All Forum Posts by: Jaron Tibbe

awesome, thanks guys

Hello there, I am new to real estate investing and I would love to connect with a group or mentor in the Grand Rapids, michigan area. I currently operate a carpentry business and I have about 10 years of construction experience. What I do not have is investing experience. If anybody can help, I'd greatly appreciate it. Thanks

Originally posted by @Ivan Oberon:

@Jarron Tibbe Have you considered doing some trust deed investing to flip your money a couple times per year, get a higher return and grow those funds?

 I'm new to this @ivan Oberon . Could you explain more?  

Originally posted by @Blake Densmore:

I would look for a 80k house in your area that you can rent for $950/month. Take 30k of your 50k as a down payment. Finance 50k for 30 years. Your principal and interest payment is approximately $300/month. That would leave you with $650/month cash flow on the rental house. Out of that you of course have to pay taxes and insurance, but you would still have some cash flow coming to you that would be more than just leaving it in the bank. The next 25k or 30k that you get...do it again.

 If I use the 50% rule, wouldn't that work out to 7% roi?  950 x .5 = 475 - 300 for mortgage = 175 x 12 = 2,100 net.  2,100 / 30k = 7%.  Or am I missing something?

thanks for the help.  I forgot to mention that I have 10k set aside for the remodel, and I plan on living there until I had enough saved up to renovate my next one.  I also have a 15k emergency fund set aside for my personal finances.  So with that being said I have 50k to work with.  I've always been really conservative with debt, so this whole process is really new to me.  

I've been a fan of Dave Ramsey for quite some time.  I've lived my life pretty much debt free even before I heard about him, and was looking for some input on getting started.  Here's where I'm at:  sold my primary residence and profited 100k.  I just bought a fixer upper that I intend to live in (I'm a carpenter by trade) and that will leave me with 50k to start my rental company.  My credit score isn't great (lack of history mostly), and it's at 618.  Does this even qualify me for a loan?  Or should I stick to straight cash purchases.  Thanks for the help.