All Forum Posts by: Ashley Hamilton

 Hello, Thanks! I love Vegas and travel there 4 or more times a year. It just feels like home to me. But I want a condo to Airbnb most of the time and live in other times and within the next 5  years I will make it my home. I saw summerlin which seems nice but would love to stay by old vegas or with in 5 mins from the strip.

 Saving the rents from other properties. Last year I purchased and rehabbed two properties off my credit cards. Hope this helps.

 Thanks! Anything I can do to help, let me know.

 Hello, that's great glad to see that you started out. I'm sorry about the fire I would love to help an offer any advice that I possibly can I'll send you a direct message with my phone number.

no actually I didn't have anybody telling me things about real estate or anybody being supportive. I'm the only person in my whole entire family that does Real Estate, I'm the only person in my family that has been able to own a property. My mother is 60 years old and never owned the property. All I know is that things are hard, but I've been lucky but I've also had people trash my homes as well but at the end of the day it's just all paint and a little elbow grease, I'm not putting granite countertops and Custom Cabinets in the houses I'm just going to Home Depot for the stuff so worst case scenario somebody does trash to the house I'm out of about $3,000 to put it back together. Which could set me back a year but I'll just make sure I be more selective on the next tenant for that property.

Thanks!! Me too,  I'll post an update, current trying to get a portfolio loan so I can do just that.

 @stuart smith yes I'm down with this

When I started I worked as a waiter at a restaurant making 16k a year. Here's an example of what I've done 10 times. I purchased a home for $1900, put about $17k worth of work, I made everything nice and new so I would have repairs for 2-3 years. Once the house was finished I rented out for $800/ moth. That same tenant has been there for 5 years. So I've received $48k, taxes are under $1200/ year, and I've literally replaced a faucet and snaked a drain in 5 years. The tenants pay all utilities so I don't have any expenses. So lets say in 5 years with taxes and rounding up I've spent $8k. So I made $40k in 5 years off this property when I originally invested under $20k. Now today the same property is worth $40k, so If I sell today I would have made $60k in five years without doing anything beside the initial renovations and using the phone to call a plumber a couple of times. I've done this multiple times already, and I don't see how it doesn't make sense.

And another this, just because the property in $1000 or $30k doesn't mean it's in the ghetto or in a bad neighborhood. 

First, OMG @Ryan Murdock voted on my post, I'm definitely fanning out lol. 

But I have to strongly disagree with everyone saying it's only because I'm local and that its a job. It wasn't a job and I was actually able to retire at age 23, However I turned into a job and started my own property management company after a hedge fund that I was bidding against on a property ask me to do for them what I was doing for myself. I have investors whos never been to Detroit who made $100,000 in 4 years, and everything can be proven. It's seems like no one wants to be patient and make that investment upfront and wait a couple years to recoup. Like @Account Closed said when a recession hits and no one can afford the expensive rents, then you all will be in trouble as for investor with cheaper properties are pretty much safe. Tenants who work at walmart and restaurants will still be safe. Also Like I heard someone on the podcast say before when you own the property free and clear or have low mortgages on them your recession proof because if the economy is bad you just lower the rents. By not having a mortgage payment you have no payment to make, So you can make the rents $300 if you have to. The key is always having a strategy.  I can debate all day, but unless you actually doing this you shouldn't call it a job. 

Hello, yes I've done this in Detroit for 9 years now and some properties were purchased for $1000.  At this point I own 9 properties (10 door) free in clear in Detroit. All occupied, making around $7100 per month. I've already made my initial investment back on almost all the properties and am now seeking a blanket loan on my portfolio. My guess is the total value of the properties as a whole today are $469k. So at 32 years old I owe $469k worth of real estate. But the good news is if the market go up next month or next year I could be worth $600k, then next year maybe $1 million. And i'm confident that the market will go up because it's already hit rock bottom so there's nowhere to go but up from here. Also there's a lot of big investment going on in the city now. I am currently look to purchase a condo in Vegas as well and hopefully moving down there soon. Thanks for you post!!! We need more opened minded people on here that can appeal to the masses without a ton of money.