All Forum Posts by: Jared Smith

@Olivia G Gonzalez what is your expectation on time horizon to reach your current goal $2k/month? 

You will find that your passive income will grow the longer you have the properties due to rental growth over time so time in the market will beat timing the market every time!

@Gopi Goswami welcome and congratulations on getting started! Have you narrowed down a locations yet? We work with many investors in New Jersey, New York, and CT on but and hold strategies in the Midwest/Midsouth. 

Good luck getting started!

@Tyler Green thanks for sharing a bit of your history and I'd be happy to share some markets that I have seen many investors find success. I am a retired Navy Submariner and have lived in lots of markets around the US. I have found success in the midsouth markets and Memphis in particular for us has been great. High rental demand base, loads of blue collar jobs supported by industries like logistics, distribution, medical and medical device industries, and soon Ford will be opening their $6billion plant 20 miles outside of Memphis but that area will pull employees from all over the Memphis area.

reach out if you have any questions!

@Owen Phillips not that this isn't feasible but it will be difficult. If you plan on being a very active investor, it's possible but you will need to keep the velocity of your money up high. When using leverage on both end of a financing deal, it's really difficult to make the numbers work on long term buy and hold strategies. If you are looking to be very active and run like Mid or short term rentals yourself, or do flips, then you can, but this does not come without risk. 

if you are looking to pull money out and put it to work in other real estate so it can appreciate over time so you have a larger base of assets that are paid down or off in the future with some cost now, then I do think that is possible. 10% returns as a passive investor, especially in the first couple years is not likely. 

Do you work full time now? Are you willing to or can you afford to run some rentals or projects as a side job to take away from your primary role? 

I imagine there are some people on here that have used small business loans for this type of business or any business in general starting out. I have not personally but maybe someone could comment on that option.

Good luck!

@Isaiah Murray you are going to likely get many different answers here and the one I'll start with is... it depends. It depends on various aspects like how involved you want to be, how much time do you have, do you want to do renovations and select tenants yourself or are you happy to turn all of this over to a company that does all of this for their livelihood and just grow a portfolio with them? 

Do you have any specific parameters or guidelines you can share to start? Any specific goals? 

@Hemanth Rudra, welcome to the forums. If you have not already been following or listening to the various BP podcasts, I recommend starting there. You will start to get a feel for what path in real estate investing you are interested in and what may be best for you. 

The forums will provide plenty of opinions on all the various topics and questions you could dream of!

Best of luck finding your footing, it's a great way to lay the foundation for wealth building!

@Natalie Pancoe It sounds like you all may have a solid foundation to build on. Are you looking to grow locally, out-of-state or no preference? 

I'll reach out to share a bit more about what we do if you are interested in hearing another perspective.

Amber, have you thought about shifting to a more passive form of real estate investing? Where are your homes now? Are you looking at a specific timeframe or would you be looking to sell your current properties individually?

I sent you a connection request with some more information if that is something that you are considering.

@Manasseh Dike, welcome to the BP forums! I always like recommending creating a short, mid and long term goal to help guide you. In your case it sounds like your short term goal is to acquire your first property. 

Now break that into actionable steps. Determine a suitable market, type of home, and satisfactory set of financial conditions for your purchase. You will want to evaluate risk but don't let it paralyze your decision making. Stick to the middle of the road areas where in price and area and you will find a deal and the residents looking to rent that home!

Wishing you the best as you get started. Reach out or schedule a call if you have any direct questions, I'l be happy to answer them all!