All Forum Posts by: PeTika T.

My biggest barrier is having a mentor. I am a sponge and love to learn. I'll do what's necessary to get started, follow-up on what's needed, then pay it forward to others in need, but I really need to have someone there to guide me so I can learn, espcially with something this costly. Money is also a factor, but I am willing to do what's necessary to be able to use leverage to purchase my first property. In my area alone there are several houses that would make good investments. I went out on a limb and presented a proposal to another investor sitting on two properties that he let go vacant for over 2 years, but he wanted too much for them. One of them is still vacant, but 2 years after my proposal, he has FINALLY fixed up one of them and will rent it out on 7/1. Not sure why he sat on them for so long, but the other house has been vacant for well over 6 years now since it was vacant before the second house mentioned was empty. It's in the same neighborhood as his other house and I would love a mentor to show me how to put together a proposal he won't want to dismiss. Let me know!

...well kinda. I have been "donated" a property that an heir to an estate with no will wants. Specifically, the donors are the sole surviving child and cousin of a deceased party. Three people are on the deed. The survivors want to transfer the deed to me, but I was told they can each only transfer their 33.33% interest in the property. The 3rd person's interest, who is deceased, must still go through probate and be awarded by a judge. Is there another way around this where the survivors can give me the deed? Does anyone have experience or a contact that can help me with this? The home is in a Low B area and I'd love to take it. Any advice is truly appreciated.

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Thank you @Jack Bobeck! So ypu rexommend buying two homes for a total of $100K then getting it financed?

Thank you @Kevin Dureiko.

Greetings BP! I am ready to find my 1st deal and need recommendations for HML's and/or banks that will finance a property that's less than $50K. I can get the 25% from friends and family, but need the rest so I can achieve my goal of plunging into the new year as an official REI. My plans are to buy and hold a SFH and want to purchase within 90 days. Any suggestions?

Awesome job!  

Thanks @Mark Webb...@Robert Rayford I am ready to buy, just have to secure financing.  I have to purchase homes under $50K for now. I just created a list of  sources of $$$ from family and friends that have the means. Now the tough part is convincing them to buy into my investing dreams.  These people are typically not fans of stocks and investing, so they'll take a lot of convincing.  Any suggestions?

@Mark Webb Thanks for the advice.  I appreciate it!

@Mark Webb My goal is to accumulate SFH's under $65K then use a buy and hold strategy. To start, I want to generate $500 in disposable income from my rentals. That's after accounting for vacancy, mortgage, cap expenditures, maintenance, management, etc.