All Forum Posts by: Devin James

Congrats Angela Floyd, looks like your creativity paid off!

Hey Jordyn Tapley,

There are many different opinions and viewpoints on this topic. Personally, I believe its best if you don't use bad debt to finance your first property. Things are bound to go wrong on your first deal, and you need cash to be able to cover yourself. You always need some type of cash reserve.

But there are still other ways to invest. You can wholesale to get the funds, and this will help learn the acquisition process. Or you can find a partner that is willing to put up the funds and you can split the deal 50/50, 60/40 or whatever you both agree to.

Attend meetups, keep learning, save money, find a deal, and if its a good deal then you should be able to wholesale it, or find a partner.

Good Luck!

Hey ZZ Song,

I recommend going to some local meetups in your area. You will be able to meet like minded individuals and grow your network.

Good Luck!

Hey Monique Samuel, 

I would ask, what are your end goals and which option would get you there the most efficient way?

Some thoughts:

- An ADU would add significant value to your property, but an RV wouldn't.

- The RV will depreciate over time, unlike an ADU.

- I assume that there would be more repairs/headaches associated with the RV.

- Smaller tenant pool.

Good Luck!

Congrats Alex M. Huber, sounds like a great deal!

Hey Justin Herberger,

I recommend attending a local real estate meetup. You will meet people from all walks of real estate and many can provide value. 

Hey Aaron Heers,

I use the leases that Bigger Pockets provides (You may need a subscription). They have different forms for each state depending on that states laws. I would recommend reading through the lease and add/delete anything that you deem fit. Good Luck!

Hey Mathew Hilton,

$2275 seems pretty steep for that project. If the shed isn't adding value, then I would dispose of it. Good Luck!

Congrats Alex Wollin!

Cash flowing $1,500 on a $269k purchase price is a home run!

Beautiful, congrats!!