All Forum Posts by: Vanessa Ivonne Hernandez

What I like to do is find real estate communities on the meetup app. You can search by location. It could be a good option for you to locate like-minded individuals and professionals no matter where you decide to invest in the country. I'm in Northern NJ and I found 3 groups on there. It's helped keep me immersed and focused on my real estate journey. Give the app a shot, it may help you make solid connections. Good luck!

It's exciting that you're asking. Good luck on your journey brother!

I want to become proficient at understanding these loans. Thanks for the article.

When you're financially ready to make your purchase you'll want to submit your documents to get pre-approved. These documents will include your checking accounts, saving accounts, 401k...any money you make. 

From there you're lender will take a look at how much money you make vs how much money you owe on all your debts, and decide how much money to lend you. Once you know how much you're pre-approved for then you can start house hunting. 

There's more that goes into it and it can be a lot to understand for first time investors. One reason is because the amount you're approved for isn't necessarily the amount you should spend. Who wants to be house rich and cash poor right?

I'm not licensed in your state. I have nothing to sell you. That said, if you want to have a conversation on what building wealth will look like based on your scenario then we can chat more.

Happy Hunting!

What I like to do is find other real estate investors on the meetup app. You can search by interest and location. It could be a good option for you to locate like-minded individuals and professionals no matter where you decide to invest in the country. I'm in Northern NJ and I found 3 groups on there. It's helped keep me immersed and focused on my real estate journey. Give the app a shot, it may help you make solid connections. Good luck!

There is a REIA event I'm going to in April that should have great learning opportunities. I found this group on the meetup app and I've gone to a few of their events before, it was good for me both personally and professionally. If you're interested in something like that then message me and I'll share the event information. Good luck on your journey!

It's pricey over here but we can do it. There are opportunities here to build wealth. 

We need to be able to find hidden value or take on a bit of a renovation to see a return on our investment. I'm from Northern NJ but I'm also looking to invest from a distance in OH too. Do you have specific markets in mind for the duplex?

Hi Mason, 

There's a few red flags here. The first being that the asking price is $429,900 and the estimated rental income (whether you owner occupy or not) does not seem to justify the price tag. Not to say this can't be a deal - every property has a price, but unless there's hidden value that isn't posted here, the numbers don't add up.

Don't worry though, there is a way to make real estate work for you! We just need not see what's going to be the BEST strategy for you. Like for example, I'd want to know what's your ultimate goal when it comes to your portfolio and then build a play to meet that need.

Good luck on your way to building wealth!

Awesome welcome. Here are some questions you can ask when shopping for a lender:

1. What are your general lending guidelines? Do you have any overlays?

2. Do you finance deals like mine in my area?

3. How many loans like mine have you closed in the last 90 days? FHA, 203k, refi, VA, 2nd mortgage, HELOC, vacation homes?

4. What are your loan products and programs?

5. I have a unique situation (e.g entrepreneurship, student loans), will that be an issue? If so, how can we address it?

6. Do you require cash reserves? If so, how much?

7. What hours do you work? Do you work on weekends?

8. What is your preferred method of communication? (Office number, cell, text, regular email, secured email, in-person)

9. What's today's interest rate? How much is it to lock that rate?

10. Do you own investment properties?

I like to take note of how they respond when I ask questions like these. Are they problem focused or solution oriented? Do they see opportunities within your area or do they use generic responses like "the market is crazy"?

Good luck brother!