All Forum Posts by: Jacob Sloop

Congrats!!  Great way to get started and the house looks great

I have had a positive experience.   I have saved money on commissions for the deals I buy, it was a great education going through the classes, I can always help others buy deals and bring in some extra income and expand my network

Sent you a message!  Good chatting with you

Start small.

Get the first property.  It doesn't have to be perfect. No big construction projects.  Real estate is forgiving, and the longer you own something the better it looks.

Congrats Russell!

You have no doubt educated many more people than you even know

Talk to a lender.

They will be able to guide you an what you need to do in regards to what you can afford, loans available, if your credit needs work what to do to improve it etc.

Thats step one.

Step 2 is start tracking properties for sale and rent prices.  Learn to run the numbers so when you jump in you have a good idea of what's realistic.

Think about how people drive a rental car...

Maybe as someone mentioned it could be a low powered boat.  We have rented houses in the lake gaston area and there are boat rental places on the lake we've used but haven't had a house that included the boat with the house. There is usually a boat that belongs to owners there but not available to guests.

Dont buy an old house.

Dont change the layout.

Get a contractor to walk the property with you.

Know your margins in the area.

Pick a property that's around the median sale price for the area.  Don't go too low or too high.

Make sure you understand the costs involved with the hard money if using that.

Its scary the first time but you can do it!

Welcome!

I'm up the road in Virginia Beach ;)

Would love to hear more about the Outer Banks STR's, have been interested in that for awhile... go there every year

Nice work.

This is in blacksburg sounds like?  Should do well!

14k to get in is a great deal