All Forum Posts by: Jonathan Jaime Velarde

I think the key is to be genuine and sincere. You would't walk up to someone and say "will you be my friend", so you probably shouldn't do that to find a mentor either! 

I'm in the beginning stages of starting out and currently saving towards my first property while still in the military. I've been all over the forums, read many books, listened to podcasts, and attended my first meet up a few weeks ago. I also wish there were more meet ups around and more frequent, but if you want that then you should just create your own group! 

This might be the best way to find what you are looking for. By setting a meet up people will naturally go to you and you'll be the head of the group bettering your chances for more mentor positions. 

Show up early, work hard, and bring more value to them at least in the beginning and the mentors will be glad to teach/work with you.

Kevin Phu Jeremy Marrs Nick G. Ashley Benning You guys should start a meetup. I'll be living in the area next summer once I transition out of the Marine Corps. Lived in Newbury Park all my childhood up until I left for boot camp. Looking forward to networking with you all!

Treat it like a business and have them pay for their checks if they are serious about living in your property. If they are uncomfortable paying $40 to get a living arrangement they will probably shrug their shoulders when it comes to other things around your property and will fail to keep good communication throughout their tenancy. 

I think it is definitely worth it to have the screenings to cover yourself and your property!

Linda,

Great job on getting started! I agree with @William Leahy in that you should add a few "homey" pieces of decoration throughout your photos. Make it look like people are there so your potential customers can envision themselves around the dinner table or fishing off the dock. 

Don't be intimidated, but be thrilled! Good for you!

Best of luck

@Account Closed

What would you do if you had $20K to sit on for a year? I'm not able to live off base so I can't use VA loan for a primary residence until I am out. Keep it liquid...???

@Account Closed

Should I only sell it if I can get a competitive price for it or should I sacrifice maybe 1-2K to just get rid of it , have a fuel efficient vehicle, and 15-17K cash?

Fair price would be $25K. I could probably sell it ASAP for 23K.

2016- Pay off Truck (COMPLETED)

2017- Max out ROTH IRA & build bank roll for first property/Reserves (ON TRACK)

         - Attend first RE Meetup (COMPLETE)

         - Make offer on a property (COMPLETE, but didn't get accepted)

         - Read 2-3 RE books per month and listen to podcasts (ON TRACK).

2018- Transition out of the Marine Corps

         - Have at least $20K cash to purchase first property

         - Transfer to Community College using GI BILL, get my 60 credits, apply to UCLA w/GI BILL.

2019- Have my first property using the househacking method

@David White

Good on you for taking the initiative to change your circumstances for the better. 

Getting that new SSN is imperative so you can start with a cleaner slate. If you have any debt I would focus on paying that off first then start paying yourself (Savings,Retirement,Emergency Fund) first before any other bills. You will find a way to get everything paid because of your hard work ethic. 

Most of all the information you could ever want is found via YouTube, BiggerPockets, great books that are sold cheaply on Amazon/Ebay. 

If you're working that many hours could you ask for a raise or go to another job that pays more and values your hard work better???

I would attend some local Real Estate meet ups and talk to as many people as you can. They will be happy to give you advice and valuable information. Bring your wife along as well so you can learn and grow together. 

It sounds like you've had a series of misfortunate events, but you have the right mindset to power through it. As you can see there are many people who will be glad to assist and offer advice so keep pushing through. There is a shining light at the end of the tunnel my friend!!!!

Good luck!

@Jeff Moore

Welcome to BP!

I'm transitioning from the Marine Corps next summer and looking to buy and hold as well. 

Currently saving as much as I can to build my bankroll and reserves. Be sure to use your VA loan if you are looking to house hack. Also, the Post 9/11 GI BILL offers some great benefits as well.

Check out benefits.va.gov to learn more. 

What are your goals for the next year, five years, ten years when it comes to RE investing?

Good luck!

Good Afternoon BP,

I own a 2012 F150 FX4 5.0. 

I paid it off last year and currently going back and forth with whether or not I should keep it or sell it for roughly 24-25K, spend a couple grand on a super fuel efficient car, and have roughly 20K to help fund my first investment property? If I don't sell it I'll have about $20K cash next summer and if I do sell it I would probably have around $35-40K cash, while still being debt free. 

I have no debt to my name and I will be moving back to Southern CA once I am out of the military next summer. The truck has 82,000 miles and is in pretty good condition. 

What are your recommendations?