All Forum Posts by: Cody Evans

Hi Jessica,

First off, I am not an expert on this but I do know not having a W2 income makes it much harder to get a loan. So if you have 200k in the bank and thats it, you will not be able to use all 200k as a down payment unless you have stable income flowing in. 

I also recommend not being hasty. Stay on this site for 3 months while making a few posts a day to learn about what you are getting into. I would have made so many more mistakes had I not discovered this site. Investing can be a hell hole if you do certain things wrong. I am not sure what others advice is but you may want to save some of that 200k and only purchase one house to see how you do with management, contractors and all the other mistakes you WILL make when you are just starting out.

I hope this advice helps out and others chime in as well. You are in a good financial position if you have 200k saved up.

Hi Christopher,

I dont have specific answers but I have some general advice on how to learn more about investing.

1) Stick here on BP and ask any questions you have.

2) Make sure your personal finances are together so you have as much capital available.

3) Post your questions seperately in different forums. You will most likely get more responses if you break up this post and put it into the loan/finance (something like that) forum section and the legal or LLC questions subforum.

Best of luck, you sound secure with alot of people wanting to go in on a deal with you which is great!

Hahaha Brent!

Try out the Meet up app. It gives you many options and you can just read through the Meeting groups profile to see if they are gurus or if they are real investors you can learn from.

I have not and for good reason. You can get all the information you need for free on the internet or low cost in books. I recommend staying active on Bigger Pockets and read a few books before spending lots of money on someone elses promises of a successful career if you just do x.

Hi Bailey, You did a great job by getting on Bigger Pockets. Ive only been on here for like 3 and a half months and have learned invaluable information. Stick on here and ask any questions you have on the forums. 

That sounds harsh. Too bad you had to go through that. If you are showing the place you have to get the lights on for move in so be careful about that. I dont think you have a choice.

If the homes are distressed then they arent comps. Market value is also known as the ARV or After Repair Value. Market Value could be lets say 100k but if the home needs 40k in repair then it could sell for the difference.

Can you still get charged with defamation even if the statement is true?

@John Warren

How did you go about approaching brokers about a part time position?