All Forum Posts by: David Richardson

Hey guys,

I am looking to move to property and distance myself from the Portland area. I found a large property that has three homes on it. All are rented out. One at 750, 850, and 1300. I would move into the largest home. My rent collected would be the 1600. What calculator would I use because this entails three properties and I would reside in one. Also, I would put down 150,000 and the owner would then owner finance the property. Any thoughts as well? I have never attempted anything like this. Oh, property is listed for 420,000.   

@Pragya Singh, look up REVIN on Facebook. It is the RE group in Vancouver that meets biweekly and they have wonderful contacts there.

@John Lyszczyk

Thank you for the explanation. Yes, this hurts a lot as a GC. I know that I am turning my work focus to something different until we see a correction.

I am looking at properties and a team by coville Washington. Does anyone have connections by there? It is completely new to me.

@Cole Britting,

I was in your situation not to long ago. I was in college and was paying rent. I was working and studying hard but I enjoyed it. Then my apartment managers raised the rent and it was enough that it hurt the budget so I went in with three of my friends and we bought a triplex. We were going to put twelve guys in the place and make about 3600 before expenses. I made my first mistake in choosing my business partners. The business partnership only lasted a matter of months but it was one of the best decisions I made. I learned how nice passive income was. I have had ownership in two other rentals since then and have flipped 7 homes. I sold one last year and acquired another. I am looking at buying in MO this year and would like to start my stack from here and forward without selling out of any of them. Make sure your numbers are accurate and good. Make sure you can trust the people you work with. Make the decision and move forward. Best of luck.

@Greg Scott

We are hurting our tenants by not giving them consequences. Leniency is important only to some extent but not to the extent that Biden wants to take it. That is against the American dream and this is unconstitutional. We are hindering people’s growth and handicapping them if we don’t help them and then allow them to get back on their own feet. Evictions have their place and should be used if one doesn’t fulfill their end of the contract as you have mentioned. I really hope this will end.

@Joseph Schweizer

Thank you Joseph. I will read that post. I have seen similar reports and find it very encouraging to look in this market. Thank you.

Thank you Karl. It is good to hear that. I have noticed that regarding the duplexes and anything larger than that. I will look more into the single families. 

I am in Washington where my governor has hurt WA’s rental market substantially. I want a safe market and have been looking in MO. Any thoughts?

It would be 10k for myself. I see myself living much longer than 10 years longer and 120k a year is more than sufficient to start acquiring properties on the side.