Starting Now !!! - Posted by Yettekov Wilson Jr.

Posted by Yettekov Wilson Jr. on January 10, 2001 at 13:47:22:

Hello Ed, Thanks for getting back to me. I am a new/novice investor. I own a single family home at this time that I have rented out as section 8 with a friend of mine who is also a realtor/investor. I am a UNIX system engineer at this time but want to own multi-families. My credit is good. All old loans have been paid off and the only ones I have now are my house which I got by doing a lease option for 18 month’s and 2 car notes. One my wife is responsible for one of the notes because I had to put the car in my name because her credit was not good. Yes, I will be the sole owner of all future properties I buy. My wife is a real estate agent so I have access to all listings of multi-units through her. At this time we are going through some properties that look promising in the Baltimore/DC area. I am going to use the money I get back from my tax returns this year which will be more than 10,000 dollars as the seed money to spring board me into my future business. My income is over $90,000 dollars a year so I have the ability to save for down payments. I am in this business to setup my retirement. I am not interested in flipping properties. My goal is to buy and hold all my multi’s until my businesses have to be willed to someone. As stated earlier my wife is a realtor but I am also planning to advertise soon in the area papers for multi units to find some owners that are motivated. I am planning to use the comission my wife will get as part of the down payment as well as the rent rollovers and security deposit’s as well. At this time I am looking for the motivated seller and I have come across quite a few that would be willing to work with me. We are going to look at some properties this weekend so I will be putting some under contract soon. I hope this helps you a little more than my first note did. Thanks again.

Starting Now !!! - Posted by Yettekov Wilson Jr.

Posted by Yettekov Wilson Jr. on January 09, 2001 at 08:04:48:

Greetings Ed and company. Now that the new year has turned I am now shifting to high gear with my business. I will be concentrating solely on multi-unit bldg’s. I will be concentrating in the DC / Baltimore areas. I need to know if anyone has a good contact with a lender/lenders that work with investors and multi-unit bldg’s that are 6+ units. I will be putting some contracts on properties in the next weeks so any info would be greatly appreciated. Thanks all.

Re: Starting Now !!! - Posted by Ed Garcia

Posted by Ed Garcia on January 09, 2001 at 10:06:30:


You don’t give us any information about you, your credit, your financial ability (such as down payment and income) or how you plan to make your buys? I’m sorry to say that we need more information.

Ed Garcia

Re: Starting Now !!! - Posted by Yettekov Wilson Jr.

Posted by Yettekov Wilson Jr. on January 10, 2001 at 13:52:56:

Ed, I forgot to mention that I am about to refinance my home. The interest rate is 7.5% and I have been told that I can get it down to 6 to 6.5%. This will also be another source of income for down payment on a property. By the way do you know of anyone that does a 100% loan? I am about to start investigating that as well. Thanks again.