All Forum Posts by: Isaac Kuehn

@Ryan Schroeder

Thank you for the detailed advice. I really appreciate it. 

Can you tell me more about how you do your market research? 

@David Zheng

Thank you for the advice! 

I realized I posted this is the wrong forum after I posted. I apologize. I posted it in a different forum also. 

@Marcia Maynard

@Mike Schultz

My plan for after high school is go to a four university here in Minnesota and get a degree in finance. For work, I'll just being working part time jobs while I go to school. It will be harder to get financing which is a problem I'll have to figure out. 

@Travis Sperr

Im very interested in that! I'll definitely make it. That's really generous of you. 

@Deanna McCormick

Thank you for that advice, I will definitely check out MMHA! Is there anything else I should know what it? 

@Thomas S.

I have two jobs right now, one at All State working for an agency doing marketing work and helping them with organization on the digital side. My second job is cooking and serving at a restaurant in my town. I picked this job up because I make more there then my All State job. My goal is to save enough for a down payment on my first property so I thought it was the good idea to have a second job that makes more. 

For my career I've thought of doing many different things but I never fell in love with any of them which lead me to wanting to do real estate. For the longest time I want to get in to investment banking but I didn't have to live that lifestyle of working 100 hours a week. I also thought of working my way up All State, but the insurance industry doesn't particularly get me excited. My goal is to be a full time real estate investor, I know to get to that point I'm going to need a solid career to get the money I need to invest. I'm going to go to a university here in Minnesota to get a degree in finance and try to land a job with a bank in the cities. I would work there until I got enough rental properties to quit my job. 

@John Sanderson

I'll be able to do the maintenance on a property, there will be a bit of a learning curve for some maintenance tasks but I could get it done without hiring someone. If I couldn't do it myself, I have a very helpful step dad that would gladly help me with anything I needed. I'm comfortable with the idea of managing a property myself, I just need to learn more about what I'll need do and more reading on this site will help with that. If you know of any other resources that would help me determine expenses of a property and how to be a landlord I would check those out. But I have check the rental calculator more! 

Thank you for the advice! 

I'm currently 17 and i'm turning 18 very soon. I'm really want to make real estate my full time career. But, do this I need to get my foot in the door. I looking to buy my first rental property but I need some help. Below I have created a outline for how I'm going to get my first rental property. It doesn't have every little detail all I'm trying to outline the steps I need to take to begin. The biggest problem i'm running in to is how am I going to manage a property when I first get it (that is why I stopped the outline at self-management) and how can I make sure my month expense don't exceed rent coming in. I wont have very much money to spend on unexpected expenses right away but that is a risk i'm willing to take to get started.

Other than doing my own research and educating myself on this industry i'm working two jobs to save up for a down payment and building my credit up so I can get approve for a mortgage.

If anyone with rental property experience is willing to give me a few pointers on what direction to head in to get my first property I would great appreciate it.

Develop a plan- Whats the max price I can afford? How much can I afford for a down payment with the money I have?

1. • ARRANGE FINANCING: where can I get a loan from and with what interest rate. (Do this before I even look at a property.)
     • Realtor.com
     • Redfin.com
     • Zillow.com
     • Trulia.com

More importantly talk to real estate agent, give them my criteria and tell them to let me know if they find a property that fits.

Once I find a property talk to agent and make an offer lower then posted and start negotiating. To cover costing cost I will negotiate closing prices in the final sale price.

Closing costs?

Putting the house on the market- Putting the house up for rent either through a management company or I will do it myself.

1. Renter warehouse: 1 unit/
   • cost based on lease length or monthly payment based on amount of units
     • plus $99 setup fee
   • Renters warehouse: http://renterswarehouse.com/rent-your-home/pricing-summary/
2. Land lording myself??

Thank you! @Brandon L.