All Forum Posts by: Francisco Perez

That is a good point! It is really perspective based when speaking about "deals" and investors! There are plenty of turn key investors out there looking to offload and load units!

That was a good read! I do think ethics go a long way in maintaining long valuable relationships with invenstors!

Realistically, I do not see myself coming up with $50k Plus in the next year or so. I'm not saying it is impossible, just trying to be realistic with myself, so what I am interested in, is possibly pulling another loan for an investment property (Fix and Flip.) I know its a lot easier said than done, but I believe with the right knowledge and contacts it is a pretty simple process. Although I am not in any way shape or form familiar with REI, I imagine it is the same foundation as any other Fix and Flip business.

I bought a personal home in July for $233,000. ( VA Loan %4.175 fixed) 1650 Sqft, 1/2 acre in Southern California. It is a new 2006 home, and it was fairly priced. I bought with the intention of living here for a very long time, and this area in general is priced much lower than any other part in Southern California, but it has been recently developing and I see a nice profit in the near future (If I ever decide to sell.)

Back to my main question, I am curious as to how applying/qualifying for a second loan works? My Payments are already $1400/Month so As far Debt/Income ratio goes, I do not think banks will even consider loaning to me right? Is there a type of loan that can be presented with a game plan as far as investing goes, or how does it work? I know getting the loan for my home was extremely tedious, so I'm curious if there is any possibility of being able to invest in real estate without coming up with all the capital? In other words a loan.

My idea is to find a beat up home, asses it, see if it is profitable, and buy. Fix, than flip.

Thanks!

Figures, I made this account and disappeared. Let me give a little bit of an update.
 Decided I will not re-enlist in the military. Ended up purchasing a home for my family in Apple Valley, Ca (Through a mortgage) and pretty much dumping a good amount of my savings into getting this home. Anywho, for whatever particular reason I haven't been able to forget what you said up there in big bold letters. Everytime I look at my bank account, I remember that one random person who wrote on my thread that one time. I truly do not know the value of saving my money. I have 2 boys and a wife, and I we just live a very expensive lifestyle, for example, we eat out ALOT, we go out a lot, I like riding dirtbikes, I love buying my boys toys, etc. We are absolutely horrible at saving. I know what we are capable of living off, it just seems that the more money I get, the more money I spend. Anyways, just felt like I wanted to give a small update. I Still hope to invest in real estate sometime, and figured I would try and start reading again, and hopefully begin being more active.

Names Francisco, can call me Frank. Currently Active Duty Military stationed in Point Mugu California right in Ventura County. Originally from the High desert (Victorville Ca). 

I like making money​, I don't have a lot of money, but hey I guess some of us have to start somewhere. I have zero experience with real estate. 

First business venture ever was selling candy to my schoolmates in middle school so I can afford to have a good time on a trip to mexico with my parents. 

In Highschool I learned how to hack Sony PSPs and would do a bunch of cool stuff, and would hack other peoples systems for a small fee. 

4 years ago I started buying cheap cars and fixing them for a turn around profit. To this day I've yet to lose money on a single deal, and it acts as a nice extra income.

Recently tried to start selling jerky as well, but that failed due to lack of advertisement.

Now I'm here exploring a new opportunity, hope to learn some new stuff!!