All Forum Posts by: James Mandel Jr.

Kyle, first off thanks for all that.  That answer sums up what has been circling through my brain.  I thought about rent and did my homework on that, it will cover my expenses when I decide to do that.  My biggest problem is that I am depleting savings to get into it.  I have another property nearby which is a duplex.  I am living in half of it and the other side is leased.  I have a new tenant moving in my side May 1st.  So I will be making this new purchase my home, while doing some repairs.  I am a remodel junkie so I can do everything on the cheap.  Looking for a little sweat equity I guess.  But I am going in with 20% down.  I had to search to find a lender that would count my rent money as income.  It's been a battle.

I hear ya...can't go against the criteria.

I put an offer in on a 1934 bungalow style home.  I'm going to live in it for a year while I'm remodeling.  They are asking about 116k.  The comps are selling at 125k same condition.  I offered 105k.  The market here is exploding.  I'm speculating when I say this, but this area will more then likely be out of my price point real soon.  I'm buying this home to hold it long term.  If and when they come back demanding full price, what is my move?  It's unfortunately in a perfect location, so turning it down would hurt.  Help?!

I've heard great things about the beauty there.  

I would absolutely love to partner with a money guy.  I would be down to do everything else.  Coming across a money guy is the hard part.  I really appreciate the warm welcome Larry.  Keep in touch.

thanks Jon, I'm a Podcast addict.  I will stay engaged, I promise.  I'm pedal to the floor when I have goals to meet.  Thanks very much for welcoming me sir!

Thanks Randy!  I'm extremely motivated to keep progressing.  I really want to use my remodeling skills as a beacon for success.  I need the same thing everyone else does though...cash!  Thanks again Randy.  

You have guts!  Thank you for posting this.  What a true bad a$$!

So I recently purchased my first investment property in the form of a duplex.  I am living in one side and rent the other side out.  This was the smartest and quickest way I could think of getting my feet wet.  I have 10 years experience as a property maintenance man.  I have previously owned a remodel company in Phoenix AZ.  I feel it is a disservice to my future to not buy, fix, and hold real estate.  I'm hungry to learn.  I want in the game bad.  The debt to income ration stipulations of mortgages these days is putting a damper in progress.  Please advise.