All Forum Posts by: David L.

i am coming in about 3-4 weeks to Jackson to visit.

if you are local investors, contractors, REIA or professional in Jackson MS, i would like to meet and network.

thanks everyone, looking forwards meeting with you

Quote from @Soren Loftus:

Quote from @Jay Hinrichs:

not sure why you think you made finacial mistakes unless your Dad was going to pay for your school. that was necessary and every doc goes through that.

Real estate is not a magic bullet wealth is created over decades those same decades working your profession will get you ahead no doubt.

I just dont see any mistakes you made other than maybe you could have saved your marriage. ??

 Medical and Dental student debt has skyrocketed in the last few years while insurance reimbursments have remained the same or gone down since the 90s. There's still good potential and opportunities in the profession for sure, but looking back I chose it pretty ignorantly. I might recommend others choose a different path depending on their desires, but I am where I am right now so I'm going to use it as a lever to get out faster.

The marriage ending wasn't my mistake, it's just part of my financial situation now. But plenty of mistakes and poor spending habits that had me wasting tens of thousands of dollars without investing any of it. Assuming that once I graduated, and my income rose life and money would finally be easier. As I've learned - foolish with a little, foolish with a lot.

 I enjoy many aspects of dentistry and I'm good at it, but I don't intend to be in it for decades. I plan to retire at 40. That gives me 11 years to kill it.

hi, Dr. Loftus

60k in undergrad loans, 415k in dental school loans, 12k in credit card debt over the last 6 months. your situation is very typical for a new doctor. not too bad. only 60k undergrad and 12k cc debt are little high. the real difficult parts are marriage & your current mindset. many replies give some solutions which i think it is practical.   
2 things to remind my colleague:
1. you are in a very difficult profession. try to make more in a short time/retire in 11ys put you at more risk professional. be very careful.
2. REI is not the magic solution which i agree with Jay. approve with a good plan
all banks know dentist has reasonable income; loan is just a matter of time. another choice might be a good solution, my cousin worked for underserved area for 4 years, no debit with loan repayment program. leave this option open, not a bad choice. i am still paying mine. :)
work with your ex-wife, which is important for your kids and you
God bless you

david

Originally posted by @Tim White:

Hi @David L., welcome to BP! I am investor in the Jackson, MS area.  I am currently investing in properties in the West Jackson area.  I am also working to build my network in the Jackson area as well.

 hi, Tim

it is always a pleasure to know another investor, is west area give better return?

Originally posted by @Augustine Tran:

@David L.Hey! I'm currently investing in North Jackson and the surrounding area. Let me know if you have any questions about the area or if you need finding a reliable agent, contractors, etc.  =)

 thanks Augustine! if you have any property manager you recommend, pls let me know. keep in touch

good job Jay. :)

long term hold income property

i am new to this area, and would love to know someone know the north Jackson well. 

if anyone has a good agent, property manager, contractor, and investor you could trust. pls let me know.

thanks Kavin!

i did some study on South Euclid, garfield hts, maple hts. those area looks ok to me. 

others also recommand old brooklin, parma, ohio city, tremont area. have not finish study yet. few things i pay more attention are: income, crime rate, pos, and condition of house. since LT hold, the whole selled house need more than just cosmatic work. 

i am thinking to visit and network Cleveland in Nov, and if you have other trusted whole seller and builder, pls let me know. i talked to an agent send me some listing, one house in garfield hts short sell 20k, and looks pretty decent. 

completely agree with you, there are a ton of great deals in Cleveland and we just need to connect to the right people. 

thanks a lot everyone!

thanks James, Jon, Paul, Darmi and Aaron for your warm welcome, feel like a family already. 

for Paul, do you have more info about Niche or Specialized Housing like student housing? or you know anyone good at it?

to Aaron, thanks a lot for your generous help, and you are a great asset for investor in cleveland. 

Qs:

in cleaveland area, do you buy house from agent, builder, REO, auction or whole seller? i use to work with agent in out state, and quickly find that most agent do not provide whole sell deal. connect to a whole sell builder who can make it a lot easier. what do you think?

hi, everyone

it is truly a pleasure to find BP and most people here are amazing. in fact, i know some of them before find BP. this is a small world.

my name is David Li, and a newbie in Cleveland area. thinking to build a position here for cash flow. long term hold, therefore, the condition of the house and location are very important to me. my goal is to buy 5-10 sfh in this area. network with local people. if you have a real deal or true whole sell, pls keep in touch. i am also did hard money lending and partnership in other area. hope to find good local people to fund or partner a good project, and we are looking for long term relationship. 

if anyone has advice or referral for this area, your help is greatly appreciated!

david