All Forum Posts by: Mehran K.

Big welcome to the site @James McConoughey , thanks for introducing yourself to everyone! It's really awesome that you're even considering these things at 20 years old. I certainly wasn't at that age :) The book Anson mentioned above is an AWESOME book that will speak to your exact situation. A lot of people try wholesaling to start, where little funds are available. 

Keep in mind it's a good time to nurture your credit score as well. That's going to help you a lot in the future.

See you around the forums!

Welcome to BiggerPockets @Jarrett Schaef , thanks so much for introducing yourself to the community! There are plenty of people with more cards stacked against them that have been able to get their foot into real estate investing. Start by living within your means so you can save up funds to invest with. You can do this while you're in your education phase. That's what I did!

You might try the Find Members feature to connect with those nearby you! You can also setup Keyword Alerts for terms such as "Wichita" and "Kansas".

See you around the site!

Definitely @Bryce Till !

@Brie Schmidt Yeah Dawn was telling me about you two meeting up, that's awesome! I wish that you are successful in your new partnership as well.

@Tony Cavalli NP, glad I can get you all jazzed up lol! 

@Ben Leybovich The more I learn from more seasoned investors like you, the easier it is to spot and avoid the stumbling blocks! Thanks Ben

@Dawn Anastasi Darn, I never got to see the mohawk, you have all the fun :)

@Ramon Jenkins Well deserved based on performance!

@Sean Moen Thanks so much for the kind words. The past few months have been a bit hectic with my full-time job and everything else, but it's been worth it!

Hey all! Just wanted to share a quick success update that resulted, in large part, from my being a guest on the BP Podcast. Like I’m sure every guest has experienced, I received TONS of emails & PM’s after the show. I received many thank you and appreciation emails, questions etc. I also received quite a few inquiries from people looking to partner up on deals.

I was a bit overwhelmed and surprised by the amount of these inquiries and decided to take a stab at a new type of business model to see how it worked out. I started 5 new partnerships with different investors (4 as cash/credit partners, 1 as a credit partner) to make purchases together in the market I’m already investing in, Milwaukee.

4 of my new partners have been actively educating themselves about REI, but just hadn't pulled the trigger yet. They had yet to take the leap and make their first deal for numerous reasons. I think one of the biggest benefits to them in this arrangement was to have a guiding hand throughout the whole process (aside from the great buy & hold deals we picked up :) ). They've been working closely with my team and I on every decision and have been involved/learning in the whole process. It's been awesome!

As of today, of the 5 partnerships:

• 3 have closed, completed the rehab and have tenants in the properties already.
• 1 closed on a property in December that was already tenant-occupied. We've collected the January rent and things are looking good!
• 1 just closed yesterday and the light rehab is beginning already. We aim to have it rented out either Mid-February or by March 1st.

** All of these deals met our buying criteria. One fell short of our minimum ROI/CoCr of 20% though. It ended up requiring more rehab than initially expected AND we were only able to secure a 10 year mortgage instead of a 30 year mortgage (reducing cash flow).

** All partners have expressed they want to move on a second deal. Some now and some soon when the timing is right for them.

Observations/Lessons Learned/Reflections:

• Helping other people take their baby steps into real estate investing, and get a good return on their money, is such a great feeling.
• I underestimated the amount of time/energy it would take to guide 4 or 5 people, somewhat simultaneously through the whole process (financing, acquisition, education, bookkeeping, LLC, etc.). Now that the groundwork is laid, #2 for everyone should be much smoother!
• (**Not the tenant listed above) Be wary of a holdover tenant whose license plate reads something like “MSQUEEN” :)
• My business partner and team on the ground is awesome and none of this would be happening without their help.Thanks @Dawn Anastasi & @Ramon Jenkins 

It feels good to be able to provide value for people based on my experiences and things I've learned here on the site. I highly suggest trying to get on the podcast to share your story! Great things can happen for you and the people you come in contact with because of the show. Thanks @Brandon Turner and @Joshua Dorkin !

Awesome Amber. If you ever have any questions, don't hesitate to ask!

Welcome to the site @Max Pakbaz, thanks for the introduction. Hope you like what you're seeing around the site :)

Don't forget to put up a profile picture when you get the chance! See you around.

Welcome to BiggerPockets @Terrell Way , thanks so much for introducing yourself to the community! I find that time management is real important when investing while working full time, remember that!

If you're wholesaling, you'll most likely be selling to flippers. If you're flipping, you'll most likely need to know about flipping :) I think this book will give you a good idea on what to look for and what others are looking for when evaluating deals. Hope this helps:

The Book On Flipping Houses

See you around the site!

Welcome to BiggerPockets @Nicole Carter , thanks so much for introducing yourself to the community! Keep at it and I'm sure things will begin to materialize. It's good that you're sticking to you're criteria and know what the max you can offer is. Others have been in your shoes, I hope you can ride it out! 

See you around the site!

Welcome to BiggerPockets @Wayne Tam , thanks so much for introducing yourself to the community! Good luck with your ventures in the AZ market :) Hope you find what you're looking for there.

You may want to make a post looking for local recommendations here: Local Real Estate Networking & Recommendations.

Please note that if looking for funding/lenders, those posts must be in the BP Marketplace

See you around the site!