All Forum Posts by: Account Closed

Welcome Jamie! Hope everything works out with being a landlord to your friend. I have had bad experiences mixing friendship and living arrangements so I truly wish you the best! 

Are you primarily interested in acquiring more rentals, doing flips, wholesaling, etc ?

I just got home from closing on our second investment property. Our primary residence sits on 1 acre and is surrounded by another 9 acres of farmland including a large barn. The barn and farm ground is currently rented to a farmer for well under the 2% rule but obviously still made sense to buy it. I have some ideas on how to increase cash flow including framing in the open end of the barn as self storage: 

Sounds great @James Pearson, looking forward to hearing from you!

Is it currently being rented? How long is the lease for?

Welcome Kevin! Always good to see more Hoosiers on here

Welcome to BP Logan! When I was 18 I knew I wanted to live in my own home one day as well as invest in rentals and I knew that nobody was going to come along and hand me the money to do either. I knew it would take a lot of hard work to build some working capital and I knew I would also need to use some credit as well. So the week I turned 18 I applied for a credit card and used it only for buying gas and always paid it off. It was enough to give me good enough credit to buy my first house at age 22 (with 20% down of course)

That's my best advice - start building credit and learning how to use it as a tool and not a crutch. I wish you the best of success! Indiana is a great place to get started.

My wife and I are headed to Texas in May and spending a couple of days in Dallas to check out the real estate market. I am interested in turnkey providers and would ideally like to meet a few of the companies in the area as well as any BPers who have used turnkey in the past. If we have time I'd also like to talk to some of the local investor friendly banks. Does anybody have any tips for this novice out of state investor to make the best use of our short amount of time?

Welcome Mark! Always good to see fellow Hoosiers on here. Could you tell us about your 20 years of experience?

I would love to help you but I only have my primary residence + 1 investment property at the moment. Not exactly the breadth of experience you are looking for!

Welcome Jen!