New, My Situation.
Hello,
I love this site! I have been looking for a site like this for a LONG time.
I guess I will describe my situation and see how I can be of use to this site.
I paid retail for a SFH and a condo. Both rented (sfh-18 mos; condo 9 mos.), making about $10/month. total.
I am now looking to execute many scenarios:
1-buy distressed, fix, rent
2-build and rent
3- 1-2year buy, hold/rent, sell.
This morning I am driving by a new foreclosure condo near me.
I also need to find a CPA who specializes in real estate LLC's or corporations. (Also, to form an entity for my "career"
. I also am almost to the point where I can start making offers (but I need a template to start with, I think).
I signed in for the local REI (DC). I have some investors that are watching me and trusting me, I am educating them along the way. I have some questions like "What is the best way to borrow 700k from a bank for 1 yr, to minimize monthly expense?" Interest-only 2 yr ARM?
Otherwise I am looking for ways I can help others and get helped.
Any thoughts (this post is my first step)?
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[ Edited by Cliffrock on Date 02/13/2004 ]
Well, you can most definately find help here, however I'm a little unclear as to what your question is so I cannot give you an answer. Could you please rephrase your question? Are you asking what the best way to get started is?
Ryan J. Schnabel
I guess I want to know what people find most useful on this board. Like local networking, deal exchanging, q&a...
but now I am not sure exactly what I was asking I have looked around a lot more, I think I get the gist of a site like this.
Thanks for requesting the clarification.
Be careful not to post info that might be considered agains TCI rules etc. Make sure you network via PM etc. If you have property leads post them in the appropriate section not on the forums. The moderators on TCI take their job seriously and I have seen too many people get in trouble because they thought the networking got done on the boards. I have had success by PMing investors in the area and talking with them on the phone. Really you are already doing the best thing as far as networking goes which is to go to a local CREI club meeting. PM me if I can be of any help. I go to several clubs in DC and NoVA. Good luck.
rara avis,
Veronica
Carpe Diem
TCI seems anti-networking in the way the rules are structured and how the PM interface works.
Great content and lots of very active investors so high quality. Just very strong rules about what is 'OK' to post publically.
John