All Forum Posts by: Nicholas Jasmine

Also,  I think it will be this hard to obtain properties until you get to four or five the compounding should take over.

This is the same problem I'm having.  I was wondering would pulling the money for down payment out of 401k be a option?  I find it amazing that somebody who just started and buy three or four properties in the same year.

cash flow is the only thing I think about.  Appreciation is a bonus.

Im thinking I will need 10 properties to cash flow about 3,000$.  That would allow me to find a job (9-5) at the house for sure.  

It's definitely sad to see places fall apart, but even savvy investors would have to buy and hold I mean hold for a long time because if your population has dwindled who are you going to rent it to? I think as long as we have this problem there should not be any homeless people.  Put them in the houses under the condition that they change their life, find work, and give back to the community.  If you ask me that's not much to ask for; in return they would be getting a free home and a new lease on life.

I would definitely let the old lady stay.  Having a long term tenant is what's most important, besides you can make that money up on another deal.

I prefer carpet in the bedrooms myself.  I paid 750$ installed from Lowes.  My house is a three bedroom home and each room is about 10x12.  This price included the carpet pad and removal of the old carpet and pad.

This is exactly what I did.  Benefits include being able to check on your property, knowing people in the community that will keep a watch, and you tend to know the area really well therefore easily to find deals.

i think you will learn most from doing.  The hardest part is taking that first step, but if done right will be well worth it in the end.  

I would not try to get around this.  The bank is protecting you in a way.  There letting you know it may not be smart decision to buy another property without having reserves.  Six months of house payments is not much to ask for after all. When I brought my primary home (used to the other as the rental) the bank wanted six months reserves, plus a lot of extra paperwork.