All Forum Posts by: DJ Cummins

yes it was @James Fowler.  It is actually a 2 bed, with a bonus room  Bonus room is a small bedroom(with closet) but the washer and dryer hook up is also in that room.

@Cole Hagen,

The newest home in bethalto we bought (3 months ago)...I put some pics on a Facebook group...had about 10 people want to rent the property(for more than i expected to get).  Within a week of posting, we had tenants...never even put a sign in the yard.  Bethalto has a great school district and rents very well.

Hi @Cole Hagen,

My wife and i have 2 SFR in Bethalto, and a 4-plex on the border of Wood River/East Alton. It is a great area. Rents are solid, and prices are much lower than STL. I think you are in good shape in this area. I really like Edwardsville, but havent found anything with a price that i am willing to pay. Feel free to contact me if you have questions, but there are deals to be had for sure!

Good luck @Steven Ortmann,

When there is a will, there is a way!  I agree with Josh, keep on learning.  If you are going to be on a budget starting out--home depot teaches classes on Saturday mornings for free...you can learn to drywall, lay tile, etc.  Could really help you starting out!  

Good luck!

DJ

Hi @Benjamin Davis,

I recommend not forgetting about the "old school" investors. I have bought 1 deals out of adds FSBO in the newspaper that was not listed anywhere on line, and it was a great deal. Also, word of mouth. The more people that know you are looking, the more chances you have of someone knowing someone who wants to sell.

good luck!

DJ

Hello @Jamie Brayton,

Do you have the time already scheduled with your contractor?  Sometimes they can be scheduled out weeks in advance.  I have been meeting my contractor at the property an hour after the closing.  Time is money! :)

Hello @Andreana Gallagher,

i have looked into getting my license part time, even bought the books, but didnt go thru with it.  Basically, if i would have sold 1 house per month, i would break even.  There are quite a bit of monthly costs.  I decided against adding pressure on myself.

As far a a career, i would say do what makes you happy.  If you are "over" accounting, go for it!  If you are going to do something 40 hours per week, do something you love!

Good luck!

DJ

Hello @Natasha Graves,

Congrats on the getting close to your degree...very exciting!  My suggestion would be to word search "house hacking" here on BP.  That is a very strong way to get started, either by buying a small MF and living in a unit, or buy a bit of a fixer upper house, work on it for a year while you live on it, then you can move out and rent it out.

Good luck to you!

DJ

Hello @Melissa Harris,

Do you know @Mark Ferguson?  I believe he is from your area, and if i were you, i would be knocking on his door!  He has(i believe) about 16 rental properties, and has 15 flips going at any given time.  His stories amaze me.  He would be a wealth of knowledge to get started with!  

Good luck!
DJ

@Eric S.

I am thinking that once we have the equity built up(we aren't using any from our properties) we might try and buy a 20-40 unit building, probably in about 5 years, and hire property management to handle it at that point.

Do you have a lot of college rentals being near Mizzou?  We haven been debating on buying either a house or a condo at the lake of the ozarks, but i am worried that all of the fees would add up...and that i would spend more time vacationing than renting it out! lol