking a loss.

So yes, I here to learn and take you up on your challenge because I AM seeking to get started if you are Still HELPIng .

Respectfully,

Walker of Walk With Me

Welcome to BP and Congrats on a very successfull start in you Real Estate Investing career. Your story inspires me and let me know that I am on the right track. I am Currently living in a property that I aquired 5years ago for 28.9k cash invested 15k thus far and now working on the kitchen now once complete looking to rent. 

look forward to reading more about your sucess, just note that you picked a community that want to see you WIN 

Peace

Welcome to the BP community and turning 18 in a few days! Like you I will resume RE Classes in July and finish some time in August. To answer your question about college necessary, I am going to say no and I have a B.S. in Human Behavior and a Master's in Education. I Belive in this career you earn as you learn especially if you apply action. Becoming an Agent in my opinion is the ground floor of real estate. 

Hopes this help and again welcome to BP and Happy Birthday!

@Christos Philippoui currently live on 4th st, 4th and DuPont to be exactly. Can you elaborate orate on the specific type of tenants that you are specifically marketing to because I would like market to within this area?

Thanks in advance for any and all suggestions you can provide

@Brian Geiger I am new to the game as well and was a bit timid until I just read your advice to a newbie (me). I kind of always knew that investing until my realtor got tired of me calling and asking questions, not that she didn’t mind. She kind of figured out that I was in a real estate class that I am almost done with. I am currently living in the investment property as we speak that I purchased 5 years ago cash. There was a tenant living there when purchased and stayed two months after paying month to month.

Fell on hard times and needed a place to stay. Began doing some repairs; installation in attic, new windows, new bathroom, new hot water heater, outside of drainage pipes. Now I am in the kitchen finances are almost done and in the process of getting credit on track.

Is there financing options that educate myself on to stop the bleeding?

Hey BP! 

My name is Walk with Me Drey, I live in Wilmington, Delaware and have been here since April of 2015. I have a property that I paid 28,9k and has invested about 15k for a total of 43,9k. I am a father of 3, work a w-2 as high school counselor. At this point my savings is almost exhasuted. I am diligently working getting my personal credit in order. Attemped to get a HELOC and was denied due to personal credit (Leraning Curve for me). Question, is there another method that I can explore to complete the renovations to get tenants in the property?