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All Forum Posts by: Ian Jackson

Ian Jackson has started 10 posts and replied 46 times.

Post: Buying our first Home

Ian JacksonPosted
  • Aiea, HI
  • Posts 51
  • Votes 13

@Gabriel Beverly Read David Greene's Long distance real estate investing book. Blew my mind. Amazing book. 

Post: Buying our first Home

Ian JacksonPosted
  • Aiea, HI
  • Posts 51
  • Votes 13

@Gabriel Beverly Yes, i agree. I thought about the same thing but it just doesn't make sense to buy in hawaii right now. It's a sellers market. I'd say rent while you are in hawaii and buy a home when you move out to texas. That's actually where i'm planning to move to buy my first property. FAR more reasonable. 300,000 can barely get you a 1bd/1ba condo out here and you can get a 3bd 2ba for half that less than half that price in Texas. Whether you are looking for an investment property or primary housing, texas makes more sense. But before you buy anywhere, make sure the numbers make sense. Buy smart. 

Post: Newb to Real Estate!

Ian JacksonPosted
  • Aiea, HI
  • Posts 51
  • Votes 13

Greetings! It’s nice to see a fellow local. One thing you can do is get connected with the local rei’s, go to investor meetings, find the people who are looking for deals and try looking for them yourself and bringing the deals to them since you don’t have the funds yourself, if the deals are good and they sign off on it, it’ll make for good experience and build good relationships from people who can teach you even more, all the while making a little bit of money. That’s what I’m doing here right now 

Originally posted by @Andrew Postell:

@Dean Hamilton in general, the "portfolio" loans from the small banks here don't necessarily require a down payment. Meaning, that if the home appraises at $100k, and you can purchase and renovate at $75k or $80k, then the bank will lend you the full amount. Their thought is "we will lend to X of the ARV" and if you can keep all the costs at X or below you can be fully funded. Hope that makes sense.

Wait appraises as in after the repairs? Or before the repairs 

@Andrew Postell thank you thank you thank you for your fountain of knowledge.

So, i'm about to start my all out marketing campaign towards motivated sellers, even knocking on driving for dollars some, but i started thinking about the aftermath of the deal for the seller. What that is actually going to be like for them, i'm sure wholesalers have first hand experience with this, but what happens to them after? What if the money received for the sell, isn't enough to pay full price for a whole house in an expensive market? How do you guys help them adjust and transition to their situation? Probably a silly question but i'm going to be in contact with all these people and trying to help them anyway i can to make it a win for everybody, i have to make sure they are secure in this process

Post: Looking for Real Estate Agents

Ian JacksonPosted
  • Aiea, HI
  • Posts 51
  • Votes 13

@Carl S. i’m also interested ok properties in DFW that are multi family, I know it’s a big city, if you had properties in near Arlington or TCU, would be ideal for me 

Post: Common mistakes newbies make? What to look out for

Ian JacksonPosted
  • Aiea, HI
  • Posts 51
  • Votes 13

Thank you all for your responses. Really appreciate it all the assistance. 

Post: Common mistakes newbies make? What to look out for

Ian JacksonPosted
  • Aiea, HI
  • Posts 51
  • Votes 13

@Katie Stewart Renters insurance! of course. didn't realize that was a real thing. 

Post: Is this a good decision?

Ian JacksonPosted
  • Aiea, HI
  • Posts 51
  • Votes 13

and I wouldn’t blow everything at one time but I would start paying some of it off and putting in some repairs to build equity