All Forum Posts by: Don Ashby

How familiar are you with the CAP rates in the area? what would you expect the value of the property to be after renovation? if your sure there aren't any other repair costs then you should be good at the 700 per side. 600 might be a bit tight. I'm don't have a ton of experience but these are my thoughts. just make sure you keep that positive cash flow.

I also would use it as a down payment on an economical property to provide some cash flow and equity growth.

I don't believe that many of the responders here have fully read the post or do not understand the system. So just to clarify, I invest the money. I receive a promissory note for 10%APR. Learn your system, meet your contacts, and gain some experience and hopefuly gain a new friend. Sounds like a good deal to me. The question I have, if the deal goes sour on the house, who is left holding the bag? It seems to me if I have a promisory note for the 10% APR then the risk is on you and not me. Have you ever had a deal not work out where you didn't pay out? If I were in AZ, I would likely be lookin you up. I admire your desire to help others, both in your counseling career as well as in this venture.

@Brandon LonVelin @Rebecca Belnap I always keep an open mind; however, with what research I have done in the multi famulet market their appears to be a high demand with little supply. I am also currently using a turnkey provider and I don't see many multi's. I would have chosen to go more local but the market here in Utah seems quite pricey. Only way to come close to the 1% rule is to by in sketchy areas. I have a plan and a goal. I'm heading that direction with eyes wide open in case an irresistible opportunity comes my way. I keep an eye on the numbers to make sure they work and hopefully a few years down will see the fruits of my labors. Thanks for the comments.

@Brandon LonVelin @Rebecca Belnap I always keep an open mind; however, with what research I have done in the multi famulet market their appears to be a high demand with little supply. I am also currently using a turnkey provider and I don't see many multi's. I would have chosen to go more local but the market here in Utah seems quite pricey. Only way to come close to the 1% rule is to by in sketchy areas. I have a plan and a goal. I'm heading that direction with eyes wide open in case an irresistible opportunity comes my way. I keep an eye on the numbers to make sure they work and hopefully a few years down will see the fruits of my labors. Thanks for the comments.

Hello, I've been lurking about for a few months now and have enjoyed learning from you all on the great opportunity of real estate investing.

My primary focus will be on buy and hold of sfh. The goal is to average 2 a year until I have 10 homes. I will then reevaluate my position and possibly change some strategies.

I will most likely be closing here in the next week with my first property in Memphis. PM has already excepted a deposit on a tenant.

I'm excited to get started and also to continue meeting you all here on NO.

Sorry no picture yet. I'll get one soon. 

If I recall correctly, Intuit (Quickbooks), has several free training videos that can be viewed online. I'm also sure you should be able to find some YouTube videos.