All Forum Posts by: Rodney Watson

@Ali L. Thanks Alice that’s good advice I think I’m going that way. 

@Caroline C. I think thats the way I was leaning. Pool my resources, align the stars, and make B a 2fam. Refinance after the work is done and since and repeat... 

Thanks 

@Aaron K. thank you Aaron

@Caroline C.@Aaron K.@Shawn Mcenteer

Caroline C. Aaron Klatt  Shawn M. Thanks BP family... Y'all have been such a help. Let me see if i can elaborate a little more.

Prop A - primary SF residence (aprox 100k eq)

Prop B - fully executed contract, VA zero down loan, must become my new primary residence. Probate sale SFR aprox 50k eq at close. Needs cosmetic work. Nothing major. As with probate sales the deceased didn't do any upgrades since the late 70's early 80's so its dated not destroyed.

Purch Price 424k.  

ARV aprox 650k for a 2 fam, (maybe more)

ARV aprox 525k for a SFR. (maybe more)

Repairs aprox 75-100k to convert to a legal 2 fam. 

Repairs aprox 25-50k to fix and leave as SFR

Presently no tenants in either home. I am a 9-5 NYC MTA employee and I also own a small home renovation company so I can pay both mortgages alone. (I'll be broke but I can do it) so I can hold both properties.

Was thinking about fixing & converting prop B, taking equity out after repairs, buying prop C in Jacksonville or Orlando FL... rinse and repeat ect...

 Good day bigger pockets family question:

Would you fix property B with equity from property A or  would you purchase property C with equity from property A.

I Live in New York City looking to invest in Jacksonville  or Orlando Florida

Hi guys, has anyone done business with or heard of an investor out of Norfolk Virginia named Antonio Edwards? I am looking for a coach and found him online. He has been the guest on numerous R/E related shows on the radio and tv, he also hosts a R/E podcast, and he has countless R/E youtube videos. BUT HE'S NOT HERE IN BIGGERPOCKETS!!!!! Thats kind of a red flag to me. As bigger pockets  is the flagship of re investing sites. It's almost like "how could you NOT be on biggerpockets". 

Also if anyone has positive (or negative) feedback about a coach please chime in... thanks 

@Dan Wynn. I was looking into turnkey investing and found that Jax was a good place to invest through that research. Population growth, job growth, strong rental mkt, real estate prices should equal successful investing for a first timer like myself... I really like the fact that they are going to deepen the St Johns to accommodate larger vessels. Is there a good real estate club in the area? Also who is your RE agent as I am looking to put together my team as well. Also thanks for ur service sir...! I am also serving in the Air Force Reserves 13 yrs AF now. (10 yrs prior service Army) looking to retire early in 2018.

@Dan Wynn Congrats! I am also looking into the Jax area. I like the 32210 area. Do you live in the Jax area? I live in NYC and I'm going to invest out of my home state. Any advice on the zip code I've mentioned? what zip is your property in?