All Forum Posts by: James B.

Hi @Mike D'Arrigo- I'll look at anything.

Prefer no basement.

I received your PM! Thanks @Shawn Holsapple

Hello All,

I'm currently investing in the Indy market in single family rental houses, and I'm looking to purchase again.

My criteria is simple and general, as I have an agent and property manager in the area that can go and view the property:

At Least 3 beds, and at least 1.5 baths.

That's it- I'm willing to look at anything!

Please PM me, and we'll talk!

-James

Work backwards. You will be old and tired one day and you will need income to sustain yourself.

At 19, one can not understand that life is short, but long enough to live.

At 19 today, you have infinite knowledge, and accessibility (thank you internet), you just don't have the experience to see the cycles of life. It's not so much knowing what you want, but shedding that which you don't.

Easy peasy :)

@Vivian Hernandez

Turn-key is not fully passive, as it takes effort on your part- but again, what's your time worth?

I think @James Wise and @Jay Hinrichs said it: you must vet the team and manage those that manage your property. Go meet them and do a tour of the market with several providers, talk to several Property Management companies.

Technology is also your friend. Have your PM's send you videos, pics of everything, if they perform any work, know what is a fair, competitive cost. They must account the income and expenses of the property with a software platform that you can log into and track. Also, email, text, Skype, and BP are an efficient way to communicate with your managers.  Ask tons of questions and learn as you earn-good luck!

This is my lender on my last 3 properties, looks like they'll go 75% of LTV for a heloc on a "second home". See link


https://www.talmerbank.com/PersonalBanking/ConsumerLending/HomeEquityLoans

@Nick Noon @Jay Hinrichs @Joshua La Pointe

"Speak softly and carry a big stick; you will go far."

- American president Theodore Roosevelt, January 26th, 1900. 

To @Anthony Gayden's point:

Gulf Shores, AL? Never been, but I agree with @Roy Oliphant specify climate and continent (even language). Do they want to be Ex-Pats with a different currency?

I could go on for hours :)

Thailand is nice :)))))

@Andrea Thurau

I know my lender does 10 mortgages now, but when I started investing a few years ago, the limit was 4.

I wouldn't worry too much about the number of mortgages you can obtain, as the rules may change. Just get started!