All Forum Posts by: Jimmy Deringer

If you get into a small multi family a lot of times you could finish a previously unfinished basement or attic and add one or two more units. So it's technically a "value add" but you're not necessary buying a property that NEEDS repair. Home depot has a line of credit and loans to pay for materials if you can do the work yourself. Otherwise hire it out and pay cash. Just an idea. 

You just need to research research research but there comes a point when you need to "ready, fire, aim" mentality. The hard part is knowing when you know enough to take the next step. If you get into a duplex in a b- or better neighborhood at the 1% rule then it's hard to mess that up as a house hack. I definitely recommend starting with that.

Because no one ever gave them the book "Rich Dad Poor Dad" when they were younger. :)

Welcome! I've heard good things about Wisconsin with heavy cashflowing units! Go Pack Go ;)

Where are you finding multi family's for $50k? is that per unit? WOW that's cheap if that's the total price. Talk with local hard money lenders and make sure you have conventional financing lined up to refi out the hard money lender. What are ARV's after the remodel?

I quit my job about 3 years ago and went full time into real estate. The last weeks I've put in some long hours setting up "systems" and upworkers to deal with repetitive tasks. They're not fun to implement but save so much time. What are you currently spending the most time on?

welcome! How are you finding potential deals? I'm investing over in the other side of the state. Let me know if you have any questions about the East side

I bought my first rental as an owner occupied duplex in Washington and was able to use 75% of the other unit's rent in the formula. If you're in the Northwest I can send you my lender name, otherwise happy investing :)

I second that. Seems to high for a mobile home park based on the cashflow

I just moved down here to Marina Del Rey, I'm not in the OC but I've heard Huntington beach is very nice! I believe that's considered Orange County! :P