All Forum Posts by: Brady Carpenter

Hi Scott, I'm glad I found this post. I'm about an hour south of Indy and am looking to make my first investment. I kinda screwed around in high school and college and seriously regret it now. School isn't really for me and I've had a hard time finding a good paying job with at least a decent work life balance so I'm still kind of in a rut. I've been mainly trying to find ways to do deals without using my own money for awhile until I can start to automate the process more. Hope to hear from you! Brady

@Chris Jensen Thank you, Chris! I appreciate the advice. I figured I probably should start small with the lack of experience but I too have seen people succeed with larger. I guess it's up to my risk tolerance at this point. Haha

@Joseph Bramante Will do, I appreciate the recommendation!

@Paul Choi Thank you so much for the advice! I'll definitely take all of that into account for my first deal.

@Jeff Greenberg I've listened to about 150 of the BP podcasts so far, 4 Hour Work Week, and a couple Brandon Turner books. I may not be ready but I know I'm close, I need to sign up for a pro account and use the calculator and I feel like I might be alright by that point. Thanks for the advice!

@Jeff Greenberg That's awesome to hear! I figured it was possible to do just not sure how possible. I sadly haven't ran numbers or done underwriting yet, I planned on talking to the owner since they live in my city(I figured I'd have to invest at least 30-40 minutes north) but I used to deliver pizzas there all the time and it always seemed pretty occupied. It doesn't list the rents so I'll definitely need to talk to the owner about it to help running the numbers. As for funding I possibly have a partner who specializes in MF and Syndications so I sent it his way and have been waiting for a reply. Thanks for the reply!

@Rachel H. Thank you for the advice. I've kind of had a hard time finding a mentor in my area but I'm not giving up any time soon!

The reason I'm asking this is my small town actually has a property on loopnet that I know exactly where it's at(maybe 6 minutes from where I live) for $1.9m with 51 units and a 9% cap rate. I haven't ran the numbers but if I can find the lender I think this would be a great start since single family is extremely hit or miss in my market. This complex is actually somewhat nice compared to the rest in town.

@Brian_Ploszay thank you for the reply! I was thinking the same on cash. I make pretty dang good money right now but I hate what I'm doing due to the horrible weather here this year. I'm in a tough bind

I'm torn between this job I'm not a huge fan of but makes a lot of cash to put towards investing. It's pretty tolerable but I'm trying to gain weight and it's hard when I walk routes every day. I've really been thinking about a property management job or something that makes less(hopefully not a lot less) and gives me real estate experience. The only problem is right now all I can really find is $11 an hour part time property management. I don't think it's really worth dropping to two part-time jobs but I can make whatever work if it seems like a better fit. I forgot to mention I'd like to do buy and hold but have been thinking maybe flipping if I get the capital because it seems like a fun way to get a lump sum of cash to put towards a rental property and maybe the rest into another buy and hold. Thanks in advance!