Orlando Paz

Real Estate Goals: I am currently taking baby steps towards my real estate goals. Like many "newbies", my primary challenges are lack of funds, and poor credit. Saving money is a challenge in itself, since I have many personal matters that affect my ability to save. With my credit, I am taking several steps to help bring my score up. FHA requires a minimal score of 580. I would like to get my score in the mid 600's, so I could at least qualify for the FHA loan, and perhaps other conventional loans. Another goal is to build my network, and hopefully find someone who will help to guide me in the right direction. Having such a mentor is extremely important, but also very hard to find. Even though I would prefer to get my finances and credit score in order, I am looking into alternate ways of jumping into the “game”. Three possible solutions would be through partnership, private money, or hard money. The use of hard money is not my preferred method, but it’s certainly an option. Initially, I am looking to build my funds and establish myself through fix and flips. I am looking into making my very first fix and flip, a live-in flip. I may even consider it for the second flip. Upon gaining experience and momentum, I hope to start investing in mobile homes, and notes. I am also intrigued by mobile home parks. The thought of renting the lots, without having to deal with tenants appeals to me. I’ve never been a landlord, but quite honestly have little interest in going that route. I see fix and flips as a way of potentially getting the quick funds needed to improve my finances, and pursue my note investment interests. Once I am stable with my funds and credit, I’m not sure that I would want to continue with fix and flips, if I have a reasonable stream of cash flow from my other investments. I never dismiss the possibilities that my path may take a different route, but these are my current goals. Currently Seeking: - A local mentor (Lease Options, Mobile Homes, Notes, Rehabbers) - Experienced Partners - Private lenders - Real Estate agents that are also investors - Local hard money lenders