All Forum Posts by: Daniel Jodrey

Hey @Mike Wood, I have spoken to a few real estate agents and they said that getting a 203k loan would be possible. I have heard about PMI, how much does that generally add on and how easy is it to get that?

I am planning that the second property we would need the 20% down, which I am ready for that. Just being able to get into the game at low money down I feel would be ideal, and then I can learn a lot through that first property. 

Do you mind me asking what you do here in New Orleans? I am not set on my plan; I am just trying to make a plan and critique it as I go. Do you know of any markets in the nearby area that would be better for me to start in? (Tampa,Orlando,Pensacola)

Thank you @Jack Butala! Yes, this site is amazing. Big thank you to @Joshua Dorkin for putting in those 80-100 hour weeks to get this site and business up and running. 

I have listened to many podcasts and every night will put them on before going to sleep. I am reading the ultimate beginners guide to understand how to build my plan and vision. 

I love hearing others stories and how they started. This is truly such an exciting industry and I know that I will be successful in it, just learning the patience. 

Thank you @Michael S.. I am so excited to get started and wish I could tomorrow, however I know there is a lot of education and learning to happen so I am trying to stay patient and continue learning. Do you have any suggestions on the best way to start? Would it be better to have a Multi Unit, live in one side and learn the business while still having some cash flow? Or buy a home that I could flip and if all goes well get a lump sum of cash. 

I also do not understand how to know where is a "good market". I am finding in New Orleans that it is very competitive, and prices are fairly high. 

When is a logical time in the REI career to make it a full time thing?

Any help and advice is so greatly appreciated!

Hello!

I am starting out my Real Estate adventure and am in the beginning stages of my plans and building my business plan/model. I have a good idea of what I want to do and how I want to do it. I would like my first property to be a Multi Family off a FHA, live in one side rent out other. Have the other side renter pay my Mortgage off, while I am paying very little for my down payment.

I have committed partner who is going to support me financially through the initial start up and throughout the business. This partner would most likely live in the Multi Family while I reach out to a different market and look for either another Multi Family or a Flip. I think ideally I would like to buy a flip for our second purchase and I personally will spend 6-8 months working on the property and getting it ready for sell.

I am interested in what other areas would be a good market to do this in. I am willing to move and dedicate my everything to it. Any advice/tips would be appreciated. I still have much to learn and will continue doing so through all the resources on BiggerPockets as well as books and podcasts I have obtained.

Looking forward to meeting and speaking with you all and starting my journey!

Daniel

Go Cougs!

Glad to hear Alex, I would love to connect, I am interested in investing in Pullman as well. Also spent the best four years of my life there!