All Forum Posts by: Torrey Wolbert

Hello everyone, I’m curious as to what would be a good next step for me. I’ve been a Union Carpenter for the last 6 years and I’m ready to advance my knowledge and skills into the next level (I don’t want to be a contractor) I want to get to know the ins and outs of being a investor. Should I do wholesaling or become a Real Estate agent to emerge myself deeper into the RE world?

I have about 10k in savings to invest. I'm brand new to real estate investing, I've started with the basics of paying down my debt and saving the difference. I want to invest in Oregon/Washington SFH. The market is crazy right now but I know that's not a real excuse not to invest. Where can I do to find mentors?

I’ve been reading, listening to podcast and working hard to build up some capital. I think my next step is to find someone who’s ahead of me to get this journey going

@Steven Wilson I work for the Union Carpenters. There’s a lot of grey areas when it comes to Union construction. I can say I went on vacation for 2 weeks during that layoff but I still work in the union

I just lost a deal due to a COVID layoff recently, I was two weeks out from closing and had all my tenants lined up (house hack) and it was going to cash flow $400 a month! I’ve been back to work for a few months now and I’m back to square 1.5 in the process. I’m pending on a home right now in a high appreciation neighborhood with a lot of potential to become a really nice flip. My problem is I won’t be cash flowing on the house until I renovate it..

My options are to move in and pay around $500 towards the mortgage every month out of pocket and to pay for basic repairs on top of some renovations or I can move in with my friend to save money wait for things to get more stable and potentially miss out on record low interest rates.

@Marlen Weber Thank you!

@Annie Johnson Thank you!

@Jon Schwartz Thank you!

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $430,000

It’s a multigenerational home with 6 beds and 4baths. I’m renting out every single room and cash flowing $400 every month! While building appreciation and equity!

What made you interested in investing in this type of deal?

I love the concept of being able to live rent/mortgage free while my investment is gaining value overtime. I’m also providing cheap housing in a expensive market. It’s a win-win-win situation.

How did you find this deal and how did you negotiate it?

I found it through Zillow and negotiated it over a holiday weekend because I knew it’d be less competitive.

How did you finance this deal?

FHA loan

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My Realtor and lender are amazing and really professional people! I definitely recommend them.