All Forum Posts by: Timothy Edwards

@Raymond B.

Nice - thank you for the tip. I'm brand new, so I'm learning not just REI stuff!

Have a great weekend!

Tim

Welcome! I would subscribe to some of the forums that analyze deals to see what veterans recommend. There was a post today wanting to buy a house for $102k (brand new investor) and the first reply suggested paying no more than $60k to make the numbers work. That one post reply could save a guy from losing his shirt!

Massive info on hear - I'm learning myself and the more I read the more I learn that I have a LOT to learn. Just praying analysis paralysis doesn't set in! :-)

Welcome! Nice job on your first property! Learn all you can here and you'll be well on your way! Good luck

Welcome @derrickanderson

Welcome @yancysantana

@DonnaGross welcome! I am new here as well and @paultimmons is spot on regarding his suggestions. Ironically, I was just sitting here talking with my fiancé, seeing her mind at ease that BP is NOT a guru website when you posted about your seminar. OUCH! Good luck in Florida!

@johnrylander Welcome aboard John. Newbie myself (I'm seriously thinking of having my signature read "Clueless1". Gotta have a sense of humor. You are going to be BLOWN AWAY at the amount of information! Good luck

@kevinpfeifer I'm thinking figuring hourly salary might be very motivating but could also make you rethink the deal. Interesting take.

@sydneychase where are you coming up with the dollar amount on the increased offer price? Must be a formula in the somewhere?

Also, if you utilized 70% ARV to come up with offer price you would come to $102,000. I'm a novice but a lot of what I'm reading shows 70% as the benchmark. Thoughts?

@michaelsiekerka That's good info to know. I'm just learning rei investing and soaking up everything I can. So, would the solution to avoiding the mortgage being in my name be to do the mortgage under the llc or dba to start out our is a bank completely going to throw that option out as non viable?

Thanks to everyone for the warm welcome! Lots of learning to do - along the way, confidence to jump in will hopefully develop as well! Excited to get started, but apprehensive as well. I know at THIS point, that's probably healthy! :-)