All Forum Posts by: Jay Leisten

Im in if you plan to have one in January.

Thanks Brett! I'll be sure to chat with you a bit at the meetup. Curious if we are talking about the same zones? Likely we are. The second income part isnt so tough as I work as an illustrator, so my time is flexible, and residuals from books can help keep me funded, even when I am not working.

@Joe Villeneuve  Truer words may have never been spoken.

 Thats what Im wanting to hear is the compounding purchasing power factor. I make plenty of money to support my family, so I'd be putting 75-100% back into the next purchase, plus another 6-12k out of my pocket. based on these #'s I am buying 1 myself every year, and the 1st house buys 1 for me end of year 2 ( so 3 total owned), the second buys me one in year 3 ( 5 total) year 4 I buy 1, as does house 1, As well as 2 & 3 buy one together ( 8 total) then in year 5 it would essentially double on itself? Thats really simple math I know, but even at 50% vacancy I am likely at 6-7 prperties at year 5, just because I bought 5 out of my own pocket, and the others produced atleast 1.

Hi Nate,

I run my own business which is in entertainment, so its boom/bust, so I've always been a conservative investor to offset that. I do have a stock portfolio, and understand what you are getting at. I love that this is getting people out to discuss this method. I've heard 1-2 people refer to Ramsey on the podcast, as an intro to this world, so I was curious how many are actually doing it or something close to it.

Thanks Don! I will look that book up. If I partnered in that fashion and operated as Property Manager, would I need to be licensed or as part owner, I'm guessing Im exempt from that?

Joe, I really appreciate you running the scenarios with the #$'s That does help in seeing my options.

Joe, Matt & Cody,

I've been a Dave Ramsey guy since '99 thus the debt free thought process. I have loosened up over time. My wifes family has been in real estate development in Miami, and cycled boom/bust so shes in constant fear of us joining that club.

Make sense for the Cash only process?

MATT: That process is exactly what I would do left to my own devices, and over time IF the comfort level improves with it. That is what I will do.

thanks Dave & Mark,

I'm caught up on the podcasts at this point and have read the quick guide, Rich Dad/Poor Dad, and am looking at JScotts book in the next few weeks. Brandons is on the schedule soon as well.

Just to clarify, a large part of my strategy was to make a purchase like this every 6-9 months, so that at 4-5 years Im holding 10-15 properties 100% after repairs/marketing cash flow. At that point I would likely upgrade to higher value property by selling the group off?

Thanks Ben & Jeremy!

In my market Im seeing duplex to quads in C(?) quality areas that need some upgrades ( fading roof, vacancies etc) for starting around 20k a door. just wasnt sure if thats too risky for 450-550 a door rents?

Im looking to invest but want to do it all cash out of pocket. Is there anyone here who started working that way with say 15-25k? Sweat equity is no problem for me. Should I be scouting forclosure sales on the courthouse steps? buying micro condos?