All Forum Posts by: Damaso Bautista

@Trevor McGrath

This is a great question because you have options.

Many new investors come on here and have no money and are tied to a geographical location.

Since you have some capital and aren’t tied down I would advise the following:

1. Find a place where you could find a high paying job

2. A location where you want to live and possibly raise a family in

3. This place needs to match what your barrier of entry is (depends on your cash on hand and the money you make from your W-2)

4. Use your capital on hand to get into a home and house hack.

5. Save money from your job by living beneath your means (drive a reliable paid off car) get metro PCS instead of ATT)

6. Get your next deal and continue on

In life if you make a road map and follow it the chances of getting to where you want to be are great.

If you play the long game and not the get rich quick game you will look back in 30 years and be amazed at what you built.

My advice to a 20 year old with some ambition, a little bit of capital and not tied to any geographic location.

Good luck young buck!!!

@Account Closed

I would have to agree with @Twana Rasoul on this one.  Unless you can move anywhere in the US without restraints.  If this is the case find a location where you would like to live that is affordable and put money some money down on a primary residence, then used the rest to buy a multifamily. 

@Louis Lord

Go to school, learn how to read and write properly, work on your communication skills, make as many friends as possible, play a team sport, pass high school,  go to university, get a high paying job, save money for down payment, buy a duplex and live in one side and rent the other side. 

If you complete the above you will have done more that the average adult out in the world. 

Good Luck!

@Diane G.

Funny comment lol 😂

Much of society lives in a residence with only 1 bathroom and more than 3 people living in it.

For most people a second bathroom is a luxury.

I find your comment to be naive.

@Michael Majer

Look at this scenario logically.  If you walk away you loose $2000. If you stay and can not find money to finish the project then you could be out way more than $2000. 

If I was you I would run my numbers by some local investors (the ones who have outbid you before).  I am sure if there is money to be made there a well funded one (like one with 70K) sitting in the bank would love to take over your position.  

Give them your position in the deal for $2000 or any number that you don't mind losing to walk away from this deal untarnished.

If that doesn't work, then walk away and lose your $2000.

There are many more scenarios that you could go through.  You just need to find the one that you are most comfortable with.

On a final note-  I agree with @Patricia Steiner

You don't seem to be in a good position to be putting bids on properties that you can not complete the transaction on.  You need to go back to the drawing board and secure your game plan a little better.

I hope everything works out for you.

@Kyle Shepherd

I think your issue is that you are looking to buy a piece of property with nothing on it and develop it.  I believe the terms on straight land are different.  

If you are trying to buy and house or up to a 4plex, 25% down and 30 year fixed mortgage are typical.

@Paul Sandhu

My end result isn’t about money it’s about pleasure and everyone’s pleasure is different.

@Danny Le

Never sell property in So Cal unless you are ready to leave and never come back.  That is my opinion. Good luck!

@Account Closed

Hey Scott I think your view of what a real estate investor is supposed to look like is very narrow.  I fell like now with information shared so easily its very easy for someone to look into the world of real estate investing, check it out and then step out just as fast as they arrived.  

I believe there are those who are just window shopping.  They sit behind the keyboard and play virtually real estate investor everyday like a video game.  They never win and they never lose, but none the less very entertained by the idea of being an  investor.

Then there are professional real estate investors. These people dedicate their life to the profession. They make their living from their profession. They uphold all of the ideals that you seem to be looking for in a REI.

I believe your view is too idealistic.  I don't believe there is any perfect profession or industry out there.  You just need to find the people in your industry that make you money and that are up to your standards. 

Just my thoughts.

@Tony Marcelle

100% what Wayne Brooks said.

A lifetime of hard work, savings and working your long term plan in real estate investing is the most overlooked method to gain wealth.

Too many are looking for a magic pill or short cut.

More people would be successful in life not just real estate if they worked a life long plan.