All Forum Posts by: Juan Campos

@SamSilverman - Hello Sam, I am a new investor residing in Dallas tx,

I have been reading books, live on the

BP forums, listen to podcasts, attend

local real estate meetups with My wife who is fully.on board now, (took me about 2 years to educate and bring her on board)

I am currently employed as a gm for a family owned restaurant ( not my family) working long hours but I am looking to work my way to RE

Initially I was fired up about multifamily specially duplexes, but here in Dallas unless it's off market there are virtually none existing, and when one is finally found it's either above 400k.

So we decided to get our feet wet with a sfh that we are saving for and plan to invest in here in the next 10 months, currently learning to analyze deals and run numbers. We plan to rent it out after 1 year and move in with some family continue to save up and repeat the process.

During that time j will be dully dedicating my sparw time from work ,breaks. Days off to educate myself further on RE, So I guess my question is, for someone trying to get into sfh, eventually multifamily and apartments

What would you recommend to be the first couple of steps or what strategy would you follow?

You are very experienced and have seen and donde deals I can only dream of at the moment ,but I know with the right skills and strategy in due time we will get there

Thanks

@Christopher Abele you should do research here in the Dallas market and update your findings!

@Jeremy Nault any specific podcasts ? News articles ? You recommend

Hello fellow investors! As I previously stated I'm looking to buy in the next 10 months!

My wife and I Currently have short term and long term goals, the deal line for the long term goal is october were looking to raise 15k by then to use an fha 3.5% loan on our first sfh ( currently we rent an apartment, )

Iknow a lot can happen between now and then, I am fully aware that we are in a sellers market (Dallas area)

My question here is how can I bring in more capital?

What are some side hustles some of you investors have engaged in to bring in extra capital?

I work about 13 hours a day sun up to sun down at the moment, which is also why I developed a vision to retire through realesstate investing coming from a financially illiterate background I made it my goal to become financially literate and have been working on it for some years now reading listening to podcasts, checking this forum daily , takingnotes, ,digesting all that I can, I also made it my goal to teach financial literacy to children starting with my family members..

So with my tied up work hours what are some side hustles you guys recommend ?

Im currently a gm for a local family owned restaurant here in Dallas tx.

Thanks in advance !

@Nick Belsky so wait if I buy my first property here in the next 10 months trough a traditional conventional 3% or fha 3.5%

And decide to lease out my property after 1 year (meeting the fha loan condition of a first time home buyer ) in order for me to buy my second home I need this type of loan? And a minimum 20% down payment ?

Thanks in advance

@Juan Campos "how exactly " not how wealthy, typo.

Hey guys back with another question for the veterans and pros!

How wealthy does a cash our refinance work?

Assuming I buy my first property this year which is my goal, let's say I build equity on it 20k got it for 200k, it appreciates in value to 250k, I can take the difference as a loan And put my home as leverage ?

But now not only do I Have a mortgage I have an additional loan on the home? Or is it combined into my mortgage with a lower rate?

With that being said how would I purchase a second home /rental if my dti is high due to my first mortgage and loan? Do they analyze the income in my first rental ?

I just ordered the brrr book, how to invest in realestate book as well and I am excited as I do look forward to doing this, but this part is where I get confused,

@Alex Roter how does that work exactly taking out a loan on your current home , to buy another home now you have two loans ?

Your main property is being rented out so tenant pays for it

And now you have a second mortgage that you're paying for ?

But the cashflow only covers the first home, what about the second one? Assuming you do your due diligence and the house appreciates in value and gives you good returns, there's still

capital expenditures in the long run ect

How does one exactly benefit here ? Still learning and one of thr things I'm struggling to understand is this particular step along with a cash out refinance

@Scott M. Savage but I love it great tips

@Joe Villeneuve

Got a book, a video, a podcast you recommend something I Can study long term ?