All Forum Posts by: Paul DoCampo

Thank you everyone!

@Victoria Winters

Do I have plans to start a RE business? Not really but I guess that depends on the definition of business. I currently don't have plans (or desire) to have employees under me. However will I attach a LLC title when I start accumulating properties? Probably. I have a full time job right that I enjoy. Im not too sure if I will or will not quit it. If I do that will be a decade in the future

I'm finding this type of financing very interesting, however I have a few questions.

How do you find these type of deals?

When you are looking for properties, are you looking specifically for seller financing, or do you typically find them on accident?

And for the Inland Empire investors, do you encounter a lot of seller financing here in the IE? 

Hi, My name is Paul doCampo, and I currently live in Chino, CA. I am brand new to RE investing, however I have been motivated motivated and extremely excited about starting a REI portfolio. I have been reading on the topic in my free time, and watching podcast when I can, and I have been enjoying learning a lot on this, and looking forward to learning much much more.

My general goals, and reasons to get into Real Estate, is to gain a big enough portfolio that generates passive income for my family and therefore gain financial freedom.  

My specific goals: My short time goals is to place my house (was my primary residence for two years) as a rental, and I buy a another income property this year (perhaps another SFR because I might not be able to fund the 25% down payment on a multi-family).

My other specific goal to obtain $8,000 of passive income a month in 5 years, using a combination of SFR and Multi family units.

@Jay Hinrichs

Thank you for the advice Jay, I will stay away from these people.

@Jonathan Casillas, Thank you for the quick reply. I had no idea that loan fraud was that serious

When I asked him if that was loan fraud, he paused and said," Yes, but there are loop holes around it, like staying in the house for only six months."...

As for the down payment. He told me that anytime someone is purchasing a multi-family unit, it has to be 25% down. But I haven't seen that said anywhere in the biggerpockets forum

I am a newby to real estate investing. However I am trying to get started, and I began talking with a real estate agent about finding some cash flow rental properties, specifically multi family units. I just had a conference call with a him and a direct lender he knows. And we got to discussing financing. The lender kind of hinted that I should state that I will be an owner occupier even though I told him I will not be. And he also asks for 25% down payment. This sounds kind of fishy too me. If I were to state I am an owner occupier, why would he want 25% down?

thank you James Wise,

I don't have my eye on a specific type yet. I just want to know if there are better cash Flow properties out there right now, than renting out my primary residence

@Michael Noto

Interesting, thank you for your comment. I think im just going to go for it. I already asked him to fill in my first rental. But I changed my mind and decided to sell it and look for a better cash flow property. He is a family friend, and I know him personally, so he is not a person to swindle me.

If you know or meet someone who have been full-time as a real estate agent and property manager with his own business for 20 years+, would you be more inclined to believe that he would know how to find, analyze, and buy INVEST/RENTAL properties, rather than just a primary residence for your everyday Joe/Jill

I understand that some agents are more experienced/suited than others in the field of investing. I know one who is the person I explain above, just not sure if he KNOWS how to buy invest property. He can tell me all day that he knows, but does he really KNOW.

Also, Im a complete newb here.

Thank you everyone.

@DL Martin , Would you NOT recommend the land lord be that lawn guy? I have an 8X10 shed with all my gardening tools that I was thinking of keeping there with a pad lock.