All Forum Posts by: Ricardo Cortes

I think you are in a brilliant position to invest.

The only think i can suggest is where to start, I was recently at my local REIA and one of the vendors seemed particular interesting. Though i don't have an IRA, this seemed like a good option for those who did have an IRA.

Quest IRA - keep in mind they will help you manage your funds, though they will not show you how to invest in real estate.

Originally posted by @Sarah Ziehr:

If they are facing foreclosure, then they can't make the payments- what makes you think they will pay you back?? 

 I dont think @stephen oaks is looking to get paid back from the seller/owner, he may be looking at 'subject to' transaction. Depending on how much the seller owes, it may be all he needs to pay to own the home. Say the family owes 40K on the mortgage, Stephen can save the owner from foreclosure by paying the 40K owed, and the deed is signed over to Stephen. Stephen just bought a house for 40K. From here Stephen can re-sell  for profit,  or for cash flow by making arrangements with the current residents.

Please correct me if im wrong, any one!

Originally posted by @Ryder Meehan:

@Ned Carey Funny, why would they go to the trouble and expense to mail you a letter if they wouldn't even bother to answer your call? smh - maybe if you leave a voicemail to the effect of "*sniffle* please make this mortgage nightmare end - I just want out"

 Thats a good way to get a call back.

I think you best listening to @James Wise

100K in your pocket it is a brilliant way to begin your REI venture. Though i would strongly advise to read the ULTIMATE BEGINNERS GUIDE, it is an easy fast read, and FREE (PDF). There is one section in particular, which really pertains to you. If you read it you'll know right away what i am talking about. Some education is better then non.

I hope this helps

Hello, Wholesaling is not a passive income route, Wholesaling I would say is a strategy one would use to build Capitol, to learn how to analyze a deal, cost of repairs,ARV, negotiating skills, marketing skills, learning the paper work, learning exit strategies. It's good strategy to start in my mind, do enough deals, save enough money and potentially acquire your first rental.

I am with @Rivers Plowden, read read read, reading is the key. Educate your noodle. I first read the Ultimate Beginners Guide to Real Estate Investing, form there i made my decision. Now i am reading as much as i can about my goal. Also join the webinars held every week or so, those are free. Free information! 

I would also suggest, once you've done a bit of reading, reach out to experienced locals, from your reading come up with question, and ask them.

I hope this helps

Hey Mathew,
  What are some the tools that you used to help you make this 'deal analyzer'?

Thanks for the insight, i am from California,and i do enjoy the cost of living, No State-Income Tax of Texas.

Hello BP,

I am starting out in Real Estate, i attended the last Webinar , "How to make 1mil in 10 yrs or less".  I quite enjoyed the webinar, it help me understand the process of acquisition and renting. 

I want to know how to analyze a deal, 'RUN the NUMBERS', i know we have the tool that does it for us, but i would like to run the numbers myself, that way i get a better understanding of analyzing a deal.

Can anyone suggest a work-sheet, forum post, video or 3rd party site that can give me a step by step in running the number?

thanks

Try them, 

http://www.meetup.com/Dallas-Real-Estate-Investing...

I am looking to do the same, i am unsure how often they meet-up. But i am going to give them a try.