All Forum Posts by: Jarod Castaneda

@Ted Boucard 

Congratulations at taking the first step to your freedoms!

Something I learned...you must be laser focused and identify what type of property you want

1. Location

2. Property type

3. Condition of the property

4. Price Range

5 Profitability

Answering these 5 criteria will put get you going in the right direction.  From one newbie to another...I wish you the best of luck!!

Jarod

@Eric Mielke Thank you! And a congratulations to you is in order as well!

Oh yea, the inspection will definitely tell the story.  The house I picked was totally remodeled so hopefully I won't have too many issues and looking for zero.  Emotions are out the window...they have to be; that is a crash course I am learning!  Great to connect and look forward to hearing about your success with your first duplex!

Thank you Anthoney for that information!

So I know it is still a bit early to celebrate but I'm still going to share! 

I moved to Dayton OH from Reno NV on the 31st of January.  One week prior leading up to tonight has taken place:

I started to reading The Book on Rental Property Investing 3 weeks ago. I jumped on the BiggerPockets website 2 weeks ago and began listening to the Podcast 10 days ago. I joined at property investment group 7 days ago, listened to the webinar on 13 Feb and spent 2 days with an agent who is also a property investment owner. I just got off the phone tonight with great news. I just went into contract for my 1st rental property; 3 bed/1 bath single family home! I used the rental property calculator on Bigger Pockets and my ROI came out to 26.5% with a $323 monthly cash flow.

I will say this took every ounce of courage to pull the trigger...and I can't wait to do it again!!!

Good morning. I have been searching in KS for duplexes to buy and found one but it is outside the city about 40 miles. I ran the numbers and it seems to be a good buy but has been on the market for about 30 days. It is currently rented out but I hesitate because I feel the my market is small if someone moves out since the population of the town is about 2K people. My gut tells me this is not wise. Would you have the same feeling if you were in this position?

Good evening everyone, its great to have found this amazing website!  

I am fairly new to property investing.  I bought a house in the military and rented it out when we moved.  The house in Kansas has been doing great for us; so great we want to grow!  We moved to Reno and bought a house 2 years ago and now moving to Dayton.

We have about 100K equity in our home in Reno when we sell. Is it wise to use some of this equity (20-25%) to buy a rental in Dayton? We typically buy the home we live in with a VA loan and don't normally put a down payment.

Any advice would help!

Jarod