All Forum Posts by: Jay J.

Welcome to BP @Siobhan Louis !!You have already set yourself up for success by joining BiggerPockets!! This is really the premier place to start learning about RE and what it can do for you!

1. First things first, learn the basics --> http://www.biggerpockets.com/starthere

2. Then, download the BiggerPockets Ultimate Beginner's Guide and start reading some more!!
The UBG will will walk through many of the key topics of real estate investing. Ask anyone here, its an invaluable resource. --> https://www.biggerpockets.com/real-estate-investin...

3. Once that's done, get to listening to the free BiggerPockets Podcast - A really great podcast with interviews and a ton of great advice. --> https://www.biggerpockets.com/renewsblog/category/....

and most importantly, POST YOUR QUESTIONS!!

..after all, that's what BP is for. Good Luck!    :-)

You'd need to post more 'pretend numbers' to get a good answer to your question..

But in general, if you have 4 properties as compared to 2 properties, you'll have twice the number of roof repairs, water heaters to deal with, etc...

So, again..  post some 'real world' numbers and people will provide a good answer..

@Nick VehrHey @Nick Vehr !

I'm curious where this fourplex is? Is it in Cincinnati?  A fourplex for $55k & rents for $400/mo sounds like maybe c/d areas..?  maybe worse..  :/   (also, if its a real rough area, you might not be able to find good / affordable PM) 

I'd double check that "all units are rented" and 'no immediate repairs' . Besides that, you need to account for CapEx, taxes, misc repairs, etc...

If you haven't already, check out the rental calculator --> https://www.biggerpockets.com/buy-and-hold-calcula...

@Eli Sunderland I've wondered the same thing!!  While, I haven't posted the question, I'm interested to see the responses..

..for what its worth, I plan on putting the 'reserve cash' (ie, capex, repair, etc..) in my brokerage account. (I'm an options guy, and the 'reserve' could mitigate margin costs) I have an ATM card to the account, so its fairly liquid in the event I needed to withdraw from it..

...I'd love to meet the previous owners. Bet they have some awesome stories.

@Candy Marshall  Sorry, here it is -->  https://www.biggerpockets.com/real-estate-investin...

Welcome to BP @Zack Ellard !!You have already set yourself up for success by joining BiggerPockets!! This is really the premier place to start learning about RE and what it can do for you! 

I'm not an expert, but at first glance, I'd paying off those CC's. (You could always use that available credit if your flipping / repairs / etc..) Also, why not consider house hacking a multi-family or SFH?

1. First things first, learn the basics --> http://www.biggerpockets.com/starthere

2. Then, download the BiggerPockets Ultimate Beginner's Guide and start reading some more!!
The UBG will will walk through many of the key topics of real estate investing. Ask anyone here, its an invaluable resource. --> https://www.biggerpockets.com/real-estate-investin....
3. Once that's done, get to listening to the free BiggerPockets Podcast - A really great podcast with interviews and a ton of great advice. --> https://www.biggerpockets.com/renewsblog/category/....

and most importantly, POST YOUR QUESTIONS!!
..after all, that's what BP is for. Good Luck!

:-)

Welcome to BP @Charles Burns You have already set yourself up for success by joining BiggerPockets!! This is really the premier place to start learning about RE and what it can do for you!

"I've found what I think might be the help I need by taking the three day seminar with Prosperity Group (Tim Mai and AC Ramos)"  <-- Most people here will tell you that's a bad idea. Read the free info here, then use the money you have to buy a first property. Guru's are NOT worth it.

1. First things first, learn the basics --> http://www.biggerpockets.com/starthere

2. Then, download the BiggerPockets Ultimate Beginner's Guide and start reading some more!!
The UBG will will walk through many of the key topics of real estate investing. Ask anyone here, its an invaluable resource. --> https://www.biggerpockets.com/real-estate-investin....
3. Once that's done, get to listening to the free BiggerPockets Podcast - A really great podcast with interviews and a ton of great advice. --> https://www.biggerpockets.com/renewsblog/category/....

and most importantly, POST YOUR QUESTIONS!!
..after all, that's what BP is for. Good Luck!

:-)

Welcome to BP @Ben Raef !!You have already set yourself up for success by joining BiggerPockets!! This is really the premier place to start learning about RE and what it can do for you!

1. First things first, learn the basics --> http://www.biggerpockets.com/starthere

2. Then, download the BiggerPockets Ultimate Beginner's Guide and start reading some more!!
The UBG will will walk through many of the key topics of real estate investing. Ask anyone here, its an invaluable resource. --> https://www.biggerpockets.com/real-estate-investin....
3. Once that's done, get to listening to the free BiggerPockets Podcast - A really great podcast with interviews and a ton of great advice. --> https://www.biggerpockets.com/renewsblog/category/....

and most importantly, POST YOUR QUESTIONS!!

..after all, that's what BP is for. Good Luck!

:-)

As a noob myself, i would consider buying from a wholesaler for the potential savings from a typical 'on market' deal..   that said, not all wholesalers are honest reputable people. 

So, I guess you take the good with the bad..  (but of course, do your own DD on the property)