All Forum Posts by: Jacob Grant

Thank you Ivory and Ryan for the information!

After the period of time the bank requires to start counting rental income as income, do they use your NOI or your cash flow as the added income? I am wondering how it pertains to your debt to income ratio, particularly for a new investor looking to purchase their second or third properties.

Welcome to BP!

I know this is very much a depends on your own situation kind of question, but could use some advise anyway. I currently lease a car that due to an emissions scandal I will be getting out of my lease this fall. At the time I leased the car I had not yet discovered my desire to be a real estate investor so my financial mind was in a different place. Im trying to figure out a new game plan for when my lease is up. My question is, now that I am trying to save some money and watch my debt to income ratio, what are some of your opinions on buying new, leasing new or buying a cheap used vehicle, and which option might be best for a new investor looking to put away some start up capitol? I have a friend who owns two of his own successful businesses who swears by leasing. He values the liquidity of a lease vehicle and the warranty greatly. I can see tha validity of that but wonder if I might buy a cheap used car to avoid payments and deal with repairs as the arise. Thank you for your time as always BP!

Thank you for taking the time to reply to my post Shawn. Are there any unique circumstances to be aware of in the Janesville/Beloit market?

Wow that is incredible! I was just discussing my plans to start out in rental properties with a friend of mine yesterday, and I told him based on the research I have done so far that it seems like Janesville would be a great market to break into. You just confirmed my suspicions. Would you be interested in going out to lunch on me sometime and talk about the area?

@ Scott Schultz, Thank you for taking the time to reply. That is a great idea, I will definitely follow up on that. Is there an online source where I can go to find out where and when to go? @ Chris Heeren, Thank you so much for the advice, I will do that. I was reading your profile, and it appears that you are building a large portfolio very quickly. Are you investing in Janesville? I drive through Janesville a lot for my job and it appears that there is new industrial popping up everywhere on the south side of town. Is Janesville seeing a bump in job growth?

Good morning Bigger Pockets! As a new investor I find myself getting more excited with each passing day. I am learning so much through this community and the the many books I am reading. One thing I am curious about is how to find other real estate investors in my area. Are REA's the only option? Better yet what are some of the best ways to begin networking with local investors and people who may be tied to the industry directly or indirectly? I would love to hear, from anyone in the Madison area in particular, if there are any groups that meet up locally. Thanks BP Jacob Grant

Congrats!!!

@ Bryan Otteson Awesome, I sent my landlord an email yesterday to see how he wants to handle it. That is a great point about the 3-4plex. Ill have to do more research into it but that is a convincing point. Thanks for the reply, I appreciate it!