All Forum Posts by: James Cash

Hey @Kadijah Hammond, I agree with Nimral.

In my experience, to do flipping well, you should have a great relationship with a hard money lender / investor, or start out with cash.

Wholesaling enables you to get your feet wet, with minimal liabilities, all while understanding the process.

Hey @Pat Bell, Welcome to BP!

Great strategy, keep it growing!

How's it going for you and your wife self managing that many units? My wife and I are up to 10 units, hopefully will be around 20+ at the end of next year. At this many units it's already getting a little crazy.

@Joshua Watanabe Welcome to BP! Listen to some of the podcasts, read the ebooks and you'll be way ahead of the crowd!

I'm a local investor friendly Realtor and a buy and hold investor myself. Let us know if you have any questions. The Alaskans on here are really great resources as well.

Hey @Sean Sylvester. I've done quite a few VA loans on fourplexes and have a few recommendations. There are a couple of local companies and a national one that I typically recommend due to amazing service to clients, and perks they offer specifically for Veterans.

Message me and I'd be glad to help!

@Drew LaCroix Welcome to BP and RE investing!

I agree with Jon about finding a path. It's all really about deciding which game plan is best for you, and to execute that game plan.

I tend to categorize people's investments in Real Estate much like Kiyosaki does with finance, between wealth building and wealth management. In wealth building (just starting out, early in life typically) you will most likely be highly leveraged, and the name of the game is to acquire as much real estate as possible.

I also classify RE Investing between creating portals of passive income (acquiring rentals) vs. making money (flipping / rehabbing). Depending on how much cash you have on hand, skills, networking abilities, long term goals, ability to take risk, your path might be different!

Talk with a local professional, or read and research.

Let us know if you have more questions!

Are they currently still paying you rent? Are the attorney fees you're talking about in regards to the attorney you will be using to file small claims against them?

@Ron Pearson nice to meet you!

I can tell you a few things about being in the industry.

1. You are correct about rental rates being high.

2. Duplexes are over-valued right now.

3. There is a lot of economic uncertainty.

I would not recommend buying a single family home right now, unless you never plan to leave that home. If your ultimate goal is acquiring rental properties, I would start with a fourplex. The good deals will come and go within 2 days of hitting the market. You can always value-add invest and buy a distressed property, and put some money into it. It sounds like you have some cash in the bank and may be able to do that.

Ultimately, you need to assess your long term goals, followed by the amount of risk you are willing to / can take, and what your current options are.

I also think our market is very unique, and unlike a lot of other major cities in the U.S. We are, in my opinion, really the only major metropolis in Alaska. That provides a unique position for us, our inhabitants, and our housing market.

If you want to assume very little risk, there is no harm in waiting a year to see what pans out. That said, don't try to time the market...it works very scarcely for people.

@Timothy W. I totally agree.

I submit 6-10 offers easily before some one takes the bait. A lot of other Realtors are insulted, or just don't get it.

If you use a weak agent, they have weak results. If you're scared of submitting a lowball offer, get out of the game!

Does this work in all states?

As far as leverage yourself, it's probably the best route for real estate investing. 3.5% down could get you a lot of return over the course of the term of the loan. Not to mention you can property hope, after you refi, into a triplex, duplex and single family home.

I did the owner occupy thing, and it worked out great. Plan on keeping that thing until I die.