Missouri payday loan
The first thing I will say actually it will be, make a list of… Just take your phone right now and make a list of all your contacts. And I bet anything that you will find at least one or two people that have money that maybe or maybe not necessarily invest in… Know about real estate, but they have capital.
Will you be interested in investing in real estate? Because you can print that report and I send them to that. At that time, I did have money but they have more money than me and they want to put it to work. And I found very good deal because of the piece of land that we actually got next to it. We bought the house cash and we are splitting all the profits three ways. If you do good in the tennis business, you can pay us back or we can refinance the property. And then for your partnership agreement, is this something that is going to continue on? Then we can talk about that later if you guys want. Because everybody is good when everything goes well, but what about when something happens with the property? But everything is set in stone just in case missouri payday loan something happens. Tony:One thing I want to comment on really quick, Andres. Just going back to something you mentioned earlier. But Ashley and I have talked about this before is that people invest with folks that they know they like, and they trust.
What you just same day cash advance said Tony, is the best way to know people that invest how short term loans can help in real estate. But the little that I post, it has give me so much good results. What kind of systems you have in place to do this efficiently? Say anything with social media, I have a crew that obviously they are instant approval payday loans not on a payroll. How about if I charge you a fee for renovating, I give you a budget and then we just do it and I find you a good deal? And obviously I do have knowledge of renovations and all that.
But I think because you take… In real estate, you got to take risks. And I think a lot of people are suffering right now of analysis paralysis.
And I said to…The only thing that I have to tell them is, listen, if you have analysis paralysis right now, just think about working 9:00 to 5:00. Just think about working on weekends, being away from your family.
Make it the same for yourself, have the same rules that the bank does and stick with it and follow with it. So just tell us a little bit more about your portfolio.
I sold it, I made around 12,000 just because the tenant just pay off the mortgage. I have a duplex, I did another BRRRR with none of my money. It was a tennis friend that I have that work with me. Tony got his fiance involved too with real estate doing short term rentals. Can you explain how the equity pay down accounts for that 12,000?
Just explain that to everyone, how you came to that 12,000 that you made for that year. So I bought the property for 90,000, in 2014, September.
And then I lived there for two years and then I rent it out. So the cashflow, when I rented out, it was 150 because I have to pay for HOA fees. So my 12,000 came from then paying all my mortgage at that time. So at the end when I sold that property, I sold it for the same price that I personal loan deals bought it. But then when I pay my realtor and all the closing costs, I got a check for 12,000. So you purchased the property, you lived there for free for a while. But manipulate real estate to make it to your advantage or to that appreciation play. There was no appreciation, but somehow you still got it because your tenants are paying down the mortgage and you get that equity built into the property. I love that was how the different ways that you benefited off of that property. Living free, the cash flow, and then the equity pay down, getting that check when you sold it for the same price you bought it missouri payday loan for.
The most valuable person that has really helped you grow your real estate portfolio. And I will say on my team, I will say Melissa, my realtor.
She is also my friend and actually my tennis client too, but mostly my friend. She sells half a million properties here in Connecticut. So the first question that comes to mind is, how do you find payday loans montgomery al a rockstar realtor as a new investor? Not necessarily ask for people that have a property, like a primary residence, but people that have investing. So I will say ask for referrals and go to BP and just find realtors there. I heard a few people saying that you go to Zillow and whoever has the most stars is the wrong person to call. Number one, because these people pretty much pay for that advertising and they nag their clients to get stars and all that.
So I will say, look for the person that really hungry and really wants to work with you. And if you guys are looking for an agent and need some help finding one in your area, BiggerPockets has a great resource for that, biggerpockets. Andres:I want to also reflecting off what I was thinking on the podcast to every new investor, every rookie here that did not get into the trap of these gurus, because I did. I had a mentor for a weekend and she was focused more on the marketing side. And I went to a seminar in Virginia and it was information that is out there. So I will highly recommend to people do not get into that trap because even if you bad a bad deal- Ashley:I want to know how you got into that trap? How can someone pick out which one is actually worthwhile or not? And I think a lot of people are thinking the same thing. So tell us, how did you fall into that trap and what happened next?
Even if you buy a bad deal for 22,000, you get more education in those seminars. I think missouri payday loan it was something that came into my Instagram or Facebook about free webinar. And then if you come to the three day at the end, they sell you that package. And literally, nobody has washed my brain until I met them. So maybe later on in life, if you want a personal coach or somebody like that, then yes.
So I would just highly recommend to the best education you can get are books and podcasts.
I found out that the person who was leading the course say she was an investor and all that. The title guru, people throw that around a lot, man. And for those of you that want to maybe get your question featured on the show, just give us a call at eight, eight, eight, five, rookie to leave a voicemail and we might use it on the next show. And what should I do to prepare for that, what books to read? Just anything that would help me see where I want to go with this. I will say I will start reading, How to Invest in Real Estate.
I will say, try to get all the books like Landlording. So I think I will start there reading that book too. I would also say just maybe try and find a way to start doing something real estate related. Can you go work for some general contractor and sweep up personal loans oklahoma the job?
Is there something that you can do in your free time to get you closer to the action of real estate? But one thing that you can do is realtors are going to go everywhere. Because I think every new investor should create their plan. And now I have a small group where I can educate other people. What do you charge him by the guaranteed payday loan approval room to live in a house? And then when you move out, maybe you stay in the area or you go instant loans direct somewhere else. But then you just continue to keep it as a student rental.
But if you live there for one year, you can get the FHA. Going back to missouri payday loan the question that person asked, if I were that person I would definitely… Just like you said Ashley.