All Forum Posts by: Rafael Perez

Looking to network with agents, investors, or any other experienced real estate professionals in the Miami, Florida area! I will be taking a vacation trip to Miami from July 22-27 for a festival but I don't want to miss out on the opportunity to network with other like-minded experts in a completely different market that I am use to. I'm currently a university student residing in Omaha, NE. I also work with a few investors here trying to learn and experience as much as possible in real estate before starting my own investing. If anyone has the time and energy to meet with me so I can just pick at their brain, ask questions about their market, and what investing strategies they believe works in that area, I would absolutely appreciate it. Thanks in advance!

Hey BP family hope everyone is having a great summer! I have come to the realization that deal finding, analysis, running numbers, underwriting, etc. is what I want to focus on the most for my current journey in REI. My goal is to purchase my first primary residence that I will house hack within the end of this year or early next year. A local investor that I have been running rehabs for has also presented me an opportunity to partner with as long as I bring the deal. So right now I want to focus all my attention on studying my market, and learning to find good deals. So far what I've thought but not put into action is to go to as many investment opportunity open houses in Omaha to practice my underwriting. I also want to get in contact with local agents to talk about the market and where it's headed. Another method is to study recently sold houses and houses for sale across the city I live in to start price pointing certain areas.

For someone just starting out, what do you believe is the best way to study my market? And, what is the best way for me to analyze and underwrite as many deals as possible so I can grow my confidence when it is time to pull the trigger

Thanks in advance!

@Abigail Hansen hey Abigail that's awesome that you are getting into real estate continue educating yourself! To answer your question about construction experience - yes and no. I am no expert in construction but my family consists of great contractors so I ask them lots of questions constantly. So by just knowing the basics, like how much to budget for cosmetic repairs that should be enough. I suggest either get in contact and build a relationship with a local contractor so you can pick their brain, or find a great trustworthy general contractor in the are you want to invest in to run your rehabs.

@Nick Belsky That's what I was expecting pretty much everybody has been telling me the same thing. I believe my best bet might be to take on a W2 job for at least 6 months. Thanks for the advice especially coming from a lender!

@Rodney T. Yea that's what I believe is the best direction to head into. I'll ask local investors for some referrals so I can figure out what I need to do to get pre-qualified.

@Paul Stamm yea makes sense Paul thanks! I got some referrals for excellent CPA's from local investors so I'm feeling pretty confident about them.

Hey BiggerPockets family! I have multiple income sources coming in (lawn mowing, landscaping jobs, contractor work(through a 10-99), and running a rehab for an investor). Now I'm starting to think I should talk with a CPA. I know finding a great reliable CPA shouldn't be too big of a problem but I was wondering,

what are good questions to ask when interviewing them?

How does the process go when working with one?

Thanks in advance!

I'm not quite sure how the process goes for applying for an FHA loan but I am familiar with the terms. But I also know a conventional loan with a bank can be another route to take for my first primary residence home. I have been making 10-99 income for about 2 months now and I have the money for a down payment as well as construction costs (if I decide not to go with a turnkey) but I know I need 2 years of 10-99 income to qualify for any loans. What route should I take?

Is there a way I can get a conventional loan if I show them proof of funds even though I don't have the required 2 years of 10-99 income? Or should I stick to an FHA loan.

I know this is a really choppy post with multiple questions so I would greatly appreciate any advice. Thanks in advance!

@Matthew Brill Thanks Matthew for all the advice it’s going to help a lot! I talk to my sister about it more into detail of how beneficial this can be and I’ll ask for referals for banks that can get me out of having proof of income.

Hey everyone, I want to start my real estate investing journey by purchasing a primary residence that I will house hack. Within the next 6 months I will have saved enough for purchase price closing costs rehab budget etc, as well as the credit score to secure a FHA loan. But, I don't have 6 months of income from a W2 since I am currently working as a 10-99 for another investor (which I just started a few weeks ago). Plus I will be going to school full time this fall. So, that's what lead to me thinking about co-signing with either my sister or the investor I have been building a relationship with. What do you guys think? Can there be a better strategy to obtain my house hack within this year? Thanks in advance.