All Forum Posts by: Bill Hinshaw

Good luck Cindy.

What kind of deal did you get on the house? Were you able to finance it? How much do you expect to put into the rehab?

Sorry for all the questions. I have been studying HUD homes in my area and am considering putting in an offer on a few.

Thanks Dennis. I found their website. Have you had a positive experience with this group?

Thanks guys - your responses were not as conservative as I thought they would be.

Jon - you mentioned partnering with someone experienced... any feedback on what you think that arrangement might look like? Ideally I would prefer to pay someone to mentor me thru a specific timeframe, as opposed to partnering with them on a real estate deal (which potentially implies a long term business relationship).

Hypothetical...

Say you had $200k that you could put toward real estate. Also – that $200k is only a portion, say 50%, of your overall savings portfolio. You grew up cleaning/managing apartments and SFRs, but you have no prior knowledge of real estate deals except for some recent research on your local market and what you’ve learned from other investors over 4 months time.

Would you consider diving into multi-family with that $200k? I’d guess 99% of you would say no. What if you located a mentor that agreed to walk you thru the deal and the first yr? Maybe? What type of payment/deal would you be looking for if you were the mentor?

Common sense would probably say that someone new to real estate would start off with an SFR and go from there, but I am very attracted to the efficiency of multi family… one deal, one roof, etc

This is purely hypothetical. Maybe someday soon I’ll be at a place where this situation is real for me, but not at this point. The $200k is hypothetical, and I am not soliciting for a mentor from Bigger Pockets, but I am very interested in your thoughts on the subject.

Thanks Greg, Jon, Sam - appreciate the welcome.

I look forward to learning from you guys.

Hey all. I am a 40 yr old engineer in the Dallas, TX area (Murphy for those who are familiar).

After studying and trading stock options for more than 6 yrs, I have decided to give up on that vehicle as a way to fund my retirement. I started investigating real estate at the beginning of the year and stumbled on to BP in that process.

My father was a real estate investor, and I spent my summers painting, cleaning, mowing, and snaking sewer lines. I also managed an apartment complex in college. That is the extent of my experience in real estate. I have seen most of the ugly stuff, but not much of the money side.

I am interested in rentals and am trying to decide between multi family or individual houses. I am here trying to learn as much as possible.