All Forum Posts by: David Horton

 That makes sense, and hopefully it will be my world!  I am in the planning and learning stage, drafting a plan and vision.  Thank you for your insights.

I've been reading more of this forum post as creative financing and no down-payments interest me.  One, I have no money for a down payment!  Two, for those who have money, I tend to think of deals with down-payments and turn-key rentals as "low hanging fruit."  If you have the ability, you can walk in to a bank and get a conventional mortgage easily and start cash-flowing immediately.  The really good deals take time and effort as @Ben Leybovich points out, as he only has done one deal a year.  

So it is a matter of how quickly and immediately do you want a deal?  They are easy to get with money down.  But if you wait and look and be patient, you can get truly amazing deals with no money down, utilizing OPM, having a smaller share in more properties than a huge share in just one.  I go back to McElroy's book, I would rather have 10% equity in multiple big properties than 100% in one property where everything is on the line.  I think multi-family units and apartments could be the way to go for me, if I put the effort and time in to studying cash flow operations and creating opportunities.  I will have to study more on this, but it seems this strategy could be really promising for me.  But also, each person has different situations and circumstances.  So it seems finding the right strategy for the person is key.  Like @Ali Boone says, find what you enjoy doing and do that.  Don't force yourself to do something that you are not designed and have no desire to do.

 I agree.  If you read Ken McElroy's ABC's of Real Estate Investing, that is the #1 myth that he addresses.  You don't need to plop down a down payment on a deal.  A deal should be so good that investors will be lining up to be a part of it.  And he is talking about getting a $9 million apartment building and not putting a dime of his money into the deal!  He gets 10 % equity and when the building goes up to $11 million and they refinance, he pockets $200,000 because with real estate like that, the operations and cash flow determine its value.  I agree completely and that is probably what I desire to target.  Just focus on finding good deals and running numbers showing that it is good cash flow and create the opportunities instead of looking at "for sale" signs or craigslist ads.  I recommend his book and it is a great read.  Opened my eyes to a lot of things.

Hi!  I'm a single dad also with a full time job and full-time parenthood (I have full custody).  It is probably just me, but I am poor in three areas: time, money and energy.  How do you find abundance and make the most of what you have in these areas while you pursue real estate investing?  I want to gain financial independence but my road seems so long...seeing your post has been an encouragement for me, however.  Best of luck in all you do!

Thanks, @Elizabeth Colegrove !

That makes a lot of sense and is a strategy I am seriously considering.  Buy and hold, starting out with maybe getting a duplex or triplex and renting out units while living in one.  One question I had, however, was how many "mortgages" you can have at a time while building an investment portfolio.  Are there any private lenders out there who specialize in buy and hold strategies?  I know I have seen some that work in the fix and flip rehab arenas.

Thanks again for your reply and advice.  I saw your site too and signed up on your list!  Looking forward to seeing some awesome content there too!

Take care.

Thanks, @Michael Lee !

This site has been amazing so far.  So many people willing to help and pay it forward from their successes.  Looking forward to seeing you around too!  I am planning on going to the 9/30 Meetup here (http://www.biggerpockets.com/forums/521/topics/147107-las-vegas-area-meetup-september-2014).  Excited to start meeting new people and surrounding myself with wise counsel.

Thanks, @Brandon Turner 

I'll set those up and have already started reading through the book!  It's really great to have this community and help as I get started.  I'm also starting to participate in local groups here as well.  I appreciate all you guys and gals do here.

I currently rent, but it is very cheap.  My question is, would it be prudent for my first deal to find myself a good place to own, and then use the things I've learned and the contacts I've made from finding my own property to getting an investment property?  Or should I start looking for an investment property now to flip and use that money as a down payment for something I could even possibly pay all cash for and live rent-free?  Am I putting the cart before the horse?  If you were in my position and starting out, how would you proceed?  Thanks so much for taking the time to read this!

@Joe O Thanks, Joe and @Bill R. !  I signed up for the meetup group and am seeing if another of my friends who does contracting work can come.  Thank you everyone for your comments and advice - just within a few minutes of posting my introduction!  This certainly is an active community.  @Rick H. , I do have a nice family from my church who is helping me with my son, so I do have a little bit of time and flexibility to work with, so I want to maximize my time and spend it in the best possible way.  I am going to attend the Meetup in my Las Vegas area and start to network with some folks and continue my journey.  Thank you, everyone!

Thank you, Elizabeth!  More awesome stuff to learn, check out and read.  I like your strategy too.  I just have to weigh all things and develop a good goal and strategy.