All Forum Posts by: Chris Jordon

The universe must have realized this is just what I needed to hear today. I'm reading this in 2017 and it still carries as much validity as it did in 2016. Thanks for taking the time to share your insight @Brandon Hall and I will definitely be applying this to my day to day going forward!

@Andrew Johnson That was my original strategy so I definitely see the upside in going that route. It never hurts to get the input of more seasoned investors to make sure I'm not leaving too much meat on the bone. 

Hey BP,

I'm looking for thoughts and opinions on how I should maneuver the next move in my real estate journey. I'm currently undecided on the best route that I should utilize to purchase property number two because there are so many appealing options. I purchased my first property (which was a HUD home) in 2015 for 135k and have been fortunate enough to benefit from rapid appreciation due to Nashville's hot market. After making some improvements, the home is now worth around 210k give or take and I don't know the strategy that would be most beneficial in expediting the growth of my portfolio.

Option A: Do a cash out re-fi and pull out the available equity (80%), rent the property, and use the available cash to finance the next. 

Option B: Sale the property to access the total profit gained and spread it across multiple acquisitions or a multifamily that required a more extensive rehab.

Option C: Do a 1031-exchange to purchase the second property (of significantly greater value) and do a cash of refi to provide the funds needed for repairs and/or additional property.

I would love to hear all thoughts on what option they feel is the best and why. Thanks for taking the time to read my post!

That's awesome, Andy. Congrats to you and your wife on the new addition to the family!

This news made the day. I will be there!

Hey Aaron,

I think many BP members are cringing at the mere thought of the "pay 25k and we lead you to the promise land" propaganda that these programs often attempt to sell. I attended the Fortune Builders seminar a couple years back and I found the 3-day course to be very beneficial in helping to develop a foundation. We all have to do what's best for us individually but I would strongly advise thoroughly browsing around BP before opening your checkbook. There are so many great resources and tools on this site (most of which are free) that are at your disposal. Learn what you can first from BP and if you find it's not enough, catch another Fortune Builders seminar in the future.

Hey @JamesKlafehn,

I've just recently started hearing about Cap rate but I wasn't aware of its significance to analyzing potential investments. I will dig around the site and brush up on my knowledge.Thanks for taking the time to share your thoughts!

Hey Michelle,

It appears you've gotten some great feedback and I don't want to regurgitate what's already been said.  I think it's a phenomenal idea and a really great way to create an incentive for the tenant without costing yourself any money in the process. If you decide to use it please post again letting us know how it goes. Best of luck!

Hey Jake,

Thanks for sharing your story! As a relatively young guy myself (23), it's always great to hear people I can relate to in both age and schedule making moves. I look forward to reading more about the deals you do in the coming months. Keep up the momentum and best of luck man!

Hey Sheena,

Welcome to BP! In my opinion, BP is the Wal-Mart of real estate information in the sense that it's a one stop shop for all things real estate investing. When in doubt and on the site just click somewhere and you’re bound to learn something of substance. I wish you and your husband the best of luck in your endeavors!