All Forum Posts by: James Cash

Hey @Wade Stahle, what kind of property are you looking to buy as a rental? Single family or multi-family?

Also, are you looking in the Valley?

My answers may change depending on these factors.

I will say, from a state legislative perspective, if the price of oil continues to stagnate, or drop, we won't see any sort of downtown for about a year. I would imagine the start of the second quarter of 2017. So you might have to wait it out if you're looking to wait.

I'm an advocate of making a move when you are ready and not trying to time a market. Just make a wise choice, know your numbers, and pull the trigger. If it's not a great deal pass on it and wait until you do find one.

Welcome to BP @Kevin Stearns! Sounds like a solid game plan so far.

How long have you been investing?

Nice to meet you Cheryl!

Have you done any deals yet in town on the wholesale side of things?

Welcome to BP and REI Investing Rashaun.

I would start by getting some of the BP eBooks and listen to their podcasts, they are amazing.

What are you looking to get into first?

If your wife is able to qualify on her own, yes. It should be no problem.

If you have to qualify together (due to purchasing power, i.e. she doesn't have enough income), it may be a bit trickier.

The FHA doesn't like to give out FHA loans to people looking to build their "portfolios." Which you would be doing.

Most likely, you'd have to give them substantial reason why the new fourplex would improve your quality of life. Maybe you're moving into a place closer to work, nicer neighborhood, maybe it has one more bedroom.

All and all, this sounds very do-able.

@Andrew Knoll Hey Drew, welcome to BP and AK!

A bunch of awesome people around these parts. THere's a couple of local real estate investment meet ups as well that meet up about once a month.

Don't forget to start listening to the podcasts if you haven't already, they are a wealth of great information! 

Hey @Marvin Romero , glad to see you on here!

@Tyson Cox has a real estate investment meet up group down there. You should connect with him.

Welcome and get ready to get some great knowledge! Make sure you listen to the podcasts as well, there's some gems in there.

Everything has potential risk. That aside, from the numbers side of things, sounds like a great deal.

I would ask, is the potential motivation of the current tenants enough to make sure they buy the house? In my experience, everyone wants to own a home, even those that aren't capable of being responsible and taking the appropriate steps with their finances. If they are serious, maybe make them pay slightly higher monthly or have a non-refundable down payment.

Welcome to BP! This is a great community with awesome resources. What did you do before RE?

That's awesome. The ROI on that is great and you'll get your money back in no time. Good job!