All Forum Posts by: Branden Sewell

@Niksa Mijic I have a a couple realtors helping me find some. There are a few. Not super good deals though. Probably not worth it.

@Dean Letfus

Just so you have some background on me. I moved to Florida one year ago. I moved here to start a business. Mind you, I didnt have any prior experience starting a business. I didnt know exactly how it would work. I moved to Florida with some money in the bank to pay our rents for a few months and live off of our savings. We moved to Florida with no income. My wife didnt have a job lined up and all I had was the plan to start a business. My own father told me not to do it because it was too risky. Guess what I didnt listen to him. I moved anyway and started the business. I hustled and made it happen. October will be a full year in business. We will hit around $511K. I am actively saving $1-$2K per month. We had some big loses the first few months from bad decisions. But that didnt stop us... we learned from the mistakes and kept moving forward. I define myself as a go getter. $511K might not seem like much for some people but Im proud of what we have accomplished in less than a year. Just because I was wrong about a concept with real estate does not mean I have a utopian view of society; however, I had bad information. Now that I know how it really works I course correct and keep moving forward. All that to say, I really appreciate your feedback and I will head your advice. :D I will have a little over $10K by the end of the year but that still wont be quite enough from what most people are telling me.

@Mark Sewell

I wasnt being completely serious. lol

@Dean Letfus

Yeah I have to admit I am a complete idiot when it comes to real estate but the whole reason I made this post is to learn what I dont know. Its obvious that I have a lot to learn. Saying that I am a complete novice when it comes to real estate is an understatement. LOL :P Thanks for your feedback!

@Mark Sewell So many investors say a single family is a terrible idea and a duplex is a better option. That’s why I was aiming for a duplex instead. I like the idea of having someone else pay my mortgage while I save money for my next deal. Anyway, we already got pre approved for $200K and we can definitely make that happen on a single family so if it comes down to it we might just get a single family the end of this year and do exactly what you said. But I’m trying to fight for the duplex if possible.

@Dean Letfus I was surprised too. I was hoping to find some encouragement and some bold go getters with solutions and answers. I appreciate your feedback. I will take the negative too and glean from it.

@Lincoln James I think that is the risk you take to play the game. I don’t think you can avoid all the risks that can happen. I’m already paying a $1200 a month rent. So what would it be for me to pay a $1200 a month mortgage. Im already paying someone elses money and losing opportunity so why not take a risk at being in the winning side of things? I guess the first deal doesn’t have ideal scenarios but action is what I am going for. I hear a lot of stories on BP of people who started with high risks but they started and that’s what mattered most.

@Lincoln James I don’t find your comment to be rude. But it would be helpful if you could share some of your knowledge on here about leverage. What should I be learning about leverage? 

@Doug Orchard I think I have heard of someone else doing that method on BiggerPockets. Not too positive but my biggest advice to you is to not get discouraged. There is going to be a way you just have to keep searching until you find it. Dont give up!

@Jack B.

I appreciate your feedback. Can you delve deeper into why you say it is not the right time?

@Stephen Jeffers

Forgot to mention and you may not have seen it in another post but we can save up the down payment by the end of the year just not down payment and closing costs. For example, if we end up needing $14K we will have $7K of that.