All Forum Posts by: Daniel Ben-Hur

Quote from @Joe Homs:

@Daniel Ben-Hur $100-$150 is nothing.  One repair and your profits for the year are gone.  You should look more at $500 a month plus.  Don't jump into something without some knowledge and cash in your bank account.

Good Investing... 

 Does it make a difference if I am putting 15% up for vacancies & repairs already?

I am 23, and I am eager to purchase my first rental property. I found a property that cash flows around $100-$150 in Bakersfield, depending on the interest rate, but I am wondering if it is a good idea to take this and run with it as a first rental, in order to be able to cash out refi in the future to be able to put a bigger down payment on a mult-family property. My projected ROI is 4.5%... so do I purchase it, or wait and save up that money for a bigger down payment on a multi-family property? (Yearly salary: $70,000)

Property description:

Listing price: $170,000

Rent: $1600

Buying my first property is pretty scary to be honest. I have 20% down payment ready, but again, still scary. From my analysis the cash flow is not much, but I also know beggars can't be choosers lol. 

This is a bit of a random question, not that I would do this, but I was wondering is anyone has ever purchased an expensive cabin (close to 1mil) near some place like Big Bear or some national park, and listed it on AirBNB with property management running it throughout the year, not for the purposes of making a cash flowing property (of course if it did that would be great), but for the purposes of being able to own a cabin cheaper than just owning one and letting it collect dust while you do not use it. I am wondering if in the long run it would be cheaper to do this or pay for an airBNB from someone else on AirBNB when I want a cabin. (Assuming I would use it at least once every couple of months myself for family/friends). 

My and my soon to be wife both graduated college at the same time and we make a combined $150k/year ($75k each) We are still living at home with our parents to save money, and we want to build wealth in real estate. 

We both have 0 debt. I’ve seen many strategies, but this one that has caught my eye recently. Purchasing the right home every 2 years, then renting it out to someone and purchasing a new home. Repeat for 15ish years to hopefully own a total of 6-7 homes by the end of this. I am projected to make $100k and she is projected to make $150k within the next 5 years, and on from there. Is this doable on our salaries in Bakersfield, or would it be better out of state? 

Quote from @Tim Ryan:

Hi Daniel.  Welcome to BP!  Congrats on figuring this out at your age.  I would suggest out of state. I have family in Bakersfield and I don't see the right investments there right now.  I can tell you more about my RE journey, which by the way, started with reading Rich Dad Poor Dad - complete life game changer! It's real!!

Hey Tim, thank you for the feedback!

Are there any cities in particular that are a good starting point to look at for 2024. Currently I am looking at Birmingham and Dallas. I have found numerous properties that cash flow but I need to do a lot more research on the cities itself. 

Hello community!

My name is Daniel and I was recently told by my father to read rich dad poor dad, as well as Ken McElroy's ABC's of Real Estate Investing... I soon had a change of heart in what I desired to do for the rest of my life. 

Long story short I graduated college with my degree in engineering and have been working as an Civil Engineer for a little over a year. Because my desires have changed, the way I see it, I would much rather spend my time seeking investments that will guide me to financial freedom, than waste my time working and hoping the potentials of a 401k will save me in my 60's. I am 23 years old and I want to start investing in real estate now! The only knowledge I have was obtained so far comes from books/podcasts, but no hands-on experience yet. I do plan on attending a real estate meet up this coming January. 

The question I have is in regards to location for my first rental property. I live in Bakersfield, and I am wondering if it is better to keep looking for deals in the Bakersfield/surrounding areas, or to look at properties in other states such as Texas (because I may move there in some years) because at first glance, in other states such as Texas, I am able to find cash flowing properties at a much higher rate. Any tips on finding cash flowing properties in Bakersfield, or any realtors/brokers that specialize in investment properties in the surrounding Bakersfield area?