All Forum Posts by: Dave Houser

@Bruce May  Thanks.  I will definitely focus on a duplex for the first deal.  Fits my financial situation better at the moment.

Thanks @Andrew Johnson.  I appreciate your feedback.

@Andrew Johnson as soon I posted this I had an email asking "How to start when you don't know where to start".  Maybe that is my problem. ?  Not knowing where/what to focus on.  This is my third month so I feel like I am learning a ton.

Deal 1- Offered the owner if they would lease the house to me with 6% interest over 2 years and I would then refinance after I made the 3rd floor into a viable 3 floor apartment.  The area is attractive to med students and young professionals.   I knew that I could get at least $4500/month in rent.  She declined.  When I approached her again I never heard from her.  No problem.  

Deal 2- Looking at a 5 unit apartment building. Turned down with financing due to not having a years worth of capital after paying off all my credit cards.

Any down payment will be split between my girlfriend and myself. Possibly take a loan from a whole life policy. If I need to look for other financial help I can check in with the CT Reia group.

Good morning.  So, yes, I am new to this.  I have worked in college athletics coaching (strength and conditioning to be specific) for the last 18+ years and have decided I am finally going to buy my first property for extra income.  Over, the last several months I have paid off 10 grand in credit card debt.  Now is the time!

So, I have applied for several loans even though I have little reserve funding except $13k in stocks which is proving to be my main hurdle.  I have been looking for owner financing mostly, but not found a property that fit my vision of creating log term value.

So, I read Brian Murray's new book and then Brandon Turners book on no Money Down and listening to every podcast I can from Bigger Pockets.  Man- I am ready for my first deal.  Until, once rejection after another.  Now, being as competitive as I am I didn't expect this to be easy.

Here is my question:

How do I put myself into a better position to move forward.  My thought process has been to create a plan.  Attack the plan.  Adjust as needed to ensure we win.  Re-adjust as needed to increase efficiency.  

I've noticed that writing a journal helps me keep a clear mind so, I thought I would apply my journal to the people on this site.  Any recommendations are greatly appreciated.

Dave