All Forum Posts by: Jackson Hulgan

@John Wijtenburg

This question can be answered by looking at things in an asset or liability perspective.

A rental home that is producing $500 in cash flow for you every month is obviously an asset. We should spend money to create this opportunity and spend more money to maintain this.

A $40,000 car/truck that does a job that could also be done for a quarter of the cost is a liability. This should be minimized to reduce risk and free up money to be used in acquiring more assets and maintaining those that we have.

@Jalen Chanthaboury

If you are able to fund the first few flips/rentals with your e-commerce store along with wholesaling another deal or two then I don’t see any reason why you can’t get started at 19.

Other commenters have mention getting a mentor to help guide you through this process and I agree with them. A more experienced investor could help provide knowledge while you supply time and money. After a few more deals are done the OTP door should open up.

I’m going to send you a colleague request because I think we could bounce ideas off one another and learn from each other. Good luck with your entrepreneurial journey man.

@Shawn Ziegaus

Using a property manager immediately takes around 7-10% out of your gross rent all while you are not learning the process. It is important to know the process of how to manage a property so that down the road you understand how a property manager should do the job for you.

@Kam Mill

Glad to see another person from Alabama on the site! Just wanted to say congrats on getting your first deal and good luck on your REI journey!

@Cyndy Lester

Check for liens on the property. A 10k duplex is awesome until you find out it has a 65k lien on it.

@Hani Alomar Who is telling you to wait? If I were to bet I’d say they are not investors.

@Andrea Williams Alright great! I appreciate it!

@Andrea Williams

Add me to that list if you get a meetup up and running!

@Bailey Masters I recently moved to Jacksonville, AL for school and have been trying to learn as much as possible about REI. Would you want to message some time?

@Gadiel Del Orbe

If you’re able to get an idea of how much you think your duplex will go down in value with this potential recession you can work that into your numbers and still be safe. Get enough equity in the deal so that you don’t worry about losing it to the bank or other lender. Pay cash and that won’t be a problem to consider.

If you’re getting 100% market rent on both units while netting 30% more than the mortgage payment and all other expenses then the market can drop a whole 30% (which is massive) which will only result in you breaking even. You would still have a property that is being payed down and will have cash flow until the bottom of the market.