All Forum Posts by: Jared Smith

@Eshe Harvey so, how did the coffee meeting go?

@Adon Ripple one thing to keep in mind is to have a plan for the first few months of what happens if you have a major expense in the first few months when your capital is depleted. Assuming the duplex and area are ok, your capital issue is what I would try to resolve. Maybe you can pay a little more and get cash back at closing from the seller, or if they are seller financing maybe you could negotiate a lower down payment. Don't just assume that the first set of loan criteria that the seller threw out is the final answer, you may have room to negotiate! Good luck

@Eshe Harvey It sounds like you are exactly the type of person that a mentor likes to talk with. Someone that is passionate enough to ask for a meeting and humble enough to prepare for that meeting. Successful people love to share their experiences and I find that particularly in real Estate people are willing to take time to share, educate, mentor, or motivate people who have an interest. I think that is really all it takes. Be interested in what they are saying and they will likely be very generous with their time! Good luck at your meeting, but doesn't sound like you need it!

@Michael Salin Welcome to BP! Do you have a timeline for your first deal? Align your goals with action and you will do great!

@Bryant Jaske-Moser I just secured one of my new investors a deal today with $175/month CF and another $175/month principal payment from their renter. Over the life of the property renters will pay down the loan and pay for any maintenance or repairs that are needed, all while paying down the entire mortgage! 

Putting money is your bank account is one thing, adding to your net worth is another. Principal pay down doesn't sound sexy, but it sure is nice to see when you get that mortgage statement!

@Bryant Jaske-Moser this is the common thread I see and deal with everyday with my clients. Sometimes it's challenging for me to get my clients on the phone because they are so busy, so if they don't have time to take a phone call because they are very busy, they need a quality turnkey company to cover those management duties.

I wish you the best and it sounds like you know what you need to do if you want to expand at this time.

@Jaime Zarate, welcome to the perpetual conundrum of real estate. If I had to guess, I would say your people around you are not investors themselves or their perspective would likely be different. The reality is that you can find good, solid, base-hit deals in pretty much any market. If I told you you can get into a deal and in 5-7 years the appreciation will likely exceed what you put down even at 30%, not including equity pay down from the resident and potential passive income on top. Would you do that deal today? Because I have dozens of those. 

Surround yourself with real estate go-getters and you will find deals!

@Nathan Brown this answer will totally depend on goals, time of life / real estate journey, and many other characteristics, but I would look at one of two things. In my new job I am just too busy do a bunch of work on properties like I have in the past so I would look for a passive investment where I still own the asset, not a syndication, I am not ready for that route. I would likely look to leverage that safely over 3 +/- 1 properties and start building out an appreciation base. In 4-5 years I would looks to refinance and pull out the equity in the best performing homes and expand my portfolio if it makes sense at that time. 

I feel like home prices are going up either due to inflationary pressures from tariffs or when interest rates go down, it is going to unlock the floodgates of people that have been holding onto their homes with lower rates and now looking to upgrade. I guess only time will tell!

@Bruce King, determination of a good deal is very subjective. Someone looking for a safe haven for cash from the stock market may be fine with a deal that holds value against inflation while the craziness is happening with stocks, but someone who is just starting out may need a little more meat on the bone.are you looking to invest locally on a hands on project or are you looking for out os state options with a turn key company? I would recommend picking a strategy and focus your efforts on that one, maybe two things. Chasing to many different strategies at once will prevent you from being successful in real estate, in my opinion.

@Niranjan P Ghate I totally understand your dilemma and we work with investors just like you everyday and everyday we also work with investors that were like you are today, but 10 years ago and now how flourishing portfolios today. Just today I spoke with 3 different clients of mine that have had their resident in their rentaL home with us for 8+ years.