All Forum Posts by: Johann Martinez

Nice to meet you and love the ambition! I was in a similar position at your age and waited until 21 to get my first property, I am 22 now. As previously said, look into FHA financing. This is a great way to start house hacking and start your journey with little money down. The loan only has 3.5% down but it does require a mortgage insurance premium every month which will add quite a bit to your PITI payment. When I used my FHA loan however, the interest rate was quite lower then conventional financing which is a plus! When you run the numbers factor in about 0.1% of the purchase price for your monthly MIP. On my FHA loan my purchase price was 435k and my monthly MIP is $392. Once I have enough equity I plan on refinancing to be able to drop this off.

Good luck with your journey! Excited to see what you do!

Hello, Kaiden it's nice to meet you, and thanks! The MIP tip was something I did not know so thank you, and I will try to learn more about house hacking and try to implement that into my plan. Best of luck to you my friend can't wait to see how your investment goes!

0 Votes

Riverside, California

Quote from @Justin Windham:

@Johann Martinez

Welcome to Bigger Pockets!

This is a great place to learn and network.

The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could use the search feature here: https://www.biggerpockets.com/search/users

Hello Justin 👋 thank you so much for this information, and best of luck to you too.

0 Votes

Riverside, California

Quote from @Heather D.:

My family and I just got started too and we just closed on our first duplex so, congrats on taking the leap. You should be able to qualify for an FHA loan and other types of first home buyers programs. Whether you buy off-market or MLS, working with an agent who is also an investor will help you get moving faster and provide you with contacts like loan officers/brokers, and private and hard money lenders. It sounds like you have some construction knowledge so the BRR method also may be a great option to look into. Best of luck to you!

Congrats on the closing Heather yea I will definitely look into BRRRR and see if can I get it rolling and will start looking for agents that have a investment portfolio aswell ty for the advice!

1 Vote

Riverside, California

Quote from @Julio Gonzalez:

Hi Johann, you came to the right place to learn more about real estate investing!

I want to wish you the best of luck on your journey!
Thank you so much Julio best of luck to you to

0 Votes

Riverside, California

Hello BP! My name is Johann and I'm very excited to get into this. so a little info about me, I'm 19 and live in CA, I'm saving up money for my first property, which I expect to have around 30k by the end of the year which isn't a lot but it's what I've got going for me and I don't own a car. I'm building up my credit score which as of right now is 715 and work with my father in roofing. Including taxes and expenses, I take 25k home each year. I want to get started with multifamily and build up from there, but with my current situation, I doubt I'll be able to get approved for conventional loans for these properties which will force me to be more creative about the way I'm going to fund an investment. I'm reading, listening to podcasts, and browsing the forums, but I haven't gone to any meetups which I need to start. The main problem for me would be getting networked(financing, team) and trying to narrow down my focus and solidify a business plan, but I would like to get some pointers from you guys about what I should be thinking about and what I should be worried about, am I missing something or does it sound like I have the right idea? Thanks BP

1 Vote

Riverside, California

Frank Gallinellis's book on REI is amazing, so if you guys can get something like that out or somehow get it in the store it would be great.

0 Votes

All Forum Posts by: Johann Martinez

Johann Martinez has started 2 posts and replied 16 times.

Post: Setting up and getting started

Post: Setting up and getting started

Post: Setting up and getting started

Post: Setting up and getting started

Post: Setting up and getting started

Post: QOTW: What book topics do you feel are missing in our lineup?