All Forum Posts by: Charles Burkeen

@Harjeet Bhatti

Can you elaborate? What is to stop me from getting a traditional loan, including rehab cost financed, and deciding to sell after a month?

Hello everyone, how did investors of large mf fare during the the crash of 08?

I know what happened to some investors of sfr due to loose lending practices.

Im just curious as to what happened in the markets relating to apartment complexes.

@Daphne Barber

1. Of course you are not to old! You are just entering the second stage of your life! Plenty more to go. There are so many success stories here of people doing amazing things in 3 to 10 years and starting out with only 35k a year jobs.

2. Take everyone's advice with a grain of salt, mainly because I'm not sure if everyone is aware of what you are trying to accomplish and how, or what your goals are.

3. Are you seeking to be hands on? Do you have a fire burning in you to create extra income? Would you enjoy the thought and action of giving an old dated house new life? If you answered yes to any or all of those questions, then real estate MAY be for you.

Or would you rather put money in some type of account to earn better interest?

It seems like you have a decent nest egg and should have an abundance of avenues to explore. Talk to several Financial advisors, ask for recommendations from local banks, relatives, friends. So many people spend and abundance of time analyzing what TV or car to buy, and then put no thought into vetting who they put their financial future into the hands of. Keep in mind, financial advisors are salesman, they want you to let them control your money, as such, they will steer you away from real estate or anything they do not offer.

The only advice I can offer you is to take a step back, and become educated about both, or all your options. After all you are still young.

This idea has kicked around in my head for awhile. Specifically buying land just outside of Houston near a good neighborhood, schools, and putting only 3 or 4 mobile homes on it. The goal would be for it not to have the trailer park feel. I'm not sure of zoning requirements and the depreciation of mobile homes scares me.

Hello, first time poster here. I am interested in a mix of flipping and BRRRR as a strategy.

I hope to start by flipping in order to create capital in the beginning and as needed. However I would like to do what makes the most sense on a case by case basis.

BRRRR will be at minimum security for retirement, with the hopes of proceeding rapidly in order to leave my day job and go REI full time.

I realize that most investors have a good idea when analyzing a property whether they will sell or rent, however My questions are...

What criteria do you use when deciding to sell or rent?

Do you form a decision to sell or rent before purchase or during or after rehab?

Do certain factors during rehab change your plans to sell or rent?

How much do cash flow, property taxes, appreciation, lower or higher than expected rehab costs factor in and which are more important?