All Forum Posts by: Devin James

Hey Russell Newton,

I think most would agree to keep that 2.875% interest rate, thats gold. 

I think your two best options are:

- Stay at your current home & save until you have the income for another property

- Rent your current home, move in with your parents and save until you have the income for another property

The better financial decision will be the latter, but you will need to make sure your wife is on board with that sacrifice for the extra income.

Hey Landon Stoll,

- Save as much $ as you can

- Continue to educate yourself by reading all of the books you can get your hands on. Not only investing books, but also psychology, philosophy and any other self improvement books.

- Listen to the BiggerPockets podcasts

- Attend your local real estate investment meetups

Do all of this consistently, and I guarantee by the time you graduate you will be well prepared to start your investment journey. Then, all you will have to do is take that leap of faith to get into the game, which will be difficult to do no matter how educated you are. 

We're here if you have any questions 

Good Luck!!

Hey Edgar Gonzalez,

Same for me as the above comments, ive used the BP agreements with the PRO membership. I do recommend that you read through it and make the necessary changes/corrections for your specific needs.

Hey Brandon Morgan,

I suggest finding a small multifamily and house hacking. This is how many investors get started (Including myself) and its probably one of the safest ways you can get in the game. If you can find a duplex/triplex, you can live in one unit and rent the other units. You will only need to put down 3.5% and you will learn how to be a landlord while significantly decreasing your living expenses. Bonus points if you can find a property that needs a little bit of cosmetic work done for a value add opportunity.

Hey Chris Geer,

I agree with Charles Carillo. I would treat it like any other investment. How much of a return would this renovation give you? If it looks like a good return, go for it. If you believe you can get a better return elsewhere, then go that route.

Good Luck!

Hey Venkat Tarakad,

I would assume that no response is a "No". If I were you, I would ask myself if I am okay with purchasing this property with the pool & fence in As-Is condition? If not, look to see if you can back out of the contract and get your deposit back.

Hey Imebette Barkley,

There can be a bunch of different reasons why. The buyers could have asked for a price reduction and/or incentives that the sellers didn't agree to. Maybe the home didn't appraise as high as the buyers thought. The buyers could have bought a new car which could have lead the lender to not finance the deal anymore. Your best bet is to contact the agent and ask. Not only will it answer your questions, but its also good practice to call agents as its a great way to learn the lingo.

 As Nick C. stated, they both sound like bad deals.

Hey Imebette Barkley,

What are comps in the area and how much will it cost to renovate the home at $138K?

Hey Brandon King,

I recommend attending local real estate investment meetups for relationship building. Attending these meetups will definitely help you build relationships, which will ultimately help you scale.