All Forum Posts by: Daray Olaleye

@Suzanne Lee 

How do you eat an elephant? 

I know it's a lot to digest and can seem overwhelming at times. Just like the many great things that I'm sure you've accomplished over your life, once upon a time every single one of those things were new. 

You stuck to it and wandered into the unknown. 

My biggest advice for you is simple. 

Find a system, leverage the system owner through the process and remain consistent. 

Lots of content will often contradict each other and in most cases, there's no right or wrong as success has been found on both ends. 

What that tells us is that it's not about the perfect system or knowing all of the answers before getting started. But rather getting started down a specific path (any path) and seeing it through til the end. 

With that being said, do not allow a real estate license or appraisal license steer you offtrack. 

If your goal is to be an investors, acquire the knowledge to do that. Things that appear to be stepping stones are often not, but fear in disguise. 

Chase your goals. Find the solutions to the questions that you've asked one at a time. 

A bite at a time.

That's how you eat an elephant. 

Godspeed.

@Lydia R. Spot on. It's amazing how so many 1st time investors find themselves in a heap of trouble. I don't condone shortcuts but I do know a few people who waited until after that first deal because they started with no money. If you know the consequences, maybe you'll think twice, get your affairs in order and/or create a pass through. 

Hey @Nathali Delgado, the short answer is why not both (to not overthink it). You can lead two very different targets through two very different experiences. If you have any specific follow up questions, feel free to pm me. I think I'd be a great resource in this department. 

1.5x rent because they came in right below credit qualifier. 

I started using @Michael Plaks and his firm this past year. They come recommended. 

@Princella Carr

What are you looking to do, maybe I can point you in the right direction.

@Matt Lewis

Hey Matt, based on your string of questions, I think it's best to get some education in the space before pursuing something like this. These forums are awesome but I think there's a lot that can fall through the cracks if this is your primary source of learning. Hit the education tab on this site and you'll have more great content than you'll know what to do with. For now, taking down this deal, much less in such a creative way is not in your wheelhouse, but in due time, it can be! Good luck!

@Alejandro Corona You've stumbled upon the right website. Practically any link you click here will take  you to a ton of content. It's a forum so most are opinion based so do your homework. Some great starter books are all of the Bigger Pockets published books, in addition to Rich Dad Poor Dad. Good luck!

@Misty Mobley-Atkins

@Kenny Lewis

Just an extra tidbit to what everyone else covered. With a double closing, title is passing through you because you are the end buyer of the 1st transaction. So if you are a 1st time investor and you have any unpaid liens or judgements, this would attach to the property and if you're married, the property could become a part of the martial estate. As with every strategy, there are downsides to be aware of.