All Forum Posts by: Jam Jackson

Jam Jackson I'm just starting out in REI. I have a duplex under contract and I was going back and forth on fha vs 10% down conventional. Ultimate Fha wasn't going to work for me cuz the fha appraisals have stricter property condition requirements than conventional route. It's more money down for me but the trade off is lower mortgage. Ultimately, the purchase price and rent potential make a difference for cashflow than how much money I put down.

In regards to tax benefits, my understanding is that the owner occupied portion will have tax benefits same as if it were like any homeownership. The rented portion will receive the tax benefits as an investment property. You can check out the real estate cpa blog where Brandon hall talks about the tax implications of house hacking.

@Jam Jackson Welcome to BP and all the best to you!

Jorge

Hi @Jam Jackson 

- Wholesalers, Bird Dogs, Direct Marketing, but mostly MLS believe it or not.

- For flips my minimum is 15% and up

- Buy and holds, my minimum is $350/net and up

- To buy anything under $50k is possible, however, you will most likely need to rehab

- Consider having a PM so you can focus on your business.

Jam, my partners and I will be waiting for your return. I'm excited to meet you. I read your website and it's inspiring!

Your journey of acquiring knowledge I resonate with! What took the longest for me was actually applying it and figuring out what worked and didn't work. 

Learning from my mistakes was the biggest hurdle. When I felt knocked down I didn't have anyone to turn to. My broker at the time didn't know and didn't care what I was talking about when I asked for advice. I didn't know about BP until a few years later. It wasn't until I started connecting with REIA's and meeting up with other investors I was able to connect the dots. For me it was there when I found my Real Estate Investing Leggs.

Here on BP and some local help I'm confident you'll meet your goals, however, after reading your website I have a feeling you'll go beyond your initial goals! The fact you have a website is impressive. The content you provide of your pursuit of knowledge is more like a journal! As I read your content I could hear how badly you want to learn this stuff! There is something else driving you and that's so obvious for me. Perhaps it's whatever your experiencing now since you're in a different part of the world? 

I noticed you're reading Hold, from Gary Keller. What a great book!

Please accept my colleague request! 

Welcome to BP! Stay engaged with BP and ask any and all the questions possible! 

When you get back your pursuit of local knowledge and how to put together what you have learned is only a REIA away. It is there you'll find the people who will help obtain your goals and smash them to only realize there is more to be obtain!

Really get to know someone in your REIA before moving forward with anyone. There are a lot of bench warmers who will talk the talk but haven't done one deal and they have been bench warmers for a long time.

You will learn who the real players are when you attend faithfully either locally and online. 

I wish you All the best!

Jam,
I haven't been to Daegu but I know of the area. There is a real estate group that meets in Seoul if you ever find yourself up there. They have an event this week on the Brrrr strategy and are planning to Facebook it live if you are interested.

This is my story and how we got started.

https://www.biggerpockets.com/renewsblog/ashleys-story

I invest with my husband and we have several others who are part of our team for managing, rehabs etc. It's complicated with living overseas but I know several people who do it and they all have unique strategies. Most people either higher professional management or they partner with others who live in the area and can help with management. When living overseas, my husband returns home for selling and purchasing. We are actually moving to China next week.

Hey Neighbor !!!

I Say this because I am from the Downriver Area ( Allen Park, Southgate, Wyandotte, Trenton, Taylor, Riverview etc ).

I Currently Live here and am Looking for my First Investment Property. ( Not Necessarily just here though ).

I Like the Flat Rock Area , Im Not Very Familiar with Garden City/Westland & their #s , But the "Downriver Area/ Allen park & Surroundings are right around 50k & Under.

When you Get Back ( Hopefully ill have Sealed Some Deals by Then ) Maybe we can Meet Up or Talk some More & Possibly partner on some Opportunities.

Jam,
I haven't been to Daegu but I know of the area. There is a real estate group that meets in Seoul if you ever find yourself up there. They have an event this week on the Brrrr strategy and are planning to Facebook it live if you are interested.

This is my story and how we got started.

https://www.biggerpockets.com/renewsblog/ashleys-story

I invest with my husband and we have several others who are part of our team for managing, rehabs etc. It's complicated with living overseas but I know several people who do it and they all have unique strategies. Most people either higher professional management or they partner with others who live in the area and can help with management. When living overseas, my husband returns home for selling and purchasing. We are actually moving to China next week.

Hi Jam!
I lived in Japan and Korea and invest in Ohio. I'm not familiar with your area but I've heard prices are fairly similar.
We find most of our deals through the MLS and they are under 50k. Average returns are about 20%. We self manage when in the country and hire help while overseas. Hope this is helpful. Where in Korea are you living?