All Forum Posts by: Patrick Pierre

Congrats on approaching closing on your first property. Exciting and best wishes.

I was walking near my neighborhood and saw this for sale by owner sign. If anyone is interested in the information that I saw on the lawn let me know. This is definitely out of my price range (Anaheim) or else I would inquire. 

I'm currently reading the book "Incredible Real Estate Deals" and I know driving for deals is one of the methods investors use to find deals. But this house doesn't look distressed though. It's a real nice house, at least from the outside. But thought I'd do my part and help out a fellow investor who might be driving for deals.

Yes as @Marlen Weber mentioned you have the right mindset by soaking up information. Continue to do so. As far as the no money issue, I'm pretty sure most successful investors started out with no money. I'm also sure the successful ones also didn't let not having money stop them. Until you can get creative, just continue to save and learn. 

And don't feel like you have to rush to get a property. There will always be deals. Your job now will be to figure out which are the good deals. And hopefully, by the time you figure that out, you would have saved a nice decent down payment for a traditional loan or the more popular with new investors, FHA loan.

Use it to put 20% down on a duplex that's under $400k. Invest the rest in an index fund. 

Welcome @JamesIsaac Smith, I think it's awesome you're going back to school to further your skills in something you seem to love doing. That's a great start. Since you want to build and remodel houses, I would try to build a relationship with a great real estate agent. A good agent will be your best ally.

And as Ned mentioned, there are tons of resources here on BP, I would also attend one of the weekly webinars if you can. Those can really motivate.

Yes, count me in. I would be interested in meeting up.

I second @Sergio B. a peer review option would be great like Amazon with a star system. And of course, those reviews should be vetted to make sure they're legit. 

But personally, whenever I see a review by peers who's used a particular product, that review has more weight than anything else.

I've read that at times it's better to buy a property with no tenant in it and get your own tenant. This thread makes me realized why this makes sense. 

I really hope things work out for you Charles. And the fact that the tenant is a single mother makes me also feel for the situation she's going through. Hopefully it's a happy ending for everyone involved.

Sounds like you have a plan @Cary Plummer. Stay the course and as others have mentioned, this BP community is amazing. There's so much educational stuff on here, BiggerPockets should be an accredited university. 

I definitely hear you, Robert. I'm debating the same thing as you. If you really don't want to find someplace that's too far, have you considered possibly getting a partner for a Triplex? Or try to increase what you qualify for by saving up for a bigger downpayment and increasing your income?

I think if you really want the Duplex you should figure out a way to make it work. You might have to make the sacrifice of that 1hr commute.

But ultimately, if you don't mind having roommates than SFR might be the way to go. But me personally, I can't do roommates so that's why I'm sticking to my Duplex plan.