All Forum Posts by: Manny Rodriguez

I'm not an experienced REI yet but I would like to offer advice on the power of positive thinking.

Everything happens for a reason.

Reading your post...the biggest thing that jumped out at me "my private money (dad)" is an AMAZING thing in my opinion. Sounds like you have good support to help you reach your goal.

You are a winner! No doubt! You strike me as someone who is going to go very far with the right mental approach.

If you are not already, I hope you don't mind me sharing...I would recommend always be feeding positive mental "stuff" into your mind. All the time, daily. It will go a LONG way.

If you are, my apologies (in advance) for assuming you are not.

I know what you are feeling. As a newbie...I'm losing sleep thinking...when will I get and close my first business transaction in REI. I don't feel frustration but I do feel anxiousness. I have that little burning feeling in my stomach with excitement as I do see it happening for me.

Make it a GREAT day :-)

Manny

Way to go TRACY!!!!!!

Sounds like you are well on your way!

Keep rising to the top!

Manny

Thanks for some education here!

As a way to break into the Real Estate industry I reached out to a couple of different real estate agents including the one that sold us our house. My goal was to get experience so I offered myself as an assistant or any need they had that I could help with while gaining experience.

The gentleman who sold me my house when we moved to St. Louis jumped on the thought of me as his assistant as he knows some of my strength's and it would cover his weaknesses.

Though I offered my assistance for free he basically said "NO" way on that. Since I could use some extra income I was very happy about him choosing to pay as things progress with results.

We are in the very early stages but I'm hoping and believing that lining up with him is a HUGE key into my growth in Real Estate Investing. Right now, I'm focused on wholesaling. 

Still learning. So thanks for this thread!

Manny

Welcome Garen!

I'm in the St. Louis area as well. 

I'm always looking to network with others in the industry. 

Make it a great day,

Manny

Thank you for sharing!

Is the equity come in because you are making a cash down payment?

Manny

Here is an article that may help in your search for answers:

http://money.usnews.com/money/blogs/the-smarter-mu...

Here are a couple things that caught my attention:

"By definition, an IRA is a way for people to put future retirement savings to work for them long before they retire. While the traditional IRA offers tax-deferred savings, the Roth IRA offers the potential for tax-free savings, so long as certain requirements are met (check out Internal Revenue Code Section 4975 for disqualified transactions)"

and 

Is there a simple way to get a list of homes that have been foreclosed on in my area?

Any guidance or help would be GREATLY appreciated!

Please and thank you in advance,

Manny

Welcome to the BP forum! There is so much to learn and you have definitely come to the right place.

If you haven't already read this I would definitely prioritize it:

http://biggerpockets.com/real-estate-investing

To your success,

@Jeff Rabinowitz two different lenders. 

The one at 18% was not the 24 hour loan.

There were a bunch of other stipulations but I don't remember them all.

Hi Steven!

I'm in the St. Louis area as well. 

I've recently talked to two investors who do Transactional Funding.

One basically said he charges the highest interest rate at 18% but you have a good deal he has all the people in place to make sure he doesn't lose money on the deal. 

The other would loan a min of 100k but for 24 hours. Basically you had to have a seller and buyer lined up.

Buyer backing out could cause a problem but I don't see them loaning you the money without proof that the buyer is serious.

I do have the guidelines from one of the investors if you would like me to share it message me here and I can email you.

Also... if you would like to meet up for coffee sometime I'm always looking to network with others in the St. Louis area.

Manny