All Forum Posts by: Account Closed

I appreciate the encouragement gentlemen, thank you. This process, is empowering, and exciting. I greatly enjoy the adventure and for the first time, real hope.

We did it. My wife and I finally agreed, the time is now. I liquefied 25K in funds, and we are now, ACTIVELY in the market for our first investment. I'M SO EXCITED!

Also, I can't breathe. LOL.

We're looking for a BRRRR in Atlanta, or a multi-family in Georgia. I think we'd both prefer a BRRRR, but that takes us into hard money lending, which is a bit of a scary unknown for us both. I'm reaching out now to find lenders, but I feel like I'm at DEFCON 4 watching out for potential scams.

I don't feel like this first deal will make or break us for the future. We understand that we will make mistakes, and I especially understand that those mistakes probably won't lead to significant profit at first. We're committed to staying the course.

Finding the deal is the trick, and I haven't even gotten to the part of bidding and winning the sale, which I'm reading is a chore. I searched for hours the other day to only find one property (I thought) would be a good BRRRR candidate, and it was gone before I had a chance to show my wife.

This step, I see being a problem for us at the beginning. Not being aggressive enough. Having to discuss each lead, and being too detail oriented. I mean if it takes 30 offers to get the first property, man my wife and I are gonna end up with a couple more kids if we're going to be interacting this much, sheesh.

What are the masses finding with the buy and hold properties? Are your winning bids coming in high, at asking, low? I hate to leave money on the table as much as I hate wasting my time. If a house is going for 80K, this is what keeps me up at night. Offer 50K? Offer 90K? Or, more than likely, its some lesser variation dependent on an "all the fish in the sea" list of "If/then" scenarios. 

I guess I don't really have a question for group today. Just writing to unburden my soul. We're here though, it's time.  

This is a really good story, and I really liked how you were brutally honest in both your presentation as well as with yourselves. I think this site needs more of these type of stories, where you didn't make 100K on a Saturday and walked away with enough lessons learned in the process.

I think BRRRR more often than would end up like you all did, where you get nearly all of your investment back, but not all right away. I commend you on your drive, and doing the work yourself (that's so not me).

This story is proof that the right deal is out there for each of us, we just have to have the wisdom to find it.

Best wishes on your next adventure.

This is not a discussion, because this is not a democracy. Tenants do not dictate terms under any circumstances, nor should you communicate with them. I realize this is still too new of a thing for there to be data on it, but look at the bigger picture...1. Tenants don't get to dictate terms or modify agreements, period.

The wife and I are cashing out our IRAs to fun the first deal. We have less than 50K saved, haven't been saving long, but we're on step 6 in Dave Ramsey which means we're saving 15% each annually.

Our choices were decrease saving, or take a one time hit. We took the hit.

If this kicks off we won't need the 401K anyway muahahaha.

Wasn't my rental, but I was the PM. Best Tenant I EVER HAD!

Dishonorable Discharge United States Marines 1989. Got drunk, punched his wife once, did two years in Leavenworth. 

I didn't approve him. He was my absolute favorite. In Texas a DD is considered a felony.

Rent on time EVERY month. Yard perfect, never a complaint, changed his own light bulbs. He was there for nearly four years.

The exception, not the rule, but the best dude I ever met tenant wise.

Hey bud, looks great. IT says you're in Marietta, I'm in Kennesaw/Dallas...wouldn't mind making your acquaintance...My wife and I will be making our first purchase before the year is out.

Just curious, as I have a wife who will be a CPA next year. Is there a reason you're looking locally? Everything a CPA needs can be mailed, scanned, faxed, emailed, etc. I'm certainly not meaning to be rude, I'm just trying to understand. This is not the first post I've seen with "CPA wanted in X city" so I'm just asking.

Best of luck in your search.

AWESOME QUESTION. I actually start my class for my license in Georgia on Monday. I'm so excited!

Why am I doing this?

No idea. Really, it's just to gain more knowledge and to network.

Now that class is, I don't know, 600 dollars, and then I have to take the state test, and license fee's. Let's say I can get out with my license for under $1K.

If I can forego one commission, in lieu of someone else paying the closing costs OR my commission offsets the closing costs...there's the ROI on the spend. One sale. We should be buying our next property in August/September.

Am I going to sell houses, no way, that's not for me. At least, not at this time. Unless I'm the owner that is. I may get into something later in life if it suits me.

Interested vs. committed, whomever said that deserves a beer. 

My license will give me knowledge, credibility, access, insight, and networks. Why not!

10K for an HVAC unit for 1500 square feet??? Does it make it snow? That's rip city. 2Ton's should cool that just fine, but those are hard to come by, so go 3T. 3K tops. That with an annual service and preventative maintenance contract will make it last its full life of 7-12 years. It's a solid investment. Might be able to get your tenants to sign a multi-year deal to ensure it happens.