All Forum Posts by: Evan Smeenge

All,

I have $30k to invest... What really is the best way to invest that money, best return? Stocks or Rentals? Why?

Thanks!

@Basit Siddiqi

Explain rental income vs profit!!!

So,

Let's say I have $4,000 per month profit in rental income, how do I legally take a cut of that...

I'm formulating a plan to get enough rental income to pay my own personal mortgage, how do I do that?

The money would be in my LLC, do I need to take a salary?

Looking forward to answers!

I am trying to find other ways to invest in real estate without using my own money. I have heard that using hard money to start a BRRRR strategy and refinancing to pay off that hard money lender is a good way to do it.

I'm very confused on the refinance and repeat portion of the BRRRR strategy. I refinance to hopefully be able to pay off the lender, and then when does my profit come from?

If someone could break down the strategy when using either investors or hard money loans... And maybe three building types, a turn key, minimal fixes, full rehab.

Thanks!

I'm curious.

How many of you feel you are making a lasting impact in society?

This is a question I think about on a daily basis, perhaps you do too.

I am a non-profit worker and will most likely be for the rest of my life. I never really want to leave my job to do real estate full time, perhaps for a year, but i'm sure i'll get board, fat, or both. I cannot stop thinking about how I could be a small change in a massive societal problem: poverty.

Poverty stems from many things, main things that kill people are lack of examples of success, lack of education, lack of opportunity, thinking you are stuck in your neighborhood etc. Tons of things go into poverty, and many things come out of poverty: crime, homelessness, perpetuating poverty, etc.

I'm wondering how many of you have attempted to do something in your buildings to help alleviate some sort of poverty? Maybe you give away a unit, maybe a whole building, maybe some of your profits.

Just curious!

@Keith J.

I live in Chicago and want my focus to be here, but with some easy grabs in my home town (W MI)

@Chase Louderback

Sorry, yes, those are just numbers. I'm assuming i'll roll most of it into the mortgage.

@Chase Louderback

I'm not sure that sounds logical to me. I am not sure what you mean by the capital I would have to bring with $250K home and a 3.5% DP with a rolled in closing (which is not displayed in the spread sheet). The 25K renovation may get rolled in with a 203K. But the average rent is as such and cannot be bolstered to a staggering level to try to make the numbers work.

I'm from west michigan, I think I could do better in Multi-family properties there, seems the numbers and logical rent prices go together well. And easier on my wallet as conventional mortgage.

@Joseph Konney

Elaborate?

@Jay Murakami

Sorry, I don't understand your question.

@Keith Jablonowski

How can anyone buy a duplex then. A duplex will never get over around $3000 per door in rent (thats astronomical in itself), which in essence is a 300,000 home, or less.. Am I just dumb, or is this almost finding a needle with a broken tip in a stack of perfect needles?!

@Daniel Weber

Yes! The only numbers I feel good with tinkering with is what I buy, and where I buy. Lower property cost and higher rental cost.