All Forum Posts by: Daniel Warren

thanks Joe and Brandon. I'm really enjoying the info on the site

as I'm kicking around looking for my first deal, I've been thinking about my growth strategy . I've read a few threads on leveraging vs debt free, and I'm leaning more towards leverage with a little cash as possible to get each deal rolling, and maybe timing everything to be paid off about when I would like to retire. I guess my question is more detailed info on how to operate in that manner. Like say I had 8k and got 4 deals rolling at 2k each. Let's not look at numbers so much as theory. We'll say they all cash flow at least 100. So now my cash is gone and I'll be saving up the rental money as I plan to reinvest all money for a long time. I know part of the strategy is pulling out equity but I have little because I just got into said deals. So the question here is do I pay note on three and extra on 1 so I can pull out equity faster on it, or is there a way to pull small equity out of all at once. And other than that its just saving up the money until I get enough to get another deal .

hey Dustin, I'm from crossett and similar situation just starting out. I'll send you a request and we can keep tabs with each other and help each other where we can and motivate each other. Grow our arkansas network

before he even mentioned the price, he mentioned the 17 acres of hwy frontage, the 14 or 15 20k mobile homes. he said he's had offers to buy parts of the land that the park wasnt on. after the holidays i will sit down with him and get him to lay down some actual numbers. i want this park, its been around as long as i have, but like bryan h. said, i dont want to spend 30 years giving him all the money i make off the park, and then clearing my first dollar when i retire.

my 401k I can borrow half my balance and have up to 2 loans out at one time. They offer general purpose loans so no need to prove what its for or anything. Only penalty is "loss of compounding interests" but if I pull 30% COC then I guess I can live with missing out on my 8% lol

thanks @Sean Moen right now I'm trying to catch up with him to get some more official numbers laid down so I can do a better analysis of the deal. I'll post back when I get it

i don't know if she will or not, I just want to have some figures to throw out when we talk. I'm just trying to run some numbers that make sure I'm cash flowing. She is semi motivated and who knows she might agree. If I can get 3% I'll sure take it lol. I'll just pitch the lower interest for the larger down payment. I would like to show up to the meet with three figures worked up and contracts already printed out for each figure. Maybe that will give me a more serious look and put a little pressure for them to deal. They might shoot it down but I don't wanna walk in empty handed. Thinking I can help keep the ball in my court by looking like a professional and I know what I'm doing!

im looking at a good shape 3br/1b house for 22k. I contacted owner about possible owner financing and she said it was possible, if I could wait until after holidays where she had time to work up a contract. I'm just running some numbers myself to have an idea what I want before we meet to discuss terms. House is already rented @450 with a 4 or 5 year tenant. So here are my numbers I've been playing with:

2k down, carry 20k for 15yrs @ 5% for 158.16/m

So that's 225(50% rule)-158.16=66.84 then x 12=802.08 then /2k= 40% COC

4K down, carry 18k for 15@3% for 123.30

225-124.30=100.70*12=1208.4/4000= 30% CPC

4k carry 18 for 10yrs @ 3% for 173.81

225-173.81=51.19*12=614.28/4000=15% cCPC

Did I figure that right and are those do-able?

hey man i find my self in the same spot, overwhelmed by all the info. I've read a lot of good advice all ready, but I'll throw my two cents in. What I'm trying to do is get focused I guess. Get a general outline of a particular niche, then research each item in the outline in more detail. Then when you're done, you have a detailed plan for that particular niche. That's how I kinda control the information overload.

really enjoying this thread. Really gives me some motivation and hope since that's about how much cash I can scrape up to start off with. Gives me more ideas, thanks keep it goibg