All Forum Posts by: Aidan McGee

@Ebony Brown

I am in the beginning stages of REI, as well. I started with reading books like Rich Dad Poor Dad, How to Invest in Real Estate (beginners guide), and listening to BiggerPockets podcasts. From there I have been putting a large portion of my paycheck away for future investments. I also recommend joining your local REI meetup, there are tons of people you can learn from! The route I am going to take to start, and many others recommend is house hacking. You can do this with a single family residence or a small multifamily. You have already made a big step by joining BiggerPockets, so congrats and good luck ok the journey!

@Marcus Auerbach

Yeah that would make sense. Got some of that information out of a podcast on BiggerPockets from 2014.

Another good location for investing in the Midwest is Milwaukee. There are a ton of properties for sale at a low price point. There are two major universities, so there are many students looking for housing. I would recommend doing a lot of research on the location, as there are many areas that are what some would call "warzones." I have seen many forum posts about Milwaukee being great for cashflow, with some investors seeing rents at 2-4% of the purchase price. Which absolutely crushes the 1% rule!

Hey guys!

I have been doing tons of research, but one topic I haven’t been able to find a lot of information about is renovations funding. My question to you guys is, how do you fund you renovations? Is it tied into your loan? Do you go into the deal with excess cash for it? Would love to hear what process you chose!

Thanks,

Aidan McGee

@Nicholas Sheridan, Jr.

Great job! Looks like an awesome deal.

@Joe Villeneuve

Helps me understand my market.

@Josiah Patrick Zebarth

Like many other people, what drives me is providing a better future for my family. Growing up I watched my parents work their tails off as a police officer and special ed teacher. They both excelled at their jobs and made decent money, but after paying the bills never really had much to have fun with. I know how much they would love to travel and take family trips, but their jobs restricted them from that.

I hope to be financially free so that a job is never restraining me from the things I want to do with my family. I was raised well and my parents did everything they could to give me a great childhood, but I just wish we could’ve experience more things as a family. So yes, I would say family is what keeps me motivated and eager to get to work in the morning!

@Michael P.

Haha. Yes, there are so many other factors that must be accounted for. I would say the 1% or 2% rule could help you determine whether or not to get into the deeper analysis.

@Joe Villeneuve

I will not be deeply analyzing them as if I was actually going to purchase. I will be copying and pasting the numbers given off of websites like Zillow and realtor, and plugging them into the rental calculator. It won’t be exact numbers, but should help me practice. Did about 5 in 30 minutes last night, so definitely achievable.

Hey BiggerPockets!

My personal goal for the next month is to analyze 100 deals, using the BiggerPockets rental calculator. I may not be great at it at first, but as the month goes on I should get a lot better. If any of you would like help analyzing a deal send it my way! I thought if I was going to do it, I might as well help you guys out in the process! Feel free to send me as many as you would like via direct message or leave a response!

Take care,

Aidan McGee