All Forum Posts by: Jeffrey Albaum

Hi @David-Randall Chugg - first off, good on you for taking action! I know it can be frustrating when deals don't get done but you're going to look back and laugh about these times when you're big time! In addition to what everyone else has said - I'd focus on making offers. Sometimes it take 50 offers before 1 gets accepted. Once you know that, it makes it easier to stay motivated if you've already made 25 and feel like it hasn't gotten anywhere you know?

Hopefully that helps and keep getting after it!

@John W. As a few others have said - Ohio is a great state to invest for cash flow! If you want any recommendations for folks in the Northern Kentucky/Cincinnati area - feel free to message me!

@Justus Angan check out the latest BP episode (#569 as of this writing) - they do a really good job breaking down the difference in "risk" of owning properties outright vs. having a mortgage on them...was very interesting to think about it from that perspective.

Hope this helps!

Hi @Fisher Hudak. Stoked you're starting your RE journey! A few folks have mentioned it already but if you know you're going to be living in your town for the next ~2 years at least - one of the best ways to start out is to buy a house that you can either rent out the rooms to your teammates/friends, or a multi family building where you can rent out the other units to teammates/friends. That way they're paying down your mortgage for you! Plus you can use a low down payment option to get into the property because you'll be living there. 

Also - if you have the time, you could think about getting your real estate license in Michigan and begin working as a realtor in your local market. Hope this is helpful!

HI @Will Houston - sounds like an annoying problem! For starters, I don't think it's on the mold guy to not want to move the air handler. We unfortunately live in a very litigious society and he was probably just following his companies guidelines and policies. That being said, I imagine if you call another company and explain the situation and let them know you want to find/remove all of it - and can show them the areas you've already found, that might be worth it in the long run. As far as company recommendations I don't know any in the Tampa area, so I'm sorry that's not very helpful! Best of luck to you.

Hi @Ana Mocanu - congratulations on starting your out of state investment journey! It's a wild ride for sure! 

I think a lot of folks have said this already but don't feel like you need to hit a home run where you're cash flowing 15% AND in a super fast appreciating market AND you get a great deal off market AND it's turnkey you know? I'd focus on one of those areas and try to get a base hit to start you off, and then snowball from there. 

If you're looking for homes under 200k, I know the Midwest is a great place to try out! I've had a fair amount of success in Cincinnati, which has some major companies headquartered there, as well as a few professional sports teams. It's definitely more of a "cash flow" market as opposed to an appreciation market, however in the last few years it's appreciated quite nicely as well. So give it a shot and let me know if you'd like any contacts! Hope this helps and best of luck!

Hi Will! Stoked you're starting your investment journey! Even though it's a small amount - you could look into investing into a real estate investment trust (REIT) if you wanted exposure to real estate but not actually buy into a direct property. You could also spend that money and go to an investing conference or join a mastermind group...the best investment is always in yourself right?!

I think you hit the nail on the head when you identified that you're quick to buy the book or buy the seminar, but have a hard time with the analysis paralysis part, and sometimes reading another book or taking another class is really just us procrastinating but telling ourselves that we're learning.  It does really just come down to you deciding to take action and purchase a property. That becomes a lot easier when you have the cash to do so - so either save up or look to partner with someone who has cash already. Hope this helps and best of luck to you!

Hey @Tinh Marcus Pham! I wouldn't beat yourself up about not starting soon enough - you're going to be thanking yourself in 5 years that you started now, so good on you!

Have you considered investing in a different Canadian province? I know a lot of Canadian real estate is tough to make cash flow, but if you are comfortable investing from a distance in Canada - you can do the same thing in the US! Best of luck to you and excited for your journey!

Hi Cody, the easiest way would be to house hack - if you're able to move into one of the units you can usually qualify for a much lower down payment. If you're unable to move into the property - start asking your network (friends, coworkers, family, etc.) if anyone would be interested in partnering on a deal. Hope this helps!

Hi Manuel - if people like to camp in that area maybe you could set up a glamping operation? Or ask around to find a glamp site operator that's looking for land to use? Also wouldn't hurt to ask a broker to help you out to see, if you did decide to sell, how much it would realistically go for. Hope this helps!