All Forum Posts by: Charlton Thiede

Thanks for the continued feedback. I just want to start by throwing out there that it is not my intention to be wreckless by discussing my personal financial situation, although I was vague. My goal was to give enough information so that I could pick the brains of what has proven to be a very smart and knowledgable group of people. Each post has given me food for thought. My main thought is that I need to continue learning because much of this is over my head still. 

I would have to say that my overarching goal is to invest my money in such a way that my family can be increasingly comfortable as the years go on. I'd love to be able to live off of real estate cash flow sooner than later. Whether that's 5 years or 15 years. But I'm also open to doing deals that yield quick, higher percentage returns, although I know that those come with more risk. 

I was approached by someone tonight who owns tons of commercial real estate in my town. They own a shopping center that they built probably 6 years ago. It has a Papa Johns and a few other chain businesses. It's s fairly small center. They are planning to sell these units and were curious to see if I was interested. We didn't talk numbers but I wonder if anyone has experience with commercial real estate properties such as this? Is this a cash flow investment to consider? How does it stack up against investing in single family homes?

Thanks so much for all the feedback thus far! I must say, it's overwhelming but helpful to hear from other, more experiences professionals. Just because it's been brought up many times, I understand the potential to be taken advantage of. I'm the polar opposite of trigger happy and I think my tendency would be to never make a move out of fear, rather than jump at any opportunity. I appreciate all the tips about being careful! Like Ken, I try to believe that people are inherently good and not looking to scam anyone, but I also know that some people are looking to do just that. I am a very cautious person. It was hard for me to even make this initial forum post because of that but I really need to quit twiddling my thumbs and take some action, even if that means just getting more information and knowledge for now.

One thing I would like some opinion on, is buying homes with cash vs. financing. Obviously, people have different opinions and I was wondering if some of you would be willing to expound of your view points a little more. If I spent my capital to buy homes, I would have more cash flow. What would be some of the other advantages/disadvantages?

If I elect to buy properties with say, 20% down, I would have less, immediate cash flow, but what would be some of the other advantages/disadvantages of doing it this way? if I elected to finance rental properties, how would you recommend doing that? if I bought homes with cash, could I finance more properties using the equity I have in the homes I purchase free and clear?

For those who discussed other niches, I appreciate those opinions as well. I am interested in learning more about wholesaling, flipping, and potentially owning storage units. I will say, I would be hesitant to invest all my capital as a down payment in 1 big deal for something like a fairly sizeable storage facility. I think I would feel way in over my head, although I could probably quit my current day job if I went down that path. Thanks again and if you have additional feedback I very much appreciate it! You guys rock! I am investing in central Arkansas by the way, if that helps anyone as they respond.

That's great advice David. I really appreciate it. I am interested in that. There are so many niches and that's one thing that could potentially keep me from ever making a move. I'm trying to learn right now so I can feel confident when I am ready to do a deal. 

Thanks for the feedback and you make a great point about borrowing money. Maybe financing properties and using my capital as leverage would make sense as well. I guess my main thought is that if I finance property, the cash flow won't be as good. 

I'm new on BP and joined after I started listening to Joe Fairless' "Best Real Estate Investing Advice Ever" podcast. It's very motivating to hear other investor's stories. Curenrly I work full time in mental health and I have a fairly considerable amount of capital at my disposal to start my real estate investing business. "Fairly considerable" is relative and vague, I know, but I'm hesitant to post a dollar amount. It's over $250,000. I'll leave it at that unless you want to talk personally. 

I know that having funds starting out is a huge advantage when going into real estate investing but I'm new at this. It would be easy to rush into something and make poor choices. My families goal in a nutshell is to increase our cash flow and for me to be able to move away from full time mental health work. 

Because I am inexperienced and my current knowledge is limited, I am looking to develop a plan for how to wisely invest my money so that it can grow and work for me long into the future. I'm interested in rental properties but I know that there are other ways to make money in real estate. I think ideally I would like to fund my own deals and use earnings to buy rental properties free and clear but I'm looking for sound advice on how to make my dream a reality. I'd love to find a great mentor. 

Here's the big question I have: If you had $250,000 how would you invest that money? 

I am also in central Arkanas but have not made a move on my first property yet. Any advice from those in the area who are already established? I'm located northeast of little rock about 45 miles. 

Thanks Michael, I really appreciate the feedback. What do you like about the site most?

Hello BP community. My name is Charlton. My wife, I and our newborn daughter live in central Arkansas where I work as a full time Mental Health Therapist. We are a one income family looking to increase our cash flow and I am eager to get started. My goal is to soak up as much information as possible in order to make confident and wise real estate investing decisions. My primary interest is income producing single family homes and finding motivated sellers to buy and resell properties.