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All Forum Posts by: Devin James

Devin James has started 101 posts and replied 456 times.

Post: How to start out in investing in real estate

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Pedro Navarrete,

As Nathan Gesner mentioned, Meetups! This is your best bet to find a mentor in your area. Find some that interest you and consistently attend them. 

Post: When can I put under construction home for a rental?

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Manav Wadhwa,

That is a question to ask the builder. Until you close, it is the builders property so you will need their permission to market/show the property.

Post: Stay in or back out?

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278
Quote from @Jillian Steelman:

Thanks for the insight! We are only into the property for $500 earnest money so no real loss there. This is a college town that rents well to both families and students. Obviously investors see this as a great investment as did I…hence all the new houses listed as rentals. Just got a little nervous that so many rentals all listed at the same time. I just have to remember I’m in this for the long haul..and I can always come down off the rent a little the first year to be competitive and get someone in to get it rolling. Thanks for the support 


 Hey Jillian Steelman

I say keep it, for the reasons you just stated. Also, as Nathan Harden mentioned, you have a 4/2, so you should be fine.

Post: Does Renovation Make Sense in this scenario?

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Sheena Varghese,

Im with Jon Puente.

Option 1 will give a better initial cash on cash return. But option 2 seems like it will be a better ROI when accounting for value added, appreciation and the ease of selling in the future.

Post: Motivated post-college first time investor

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Jackson O'Leary,

Your best bet would be to attend some local real estate investment meetups. You will be able to meet investors in your area who will be able to give you the best guidance. In the mean time, I recommend that you read all of the bigger pockets books and listen to as many of the podcasts as you can.

The community is here if you have any questions. Good Luck!!

Post: Collecting Rent from Tenant

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Rachelle Richardson,

RentRedi has been good to us. Also, I believe Bigger Pockets has a discount code if you are a member.

Post: Should I take more time for less money?

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Theodore Stettler,

I think Steve Vaughan made some great points.

Especially "Don't tell us how much you'll make. Tell us how much you'll keep."

I vote job #2, but focus on keeping your expenses low.

Post: How to find the right deal in the suburbs

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Faith Importico,

I think that depends on the investor. If you're a seasoned investor and can handle a full gut renovation, then go for it. But I wouldn't recommend a newer investor to start off with such an intensive project.

But if you're asking which is "better" for investment purposes, then that depends on each deal individually. But typically, the more value you can add, the better.

Post: First steps into investing as a student in college

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278

Hey Mario Tavares,

You are in a similar situation as I was in when I was in school. I recommend that you use this time to learn as much as you can. Read as many books as you can get your hands on, stay on the forums, listen to BP Real Estate, Rookie, & Money podcasts faithfully. Also, I encourage you to attend some local real estate investment meetups in your area. It is a great place to network, and seasoned investors love to see young/ambitious investors and they will be open to answering any questions that you have.

In regards to your license, I wouldn't worry about that at this moment. Focus on athletics & schooling. Also, save as much money as you can from your current job. Once you're ready, you can use those funds to finance your first property. Your future self will thank you.

The community is here if you have any questions, good luck!

Post: Looking for someone to learn from to get started in RE!

Devin James
Posted
  • Developer
  • Orlando, FL
  • Posts 465
  • Votes 278
Quote from @Simon Huber:
Quote from @Devin James:

Hey Simon Huber,

I recommend that you attend some local real estate investment meetups. You will be able to meet the exact people you are searching for.


 There is nothing in my area unfortunately


Great advice from Scott E.

Simon Huber, What is your location?