All Forum Posts by: Nicole Graves

@Connie Keslar and @David Greene

Thank you both for your time and encouragement!  I'm feeling more confident in taking the leap of faith to get started, while keeping fear in proper perspective. :) Connie-I have the book Rich Dad Poor Dad on hold at my local library and am anxiously waiting to receive the call that it is ready for pick up! I keep hearing great things about it.

   I just tuned into the BP webinar this evening as well and am going to try and 'take the challenge' to analyze 3-4 deals a day and put in an offer on 10% of the analyzed deals a month. Thanks again for the positivity! Wish you both well.

Gina,

This sounds great. Do you know if they work outside of the VA Beach area in the capital of VA?

Nicole,

I'm not exactly sure of the answer to your question as I recently opened an LLC with two members as well. However, I was able to find answers to my initial questions dealing with taxes for this first year with an accountant at 1-800-Accountant. The accountant was very knowledgable and even double checked her advice/responses with a lawyer who worked on her team to make sure everything was structured properly and in compliance for my state. Let me know if you'd like the name of the accountant. I'd be happy to forward you their info. Good luck!

Hope all goes well!

Hello,

   I am new in real estate investing and am working towards finding my first deal as well.  At this point, I am still researching real estate investing and trying to make sure that I understand exactly what I am taking on.  I will admit that one thing that is holding me back from actually starting is fear.  I think I'm fearful of making mistakes that could be costly.    Does anyone have any encouraging stories of hurdles they faced and overcame to successfully close their first deal?  I know I will learn along the way, but it is slightly overwhelming to think of venturing into something 'brand' new to me trying to get as much right as possible.  It's exciting at the same time to think of the reward for the hard work!

Roland-

Thanks for the information and adding the needed considerations to factor in when making an offer.  I recently found the BiggerPockets Rehab calculator and that has been helpful in assisting me to figure in other costs when putting together a deal. Thank again for your positivity and encouragement on this post.

Welcome to BP, Sam.  I am new to BP as well and just starting out in real estate investing.  I am looking to also buy properties, however am trying to network with other buyers who may be interested in purchasing properties from me that I am not looking to keep long term or use as rentals.  I'd be happy to speak with you via email if you'd like.  I'm from Richmond and have some insight on great school districts to purchase in as well as areas with more land value. 

Again, welcome to BP!

What percentage would you recommend? Would 40-60 percent minus repairs be valid? For example a home is in okay condition and the ARV is $100,000. Using the sixty percent model the offer would be $60,000 minus about $6,000 for repairs thus the offer would be about $54,000 to the seller and about $64,000 to the buyer? Is that right? I'm also trying to work on offers.