need some additional motivation and help

need some additional motivation and help

hi all,My name is Manolo Ruiz a.k.a manny I'm currently staying with my girlfriend in Waterbury,Connecticut we cant drive around because we don't have a car but we can always catch the bus even though that makes our searching a tad limited. we have a lead on an real estate agent. We have no money nor credit, I'm 22 yrs old, I'm almost done with the book(profit from real estate right now),I'm motivated but at the same time i have butterflies in my stomach. I have taken the first step to becoming part of the family, I'm now looking for some guidance from my more experience family members.Something is telling me that I'm really gonna make it. I'm really anxious and pumped to get started so yea guys any suggestions,advice, and examples that you guys may have in stores me?


Doing business in more than one state

I am very new at this and would like to know if I can do business in more than one state. I live in GA but I travel to CA and FLA quite frequently, can I do business in each state that I visit. Also, since I am incorporated in GA, can I do business in other states and still be covered under the GA corporation.
Thanks for your help,


Hi Eric,

You can do this as so many others in situations similar to yours are having great success in REI. Others on this website invest in other states too. I'm not sure but think you just need to be licensed in the state, town or county.

Best of luck to you in REI.

SPR Property Solutions, LLC

just keep

just keep reading...studying...but get out there and look for houses...Online, around the neighborhood, craigslist...Wherever you can... figure out exit strategy's if you have no money, or credit...your best bet would be to start with assigning contracts...plenty of help on here if you take the time to do some searching...

work on networking...find out about real estate club can google those...I think there is one in Trumbull every other investors there(some just starting, some that have been doing it a long time)

you can learn alot...and the best advice I can give you is to KEEP GOING and NOT TO GIVE UP no matter how hard things may seem to get...which just like anything else, there is always going to be tough times


***Something to Believe In***
"If you want something, GO GET IT...PERIOD" Will Smith
"Obstacles are those frightful things you see when you take your eyes off your goal" Henry Ford
~"Success doesn't come to you...You go to it" Marva Collins~


The book is your road map to get you too your REI goal(s),finish reading it and start again!Start taking action with the information that has pumped you up,Marc hit it on the head!You can always partner with someone that has a ride,Do what ever you have to do to get the ball rolling.

P.S.I think you are going to make it Manny


Invest in yourself!

thats rights

this is good stuff, i cant thank you guys enough.

Get your feet wet

Hello Wileydis_manny
Stop in and talk to a real estate agent tell them about yourself and what you plan on doing. This is difficult for some at first but the more you do it the easier it becomes.
Your first time you may actually get a little discouraged. There are plenty of people that will want to tell you that you can't do it. Don't listen to them but learn fom the experience. Every time you talk to a new agent you will get better at your Pitch. Practice makes perfect.
Remember you need to kiss alot of frogs to find your prince.
The imprtant thing is to take one small step every day.


yes indeed, thank you=

Real Estate Everywhere

Hi Eric,

One of the great things about real estate investing is that there is real estate everywhere. I live in Southern CA and am closing on a house in North Dakota of all places. Here the unemployment rate is high and to buy a home I would need much more than elsewhere in the country. Before I even made an offer on the home, I called a church and spoke to the Bishop asking him for a referral for an honest and experienced contractor. I also looked on Craig's List and found another that I like as well. I've had both give me bids on the repairs needed. I also made sure to leave the inspection clause in the purchase agreement and had the house inspected. I've spoken with the inspector and he has agreed for a small fee to go out and see that the work is being done right and in a timely manner. I will also have him inspect it once the work is done. This takes a bit off my bottom line but the peace and security it gives me makes it worth it.

I've never been to Fargo and never plan on going there. But I have insurance quotes, know what the utilities cost, what the job rate is, RE market is like, and also had a structural engineer take a look and give me his opinion and have a chimney guy going out there today to tell me his opinion on that. I'm amazed at what I can accomplish with my computer and telephone.

What I think is a major misconception in RE Investing is the total cost. At first when I looked at my deal it looked like I would make close to $50,000. But in reality it will be closer to $35,000. Here is what my deal looks like. You can see the detail of information needed to really know your bottom line.

Purchase Price $38,000
Repair Price $25,000
Total financed on my
home equity line of credit $63,000

Monthly pmt interest only $235
Sewage 19
Trash 9
Storm Fee 3
Forestry Fee 3
Mosquito Control 1
Water 53
Insurance 75
Property Tax 133
(this may be adjusted down
as they have a special program
for rehabs)
Gas & Electric 300
Monthly Holding Cost $831

I plan on holding the property for three months to allow for their stronger market time and allow the outside painting to be done in warmer weather

Monthly Holding Cost x3 $2493

So here it is:
Expected Sale Price $110,000
Closing Costs 8,000
Monthly Holding 2,493
Purchase Price 38,000
Repairs 25,000
Income Tax 9,000
Expected Profit
without ever lifting
a hammer or walking
through the door $27,507

Investors out here are making up to $100,000 profit on their rehabs. But since I am new and working in a lower priced area I figure this is a good first deal for me.


"Faith is taking the first step even when you can't see the whole staircase."

~ Martin Luther King, Jr. (1929-1968)

One more thing

You do not have to have a licence to be an investor. If that were the case then every person who buys a house would have to have one. Smiling


"Faith is taking the first step even when you can't see the whole staircase."

~ Martin Luther King, Jr. (1929-1968)

A few more points

Read all documents carefully and ask questions before signing.
Always bid low, since the seller's intentions are to go higher.
You want to look for a fairly good house in a great neighborhood.
Do your due diligence in researching properties.
Think hard money, family money, friend's money when there is no money.

All the best



"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.

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