All Forum Posts by: Copeland Duhon

My wife and I have started the investing process. We have $30,000 and are currently looking for our first property. We have looked at countless properties, but the numbers never seem to work out. Our biggest challenge so far has been trusting the comps. The comps we are getting do not seem to match up with the current state of the market. We understand that you can't really go off of active properties, but when comps are coming back at $150,000 ARV and there are multiple active remodeled houses in the area that have been on the market for over 100 days at just above $100,000 it makes us really nervous. How do we overcome this? Do we just ignore active properties and trust the comps from realtor?

@Marc Winter you get the “Best Advice” award for this thread! 😂😂

I’m looking for suggestions for resources on researching and evaluating new markets. What are the things I should be looking for and/or avoiding etc.....

Can anyone explain the pros and cons to using an FHA loan to get started in REI? I currently have $30,000 to invest an ideally would like to use most of it for renovations once I purchase something. Is FHA a good or bad option?

@Bruce C. Well I am sorry to hear that. How is the school board benefits in your area. Usually the health insurance is pretty good. If so, consider bus driving. It doesn't pay much but if the insurance is great it might be worth driving 2 hours in the morning and 2 hours in the evening. You can dedicate the rest of your day to REI. It might not be ideal but it seems to be better than waiting until you are making 30K-40K on REI before you quote your 9-5.

@Aaron Bonne my number right now is $7,000/month.

I am currently in the planning and leaning stage as I am brand new to Real Estate investing. I work on the road so it is very hard to network and meet with agents, bankers, and contractors to build relationships and trust. I'm interested in the BRRRR strategy and hope to have 5-10 properties by this time next year. Hoping to be able to leave my full time job in two years.

@Bruce C. Am I seeing this right? Are you saying your wife’s meds are 22K per month?

I live near a military base therefore there are many VA reposed homes on the market really cheap. I was wondering what the catch was for investors? Is there any kind of "hud" type barriers or anything that could surprise me later into the project? Thank you for all your responses in advance and God Bless!

@Andrew Syrios thank you. Private money lending for my first project makes me extremely nervous being that this would be a loan from friends or family. I might have a few people willing to partner up though, so that may definitely be a viable option. Thank you for your time sir. I’m looking forward to learning as much as I can from the pros who know!

@Will Fraser Thank you sir! I’m looking forward to learning from you guys!