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All Forum Posts by: Beau Watson

Beau Watson has started 6 posts and replied 87 times.

Post: How to know exact Cash flow

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Johnny Awwad

You would love rentec direct sir! I use it for my property management software

Post: Using 401k as a Real Estate investment vehicle

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Rodney Bolton

Just took out the max loan I could take to have funds for my first BRRRR. Funds just hit account. I'll let you know how it works out.

You can depending on your plan transfer your 401k to a self directed IRA. The self directed IRA can then buy property.

Hope this helps some

Post: Maybe my 1st rental ?

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Michael Widick

Michael,

I’ve looked into Columbus off and on and I am see turn around and a lot of good cash flowing properties like you! I would love to have a conversation with you because what has stopped me is not having a contractor in the area! I am currently in Atl holding 5 units (with 2 offers in currently) and always looking for the next. Let’s get together on something in Columbus!

Post: Need to cash out my new airbnb, but having trouble with mortgage

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Eric Tuffendsam

Got an LLC? Can get a commercial bridge loan on the property most likely running it through LLC. Rates are higher but if you need that loan, you can always refi later

Post: Day Job and Real Estate Investing?

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Fiona Smith

1. District manager of a Full service car wash

2. Extremely flexible schedule. Can jump at deals as they come to my email. Good salary. Company vehicle=free gas to go driving for dollars.

3. Would not change a darn thing. The amount of customer service and people skills I’ve learned in the 17yrs being in the service industry is invaluable. We also maintain all of our own facilities so I have had to become a jack of all trades which helps with remodels!

Post: Whats the Right direction for me!

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Jordan Lepley

House hacking is a fantastic way to start. You can get 5% down conventional loans through credit union pretty easily. This would include SFH through a 4 unit. If unable to find a true duplex or more, get creative and start looking for homes with mother in law suites that have separate entrances. You will not need to deplete all of your $50k funds you will

Immediately start to save extremely money and be able to buy a brrrr or really nice buy and hold with 25% down.

Hope this helps

Post: Collecting Rent Online

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Xavier Hamblin

I use rentec direct. They help you set up with a vendor that accepts ACH, credit card or cash payments. I love their software so far!

Post: Net worth prior to first real estate investment?

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Sean Sliman

Evening sir,

I got started buy selling my car and liquidating an old investment acct with only $20k in it. My net worth was in the negative with debt on 2 vehicles, a house and some small credit card debt. This was mid 2019.

Now I have 3 properties and 5 units. Net worth over $200k at the beginning of 2021.

Post: Buying Property for the first time

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Evan Lewis

Listen to every single BP podcast! This will give your courage to move forward. This will give you ideas on every step of the process. Dive in to the world of REI. Learn everything you can from any and all sources! I would be happy to speak on how I got started. Message me anytime

Post: Completed 3rd single family home!

Beau WatsonPosted
  • Rental Property Investor
  • Atlanta, GA
  • Posts 90
  • Votes 73

@Laura Bowler

Congrats!! That is phenomenal cash flow for that price range!