Member
Joined: 2014-10-06
Points: 31
OfflineName:
Christopher Hayes
Location:
Columbus, Ohio
About Me:
I have a passion for real estate and want to be in the business for the rest of my life. I'm 47 now and I want to have a house under my belt before I turn 48. I'm new but I will learn how to do this and be successful at it. I just need some help getting started. I could bird dog if needed. I really want to find some houses with an investor, fix it up and sell it. If you could give me a shot, you will not be disappointed. I'm about getting things done and doing things good and making some money. Thank You
Interests:
Real estate, sports, being happy and active.
Congrats on Your Goal
Hey Buddy,
My name is Miguel Resendez. I'm 40 years old and started with my first rental property in 2007 when I was 33. The economy and the real estate cycle were in my favor. I purchased a 5plex of efficiencies for 25K using a credit card. I wouldnt recommend it but it worked for me. I bought a terrible old building but it was solid masonry block built in the 1930's. I had the worst tenants when I bought it. I had a hooker, a crackhead, a pothead and an old man that pretended to be a bible thumper but later I learned that he would do crack with the hookers and I found the needles in his apartment after I kicked him out. The place was a mess and the tenants were horrible but it was the worst building on the block. Mine was the problem when I bought it because the owner had passed away and her deadbeat son had taken over the management of it. He invited all his friends to move in without leases or even basic information. This may sound like a horror story but it is actually a very good story with a happy ending. I wouldnt trade the experience I got with that building from day one and the speed with which I learned everything there is to learn in the rental business. The good thing was that my initial investment was so small that I could carry the note easily with my job wages and as I learned I quickly turned that building around. After about 6 months to evict everyone and make repairs I secured the property with a perimeter fence and security lights. I hired a good property manager and that place has put between 500-700 of net income in my pocket ever since. In my opinion, you make your money in the small stuff. Today, I still own that building as well as 24 properties including 5 homes in Florida. I have also bought and sold homes on a wraparound mortgage and sold them owner financed. I make money on the price difference and the interest rate spread. I would encourage you to figure out what kind of risk you can handle and dive in. You will learn everything you need to know along the way. Do some reading and studying beforehand and analyze your investment but go for it. I have an opportunity you might be interested in that could earn you extra cash.
MIguel Resendez
ezrent2007@****