All Forum Posts by: Andy McNeany

@Frank Avallone II thank you for the advice. I may take you up on a discussion

I have been researching and learning from the sidelines for years. I have finally put myself in a position to start my investing journey and am eager to get going. I submitted my first offer on a home to use as a rental, they asked for an extra day to consider the offer. I gave them 2 extra days verbally without rewriting an offer. After the 2 days they said they would not counter my offer and that I should submit my best and highest offer. I have decided to walk away and not negotiate against myself. Am searching for other options and may circle back in a month if I haven’t found anything and it is still on the market.

Am I handling this ok? I was prepared to go higher to purchase depending on their counter but this rubbed me wrong.

Holding cost is something I really didn't consider. Thanks @Edward Burns!

I am kind of banking on my negotiating and marketing skill set to help me out with Investing. I read the beginners guide after finding this site on a google search about investing, then decided I should join.

At the moment, my plan is to invest in single family homes as rental properties. The city I live in has an abundance of renters looking for places around campus with a short commute. This has been an idea of mine for a long time I just never knew how to make it happen. I plan on spending a year to research, plan, and gain the knowledge I need before purchasing my first investment property.

I just purchased my first home. My plan is to live in this house for 5-7 years. Then, because of the location being five minutes from a large college campus, rent it out once I find my next home. The goal is to purchase 1 or 2 extra rental properties in the area by that point, and continue to grow from there. With this being my first home purchase, and with it being the home I bought to live in, I am very unfamiliar with the rental business. Hopefully, by this time next year I have a plan in place to purchase the first true rental home for myself. I plan on spending the next year researching, putting together a plan, and saving $ to make it happen.

Does anyone have input on how much money I should have saved before moving to purchase that first property? Any insight into the first steps I should begin to outline for myself over the next year, or deadlines I should make for myself?

Hello everyone. I am brand new to BP as well as to the real estate world. I'm 31 years old and live in West Lafayette, IN near the campus of Purdue University, which I see as a strong and stable rental market. I'm a car salesman by trade and am here to learn everything I can about real estate investing before putting a plan into action next year. Car sales is not something I feel can provide a comfortable retirement for myself and my family which is why real estate intrigues me so much. Any and all advise is welcome and appreciated.