All Forum Posts by: Caleb Anderson

Hey BP, looking to get my first buy and hold property. I live in Locust Grove, GA, maybe 45 minutes south of Atlanta. For my rental property, I think I’d feel more comfortable getting something closer to me and my partner. LG has lots of rural parts and a population of maybe 5,000, but it’s a good area and it’s certainly growing. My question is- Is it a bad idea for me to start in an area because it’s close to me, or should I be more advantageous and go invest further away for a better pool of deals?

Hey BP, I am in the works of starting my first REI project. My father in law is looking to partner with me, him bringing the cash, myself finding the deal and working it. What are some strategies and ways he could make money partnering with me? I keep hearing cut profits 50/50. What happens if we sell the house? If it is possible for him, should he completely pay off the house? Just looking to hear some strategies and ideas.

@Joe Splitrock thank you so much for the in depth comment. I like to think I'll be ready for that, I am a manager at a large restaurant and a lot of that I have to do anyways, and I'll be sure to have that money saved. I like that idea of grabbing a property that's ready day 1 to make it as streamlined and safe as possible.

@Linda D. , see that's what makes me wanna look for something g with as low risk/retrun as possible just so I can see how it goes. My wife is willing to help with this, and I'm used to working heavy hours.

Thanks @Manon Sheiman , it's my father in law, and I'd make sure he'd be taken care of. Thanks for the advice!

Thanks for all the advice. I can say I would be willing to work extra at first to get something going. Some things I didn't mention- I have a family member that is able to invest at least 50k in something. I am also able to change my job to make a little less $ and work maybe 40-45 hours a week, which is a finacial hit I can take, while still having the option to go back to more $ at 50-55 hours a week if any of this doesn't work out. 

Either way, I will take all this advice and continue researching and learning while finding a local REIA and surrounding myself with them. Thanks!

@Brian Schmelzlen, thanks a lot Brian, that's excellent advice. I'll try to follow-up with you after I do some research on what that is and make a detailed plan.

@Abdul Shishi, thanks for the needed realism. I'm sure you're right and I will do my best to extra prepared and careful whenever I do dive into this.

@Anthony Dooley, well said! Knowledge is bullets for the gun, and by the time I get started- I'll be an ex-Green Barete sniper! Did I go to far with this analogy?... Haha

@Omar Khan, thank you so much for the reply. I think i'll do just that, especially looking for REIA's and other people in my area.