All Forum Posts by: Daniel Byrd

Bynum’s or Prime for HVAC. I haven’t much dealings with handyman or plumber.

This is Daniels wife, Brittney. He showed me this thread and wanted me to read it. I wanted to let you all know, I am fully supportive of what Daniel wants to do with real estate investing. He supported my dream of wanting to open a catering/meal prep business and we have hit the ground running with it. And in turn I want to support his dream. Regarding me wanting a new home, here was my thinking... our current home would make a great rental property. I would pay our next home with my own money from the business. It would be me paying myself and then paying our mortgage. And give him an opportunity to have a property and give us the home we want also. At the end of the day I value his opinion and if it’s not a smart move then we won’t do it. I saw this as a win win but maybe I was wrong. 

Ps. Ask Daniel who got him into all this financial stuff by giving him all my Dave Ramsey books to read when we first started dating 😉

Thank you all for the replies! 

@Patrick Liska $50 a month was strictly cashflow. You are absolutely right about what you said, and I have thought about all of that. I don't currently have any equity in the house because we took out a second mortgage to finance a business for my wife.

@Owen Dashner I agree with what you said, but my wife said this would be a "stepping stone" house. If it was to be our forever home then I would definitely change my mindset. I like your advice about sharing the results. I will definitely keep that in mind!

@Aaron Taylor, thanks for the reply! I have read both of those books, and they have definitely molded my way of thinking. My wife hasn’t read them yet, but I’ll definitely try to get her to. Her main issue is she is afraid it will take too long to find a home that suits both our wants.

I’m sure this discussion has been around for a while, but I need help. I want to start investing in real estate and my wife wants a new home. Sounds easy enough. I could just buy a new home and rent out my old home. The problem is, if I buy what my wife wants (3/2, no renovations, front and back porch, granite everything... you know the works) I can’t see a way not to loose money. My current home would possibly bring in a whopping $50 after mortgage, insurance, tax, cap ex, repair, management, ect. Making paper!!!....NOT! The houses in my area of Dothan, Alabama are pretty fair priced but rent values are low. If anyone has ran into this issue and has any advice I would be extremely grateful!

Talk to @Jeremy Galloway he is a wholesaler turned agent

Is it possible to buy two conjoined houses that are deeded separate into one lot under one deed?

Hi Chris! Welcome to Bigger Pockets! Good luck with your wholesaling adventure! I am from the Dothan, AL area as well. I’m a newbie trying to get in the buy and hold game. Maybe one day we will be able to do a deal together. 

Thank you all for the advice!

I have ran the numbers on a few of the properties and I can see why they are being sold. Awful! There are, however, a few properties with some potential after some negotiations. 

@Richard Heine can you tell me more about estoppel letter? I haven't heard about that until today.

I am currently looking to purchase my first rental property, and my agent sent me a list of tenant occupied homes for sale. I was wondering what peoples thoughts on tenant occupied homes were, and would it be smart for a new person to the real estate investment world to take one on? Any insight would be much appreciated!