All Forum Posts by: Craig Sloan

@Michael Reisman go for it.  Get your license.  Even if you don't make much money the learning will be invaluable.  Don't get me wrong I think you'll make some money but for a few years adopt the motto "don't work to earn, work to learn."  At your age if you can develop a good knowledge of real estate and some great connections you could set yourself up to be VERY SUCCESSFUL!  You should spend a lot of time studying real estate.  If you haven't already, read the following books. 

Rich Dad Poor Dad - Robert Kiyosaki

The Cashflow Quadrant - Robert Kiyosaki

Multiple Streams of Income - Robert G Allen

The Millionaire Next Door - Thomas Stanley & William Danko 

Good luck.  Let me know if I can be of further service. 

@David Rosenbeck I sent you a PM with the info.  

@Charlie Anne my first deal was a fourplex in a little town outside of Ft. Wayne, IN.  Purchased in 2006 for $31,000.  Four 1 bedroom units.  It has been a great property.  Still own it.  Wish I could still buy properties for prices like that!  Wish I would have known more about how to market it back then.  I have a much better idea now.  Good luck with your property acquisition this year.  

@Kimberly Rodriguez wow!  Wish I would have been that focused at your age.  With your double major you sound like you are setting yourself up for success.  There are lots of ways to play the real estate game.  Learn as much as you can, network like crazy and find a niche you love.  Try to find deals and creative ways to make them happen as you work your way through college.  Academic experience is great but there is nothing like getting out there and doing it.  Practical experience combined with a good academic understanding of the real estate business should take you a long way.  Good luck.  

Sorry @Ryan King I don't much about tenant/landlord laws in Alaska.  Beautiful state though.  My family and I went to the start of the Iditarod in 2016.  What a great experience.  Good luck with your situation.  

@Reed Meyer time may be on your side.  I think it's likely this pandemic will create some buying opportunities in properties of that size.  Some of those are owned by mom & pop investors that may not have the reserves to weather the storm.  Get your ducks in a row, find a partner or find a way to come up with a down payment and you may have some opportunities in the next 12-18 months.  I certainly don't have a crystal ball.  Just my opinion of what may be possible.  Good luck.  

@Ryan King you didn't mention what state you are in.  Some states and some cities or counties are more tenant friendly than others.  Depending on the language in your lease you should be able to make a good argument to defend your actions.  It's not your fault they moved out early.  Just because they said they would take you to court doesn't mean they will.  Lots of people use it as a threat but often don't follow through.  Good luck.   

@David Rosenbeck congrats on making the decision to become a real estate investor.  I live just outside of Ft. Wayne and have been investing in the Ft. Wayne Metro market for 15 years.  It's been a good market for us.  It sounds like you have a lot going for you with your education, good paying job and ambition to get into RE investing.  It sounds like house hacking might be a good option for you.  You said you commute an hour one way each day.  I've done that, it eats up a ton of your time.  I would try to find a primary residence or house hack in the Ft. Wayne area.  This would cut down on your commute and give you more time to look for deals, learn and be with family.  

Whether you house hack or find a single family home for your primary residence I would encourage you to be frugal.  Sometimes young people spend too much on a primary residence and their mortgage payment eats funds they could have spent investing.  You're fortunate, you have a better income than most, so you should be able to payoff your student loans, purchase a residence and have money to invest.  House hacking would probably be the most cost effective way to go if you can find a suitable property.  

Before you do anything I would encourage you to sit down with your spouse and create a life plan.  I used to coach teachers that wanted to start a side business and I always encouraged them to create a life plan and then figure out how the business would fit into and enhance that plan.  Real estate is a great way to fund the life of your dreams.  I would encourage you to think about your ideal life and then consider how you could use real estate as a tool to fund your ideal life.  I have some planning tools that I'd be happy to send you if you're interested.  Good luck.  Please let me know if I can be of further service. 

@john collins hope it goes well.  Good luck.

@April Eilers I'd be interested in speaking with you about a possible purchase.  I own a few parks and I'm always looking for more.