All Forum Posts by: Jared Garfield

@Account Closed, 

That's not a mathematical formula (I keep that in the spreadsheet).  That's more of a close ratio that I have observed.  We always deal with as exact numbers as possible, because you have to factor in all the real numbers that are actual or expected based upon market conditions and neighborhood climate.  If you want to schedule a call sometime I can go over the spreadsheets with you and show you the numbers and the corresponding relationship.

@Ethan Summers,

We are still buying two to three properties per month in Atlanta, and we also do meet up events for investors here, with great training and networking as well as deals to share.  In Atlanta right now you almost have to be doing off market deals, or searching the outlying areas.  It's hard to get cap rates above 8-9% in good areas.  I'm glad to be a resource, send connection request and that allows you to email back and forth.  @Eric Halverson is the foremost expert on Decatur!

This certainly sounds like a great service.  As an investor, I would check www.bestplaces.net and www.city-data.com for crime, educational data and income levels.  Neighborhood ratings are so subjective that you need to be sure that a turn key providers opinion of what a B or C neighborhood is what you would agree is B or C.  Talking to police who patrol the area or getting crime reports for the area (incident reports) can also be very helpful.  Trulia has that crime mapping feature and www.Familywatchdog.US is a great site that shows where predators live.  That's important when choosing a rental property from a liability and potentially a resale standpoint.  Also, always make sure that you have after repair value comps that support the suggested proposed value, and a total list of renovation costs.  Is there a rent guarantee, and consider getting a home warranty if the hot water heater, plumbing, hvac and roof have not been replaced.

@Mason Marin,

Great goals, and you have a great head on your shoulders, staying at home while you save money for a down payment on a couple of properties is brilliant!  That takes some discipline, but if you can get a couple of rental properties that cash flow enough to cover your own apartment then that's a great time to move into your own place!  A college degree will be expensive (I have one) and if you are only doing it to get a job you like better (it might not pay better than being a mailman) then that's probably not a great idea if you love real estate.  

Real estate can make you a lot more money than most careers.  Take an aptitude test, try the real estate license, earn some extra money part time and save those commissions for down payments.  Being a real estate agent won't make you the money that investing will if you do it right, but it gives you access and makes you more education.

I'm glad to help, having started much like you.  We might even be able to speed up your education process and help you find a great cash flow deal.  There is a lot to learn and you should start small.  Read Cash Flow Quadrant, Rich Dad, Poor Dad, Real Estate Advantages.  

I have market data that compares all of the markets across the country and am glad to share helpful information,

Brian,

Welcome to Bigger Pockets, I bought the entire Carleton Sheets Course in my early 20's and found it to be extremely helpful.  Robert Kiyosaki book series have great information as well and can be very informative!  

We will be working the St. Louis and Kansas City markets quite heavily and I will be glad to be a resource for you.  Reach out and let me know what you need.

@Jonathan Studdard,

You can certainly start with $10,000 either getting one great cash flowing rental or doing 3-5 land contract deals.  $10,000 should get you $3,600- $12,000 per year cash flow in your market depending on the strategy you employ.  I'm glad to help you as we are working in KC and St. Louis this summer.  Reach out and I will help you get started if you are coachable and willing to put some work in.

@Brett Thomas,

We would be glad to walk you through one of our next deals and let you watch as it goes through the process.  We are buying in middle Georgia and have 7 properties in Macon/Warner Robbins under contract right now.  Feel free to send me a connection request and I'll get you in touch with my assistant and we can see how we might help each other?  

I would recommend getting a start in single family or duplex-fourplex.  Four Green houses then the red hotel...just like Monopoly!  When I worked with Robert Kiyosaki he would frequently reiterate that.

@Latravis Brazil, @Eliot M.,@Jay Whitfield, @Matt Bell, @Nick West, @Joe Sillaman,

I am actively buying 10-15 homes per month in Montgomery, AL.  We have great resources for property management, construction.  We've done a lot of research on this market and are glad to connect.  Send me a connection request and let me know how I can help?

@Glen S. on his comments, which seemed fair.

Now if someone buys it and doesn't use it, then of course they aren't going to get anything out of it. Sometimes creating your own system can be way more expensive as you learn from trial and error than from buying a system.  Franchise success in the restaurant industry proves that right?  As far as cost, I did it for $300 per month for all three systems, and I think it's worthwhile if you put the time in.

@John Patton, 

Thanks John, we do a lot of investing in Birmingham, maybe next time I'm over there we should meet up at Dreamland for some barbeque!  My phone number and email are on my profile, don't be a stranger and let's see how we can help each other!