All Forum Posts by: Jacob Allen

@Daphne Williams I'm in almost the exact same boat, I'm waiting until this fall to invest my money because I'm currently deployed but I just wanted to comment here to bring more attention to this post!

@Jason Burr Thanks for the support!  I appreciate you sharing the numbers with me, it sounds like you guys are saving a lot of money by doing it yourselves!

For the first investment property I pick up I'm looking to get one that needs some work, and then do all the work myself so I can get a really hands-on understanding of how it all works.  My thought process on this is that then on the second property I'll get a contractor to do the work, but I'll have a much better idea of what goes into it and what the contractor will be doing so I can manage the construction better.  Then as I progress and have practiced managing contractors and tenants, and I've accumulated a decent portfolio, I'll consider hiring a property manager once I have the experience of a property manager so I know what to check for in my property manager.

From an experienced investor to a newbie, does this plan seem feasible and do you have any recommendations on it?

@Jason Burr thanks for the help!  I appreciate someone able to talk numbers and give some insight into what they are doing in the same area.  Now I've just got to get through this deployment and get back stateside and get my investing started!

One follow-up question for you, how much does it typically run you to re-wire and re-plumb the houses?

Wish I could attend!  Hopefully I'll be able to start joining y'all in the fall!

@Travis Fowles Welcome to BiggerPockets!  The community is very helpful so don't hesitate to ask for help in the forums!

@Daniel F Chernati I was originally in the Atlanta area but had to move due to work recently to Greenville so I'm still learning the market and planning to make my first purchase this fall.  I wish I could get in on a small multi-family like you've done but we'll see what's on the market this fall!

Thank you for the clarification on the escalating clause!  I'm still learning a fair bit as you can see.  Wishing you the best for your future!

-Jacob

@Daniel F Chernati I'm a newbie here looking to get started in the Greenville, SC area so i love to see posts like this! Vould you explain to me what the escalating clause is and how it works? Congratulations on the property, it sounds like a home run with that much cash flow!

@Devlin Roland Welcome to Biggerpockets!  Keep us updated with how your first investment property goes!  Wishing you the best!

@Scott Duerk I'm also interested in a GC recommendation if someone sends you one!

@Rivers Plowden Thanks I'll look into it!