All Forum Posts by: Don Mangiarelli

@Shashi P. If you follow Philosophy, I think it was the Buddah that said, the best time to plant a tree was 10 years ago, the second best time is now. If you follow successful investors you will learn that your best strategy is buy low and sell high. 10 years ago the market was at a bottom, well really about 7 years, but the strategy is to be fearful when everyone is greedy (i.e. everyone is buying), and be greedy when everyone is fearful. If you had bought 10 years ago, you'd be sitting pretty as far as cash flows and equity's are concerned. You could continue to hold and rent, or you could choose to cash out and buy more houses.

Regardless of the market, as others have pointed out, if you follow the successful strategies, you will fair well. If the deals are fundamentally sound, they will work in any market.

Don

Just looking to see if anyone has any experience with this group and what your experience was.

Thanks in advance

Aloha! Welcome aboard mark!

https://www.biggerpockets.com/store/estimating-rehab-costs-ultimate

@James C Norman Jr there are miriad ways to make a deal work. Brandon Turner has a book on buying with low and no money down. He also wrote a book on Rental Property Investing. Another book you should read is The Millionaire Real Estate Investor.

@James C Norman Jr The Best time to invest was 10 years ago. The second best time is now. Educate yourself, read books, listen to podcasts, analyze deals. Success comes from good decisions. Good decisions come from experience and experience comes from bad decisions. Good deals are available regardless of market conditions. If you are able to find them and make them work now, so much the better when the going gets tougher.

@JJ Buckner Congratulations. Only thing I would say is that you should still put in the numbers for CapEx and Vacancy and Maintenance, even though you have that money in an account. It is still going into the property and you need to show it in the numbers. You say you are adding a half bath, that is a cost and it should reflect against your numbers for accuracy. Looks like a great deal!

https://www.biggerpockets.com/companies/hard-money

@Nicholas Morgan The real question is, would YOU do the deal? You can ask here all day long and you will get as many answers as there are people who stop by to answer. In the end, YOU need to run the numbers and YOU need to feel comfortable that this is a good deal for YOU. If you ask here, you will be suffering analysis paralysis for ever. Is this a good deal for YOU?

Set your goals, then take massive action to reach them. Best advice ever. You'll never achieve anything sitting on the sidelines...