All Forum Posts by: Darius Kellar

@Cassi Justiz

Easy... Money Talks!

@Kenia Lopez

I am not sure how the market is in Charlotte but I would sell, unless you could you could increase the rent to 2,500 per month. Which is a 15% return of the investment. 

@Gaurav Mehta I dare someone not to put my offer in. I double dog dare them. 

@John Hunt

Time is your biggest advantage at 20

@John Hunt First off, I started when I was 24 and if I were to do it all over again I would do it the same way in which I believe still today is the best way. Let me explain, I saved up as much money I could and bought my first property distressed with all my own cash. I lived in it after I repaired the property with my own cash. Then when the market improved I refinanced the property and repeated the same process several times. AKA the BRRR Strategy. However, I believe when I started off the BRRR strategy the first part before the 'B' should be "S" for save. As this will act like your cushion for the newbie mistakes.

I like this approach best because you can scale up very quickly versus just putting 20% down. Personally, I hate buying investment properties the traditional way. Get the cash and going to court auctions and bank auctions allow the best deals. No matter if its a rental property or a flip, typically you will make the biggest move on the investment when you initially buy in. This will all make sense when you start investing .

From my experience I recommend starting off with rentals. Just the fact of how quickly you can get a rental property and cash flow will out do a flip. Flipping RE is not as straight forward as it seems. Comps could change during the time you are rehabbing and so much more.  It doesn't take much to rent, you could get 30+ rentals in a month and make even more. 

Keep STACKING

WOOF! lol I meant ROOF!

@Jon Graves

I used to have this problem alot and I also felt similar to how you felt. But I taught myself to say ok and move on. Surely later there was another catch out there.

@Nolan ONeill

In my experience, the first single family home property is what got the boat moving. If I had to start over I would use the same approach over and over again. 

Using all my own cash and doing all my own labor just on the first property, left me with a 100% equity to jump start my REI career. After rehabbing the property it was safer for me to refinance to take all my cash back and buy more properties that provided great cashflow without using any of my own money.