All Forum Posts by: David Zachery

I would encourage you to seek out at least 3-4 small time local banks and ask them how the can help you in you situation, you might be surprised at the creative ideas you can come up with.

We baught our last forclosure at a huge discount from market value for only $1,800 out of pocket. Thanks to our local banker!

Holy Cow! Well then lots more to rehab?

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My wife and I are both self employed so on paper we don't show enough income for a loan for a property. This would be my first property. I was looking into a turnkey rental. Ideas? Keep in mind I'm new here and so would prefer details please.

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How do you find these kind of deals?

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I've been doing a ton of research in getting rental property. I believe it's the route I will take. Can you all answer a question though: say I have my 1st property (SFR purchased through a HELOC) and I'm profiting $200-$300/month. Then what? Do I start paying off the HELOC? Do I look for the next property? What are my options? Then when you have a few properties what are the best strategies to pay those homes off in the case of financing? Debt Snowball?

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Thank you!

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Hey all, where can I go to learn more about working with the notes side of real estate??

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Originally posted by @Paul Timmins:

@Brien Houston

Welcome. Thanks for your service. It might be a good time to have a short conversation with a real estate CPA. You can get some great advice about entities and tax strategies. Great team member for you get referrals from the local REIA.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 50 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Good luck

Paul

Being a total Newbie, can you please elaborate on your last paragraph here? Rather intriguing.

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Shaun, hey man enjoying the cold?! Are you new at this like I am?

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I've been on and off this website for close to a year, however my wife and I have dreamed of living near the beach in Florida for many years. Currently living and working in Kentucky. Our oldest starts kindergarten in the Fall of 2015.

We go back and forth on:

A) Moving to Florida
B) Buying a place near the beach to rent out and within 2-3 years spend summers there and rent it out the rest of the year (my parents did something similar).
C) Renting our house in Kentucky and moving to Florida

We have equity in our house ~$30k, just need the guts to pull the trigger. Since we're expecting our 3rd child in May of 2015 I'm thinking this is the year for research and not a big move.

From everything I've read on here its no secret this is a wonderful community. I welcome all encouragement and advice.

Thank you!

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All Forum Posts by: David Zachery

David Zachery has started 19 posts and replied 53 times.

Post: Self employed income too low

Post: Self employed income too low

Post: Self employed income too low

Post: land contracts

Post: You've acquired your 1st prop, then what??

Post: Get started with notes

Post: Get started with notes

Post: Why form an LCC?

Post: Long distance rental property near the beach.

Post: Long distance rental property near the beach.