All Forum Posts by: Jacob Parrett

Quote from @Kerry Noble Jr:

I can help you! lets connect

 Awesome your super close to me as well like 45 min I messaged you back

Hello everyone I’ve been tossing around ideas of how to fund building my portfolio and have been into a ton of research on whole selling. The part I’m stuck on is finding cash buyers to buy the contracts and how to even sell the contracts I have a good understanding of how it works but it’s not really explained in detail maybe I’m just over thinking it as well thanks in advance for any help

Quote from @Eliott Elias:

Quote from @Jacob Parrett:

Quote from @Eliott Elias:

Let me ask you this, why do you want to get into rentals? Is it the cash flow? Is it the appreciation? Have you heard countless gurus tell you that rentals will make you rich? Just curious.

For multiple different reasons, I wanna help people with good rentals and stable housing, I want to create a more passive income and grow the value of my portfolio and one day I would like to achieve financial freedom I know that all this takes time and hard work of course

These are all great reasons. Unless paid off, it takes over 20 rental properties to create passive income (assuming they cash flow). 
Contrary to popular belief, single family rentals are the furthest thing from passive. Even with a property manager involved. They demand your attention constantly with turnover, evictions, make readies, missed rent payments, etc... 

 This is not to shed doom and gloom, this is to set realistic expectations. 

 I figured it wouldn’t be until down the road I intend to try and rent to mostly section 8 but I intend to manage myself till I feel the money is good enough I can put my time in other things

Quote from @Eliott Elias:

Let me ask you this, why do you want to get into rentals? Is it the cash flow? Is it the appreciation? Have you heard countless gurus tell you that rentals will make you rich? Just curious.

For multiple different reasons, I wanna help people with good rentals and stable housing, I want to create a more passive income and grow the value of my portfolio and one day I would like to achieve financial freedom I know that all this takes time and hard work of course

Quote from @Bruce Woodruff:

I agree, wait and save money. Remember the less $$ you put in, the higher your payments will be. And you absolutely need something for repairs and future Capex, right?

What do you recommend as a starting point of capital before investing 

Quote from @Michael Dumler:

@Jacob Parrett, if I'm being honest, absolutely not. Moving forward, focus on increasing your savings rate before investing in any asset. Read "Real Estate by the Numbers" by J Scott and Dave Meyer for further insight. 

 I honestly thought it was a shot in the dark but worth a shot to try was just trying to speed things up a bit because truly 1k isn’t a lot to begin with 

Hello everyone just looking for some advice to get to enough to start buying rentals I have about 1k currently is there anyways to turn that into more money 

Hello everyone my name is Jacob. I’m here to learn more on rental investment and how to achieve my financial freedom. Hope too see everyone in the forums have a good day