All Forum Posts by: Nichole Luevano

It is tough without income. Consider getting RE license and joining brokerage that will mentor you. Good mentor in your case is probably more important than good pay.

When you have the resources and contacts, use FHA high LTV financing to purchase an off market discounted detached duplex that is in need of rehab (value add) to house hack. Live in the more thrashed unit and rehab in place. Once rehab is complete, rent the newly rehabbed unit at top of market and move into the 2nd unit. Repeat with 2nd unit but before renting the unit, refinance the property. Ideally with the value add and market appreciation, you can extract all of your investment.

You can repeat this process as fast as you can. If you started this 10 years ago and did one a year, you likely would habe over 8 digits worth of property with virtually nothing invested in the properties. I did not even get one a year and obtained the 8 digit property value with only one property not having all our investment extracted. No one knows how the next 10 years will perform, but the last 10 years shows what is possible.

Good luck

Thank you so much for your response! I greatly appreciate your advice and wise words. I will definitely use this information to my advantage. Appreciate it!

0 Votes

San Diego, California

Quote from @Evan Manship:

@Tom Camarda

Everything is state specific though you do pay dues to a national board which I find very ironic.

Nonetheless, getting my license was the best decision I've ever made. I am 24, work full-time, and invest part-time. Having my license helps immensely with my goal of getting those two situations switched.

Hi Evan. It's been 7 years but I was curious as to what your investment is looking like now if that is not too much to ask. I saw you said you invest part-time and have a full-time job.

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Hello, I am very new to all of this and I would really appreciate any help I can take from anyone. I have recently become very interested in real estate/ buying properties & renting them out. That is my goal/dream job and I plan on pursuing this as my career for life. I am 21 years old with very little knowledge of how anything related to this career works. I really want to get started now but I don't exactly know where, how, and the best way to do so. As of now, I am saving up money from every paycheck I receive from my minimum wage job and trying to educate myself with what I need to know to get closer to accomplishing my goal of buying & selling properties. I do not have a credit card yet, but plan on opening up an account this week so I can start building credit because I just learned that is very important. I know this career is way more complex than the thought of just wanting to "simply" buy and rent houses, but I am very determined and aware that getting to where I want to be will take time and effort. I am willing to put in that work I just would really appreciate any advice, tips, steps on how to get there. Side note I do live in San Diego, California where prices for houses are insanely high as you all know. So I know that doesn't help but any advice will do! I need to be pointed in the right direction/path. Thank you so much for reading this, I hope to hear from anyone!

0 Votes

San Diego, California

All Forum Posts by: Nichole Luevano

Nichole Luevano has started 1 posts and replied 3 times.

Post: Twenty one and Starting

Post: Real estate license

Post: Twenty one and Starting