All Forum Posts by: James Trobaugh

For those who started out with little to no money, how did you manage, and if you could start over, would you take the same route, and if not, why? What plan did you use, and did that plan become versatile during your growth? Also, were there any unexpected problems or issues you wish you could have avoided? I'm interested in anyone willing to share, but more interested in those who started with little to no capital.

From my experience as a fairly new Investor (10months) I currently have 2 rental properties. I purchased my 1st from my parents using the creative financing called "Gift of Equity". I purchased my 2nd from an investor friend who sold it to me for a discount (45k lower then appraised value). I used my emergency funds, 401k loan, pulled from my Roth IRA to be able to put the 20% down to get it. Since it needed rehab (30 to 40k) I took a personal loan to fund the rehab. What I have learned since your new is try to house hack. Purchase a property with 3 to 5% down and get some friends or others to help pay the mortgage. Network with folks. Try to partner with others on deals. Continue learning from YouTube University. Save up your reserves. I'm learning this while going thru rehab that what you estimate always add 5 to 10k buffer. I would be happy to talk to you over the phone on what I have learned as well. Reserves are really important. I was looking into hard money loans but they all come at a cost. Your own money no one is charging you any fees. Best of luck!

Thank you for sharing your experience. I would love to talk sometime, I’m very eager to find others with experience and a willingness to share their experience. I have a lot to learn, and i hope during that time i can develop relationships with people in the real estate industry.

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What type of tax advantages? Do the tax advantages go unchanged, or do they fluctuate with the profit margins?

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Hello, and thank you for all the helpful advice. I'm interested in others stories and the journeys they took to get to where they are, especially those who started with very little. I'm not looking for advice on investing; instead, I'm just learning about other investors and perhaps hearing from others in my particular situation. I still have a long road of learning to do and would love to find helpful insights I might not find from the usual sources of information I read and listen to.

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Hello, this is my first time on Bigger Pockets. I've been fascinated with real estate for nearly a year and made a promise to myself that I would own my first multi-family at the beginning of 2025 and utilize my current time to look for deals and educate myself. My question is, to finance my first property, should I finance it under an FHA and live in one of the units for the year? Or should I break my promise to get into real estate in 2025 and continue to work part-time while going to college to afford a conventional 30-year mortgage on my first SF and use the "Building Wealth Through Single-Family Homes" plan?

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Oklahoma City, Oklahoma

All Forum Posts by: James Trobaugh

James Trobaugh has started 2 posts and replied 5 times.

Post: Curious How Others Started, and What They Would Change

Post: Curious How Others Started, and What They Would Change

Post: Curious How Others Started, and What They Would Change

Post: Curious How Others Started, and What They Would Change

Post: Living in My Investment