All Forum Posts by: Antonio Evans

@Atonio Evans

Great thing about being in Brookhaven it's a rural area. There is not enough rental inventory so rent is high. Lincoln, Pike, and Walthall commands high rent. Go out and buy a trailer for 20K in Lolyd Star, or Bogue Chitto School District and rent it out for $700 for example. Save the rent and repeat the process. I'm sure there maybe some negative feedback on that suggestion, but the fact is trailers is where the money at in this area. If your dream of becoming wealthy is really what you're wanting to achieve then you got to take action today.

I know the feeling dude. You feel like you're building a wall and if you don't lay the first course exactly right you'll screw the whole thing up. I can't say that I have advice for you from any place of experience because I'm just starting in real estate as well but sacrifice and patience seem to be a common theme amongst those who have been successful.
There may be something to downgrading your lifestyle for a time. Like taking a few steps back to get a good running start. I have a 2014 Maxima and my girl has a 2015 Honda. In one year when my lease is up, instead of trading in on the newer hotter Maxima I'm going to just turn it in and save $500 a month on payment and insurance. My thought is, "sacrifice now and a couple years from now I'll be driving something that smokes the Maxima."
I have read a few stories where people have blown up in real estate and amassed wealth in very short order but I think those stories are rarities. This seems to be a long game. Figure out your long-term goal. Five years, 10 years, retirement. Then figure your short-term goals, daily, weekly, monthly, year, that will get you that jet.
Good luck

I buy single family homes in the right location  they are easy to rent and easy to sale .When  you buy triplexes they can be hard to sale, you have limited your self to  only to investors to sale to if in a jam .

 Although I have some associates that have totally crushed the wholesaling game in their first year i was not one of them. It took me that long to do a deal that was really worth while. Wholesaling is hard and time consuming if you are going to do it right. Its not just getting a house under contract and finding a buyer. Theres a ton of research that goes into each property to make sure youre actually getting a deal and that your actually passing along a deal.

Direct mail or putting out bandit signs and networking takes a huge amount of time, effort, dedication and expense. If you dont plan to carry through dont even start.

Building a real buyers list wont happen until you have established a great deal of trust with your local buyers. They have to know you, and you have to make their life and choices easy. Do all the work for them before you ever present a deal.

As far as your debt, well, a car is the last one you want. Get something that serves the purpose and drive the wheels off it. Your sellers will appreciate it too. Look like the working man and you will appeal to them.

Section8, could be a great way to get paid. No hassles. Make sure your place is up to par and will pass all the inspections. Dont try to fool the Government, you WILL get caught up. Do it right. Find something that needs a little work and use some hard money to fix it up and refi. Your place will qualify and you will be happy about living in it. Your brother will too.

Move to a major city in Asia and teach English for a year. You'll make the same money you do now, change your whole perspective on life, and will meet a number of people from all different countries and learn about ways of thinking and opportunities you never thought possible. I did it at 22 and the experience of getting out of your comfort zone and learning new things is eye opening. Worst case scenario you're back home a few months later none the worse off.

Oh yeah, and sell the car bud :)

Obviously get rid of the car and pay off the car debt.  Buy a 10 year old Japanese car for $2k.  It will work, be cheap to maintain, and then set as a goal, once you hit $250k in net worth, you will buy the $25k car again.  If you feel cars are important to you, and you have access to a dealer, buy a 3 year old car from a dealer auction, then after a year sell it on craigslist, and repeat the process.  You can drive a 3 year old car forever for free using this strategy.

Focus on your dayjob income.  It is tough to really get ahead earning $35k a year.  Start driving for uber, or doing any other side hustles you can thing of to get your income over $80k.  Save like crazy, make sure you always have 6 months worth of living expenses in the bank over and above your investments.  This will allow you to be lower stress, and perform better in your day job and investing career.   Don't invest until you have the 6 month buffer.  Otherwise 1 boiler or roof could ruin you.

Then start investing in property.  House hacking is a great way to start.  Then with savings, once you have enough buy another multifamily, and then another.  Before you know it, you will be a successful real estate investor.

At your age, I would also consider travel.  Take 6 months out in South America or Asia, and will change your perspective on everything, and likely make you better at your day job, especially sales.