All Forum Posts by: Yannik Cudjoe-Virgil

Hey - Stessa is a pretty clean dashboard

@Yawo Akoussah nice job taking the first step! My advice would be to religiously attend these meetup groups in the area. I am a local in the area as well. Let me know if you need any events to attend 

https://cogocapital.com/lp/proof-of-funds-letter/

@Audrey Oney Quickest POF you will get

 Great! I would definitely try to find a meetup and find someone local an experienced in your area. This will accelerate the learning curve for you?

@Juan Alvarez be very careful with that. That is mortgage fraud

Welcome @Baylen LaRue . great place to start to start. I began learning real estate investing from bigger pockets also. I would start by defining your goals. Do you want to be an active or passive investors? Then from there use bigger pockets to figure out strategies to meet your goals

Hey, The key point in this is you have to double your basis in the property. It has to be "substantial improvement." The basis is based on the improvements percentage on the assessed value. Meaning if the property is assessed at 100k value and the improvements is 70k or 70% and the land is 30k or 30% then you will have to put in $70,001 in improvements for it to be considered. Hope that makes sense. 

@Yawo Akoussah

In my opinion northeast is the best low income area. Also some parts of northwest Baltimore. I would advise studying the zip codes and then searching the home values which will help you get a sense of the better areas. Then take a day and drive around to get familiar. Guarantee that would help

Ryan,

You mentioned you would like to be a full time artist. I would decide whether you would like to be passive or active. Sounds like you want passive income so I would look an rentals to get returns on your capital. You also mentioned growing the 500k and that sounds like an active position and flipping houses can become another job if you have multiple flips. Hope this helps

 Hey - It depends on what other opportunities come up. Does he want to tied up his cash on a long term deal like a rental and not have an opportunity to get into a flip? What is his investment strategy (active or passive)? He can take some and invest in a rental or be a silent money partner in a flip for active income. It all comes down to figuring out his investment strategy of what he wants to do actively or passively and figuring out the risk he is willing to take.