All Forum Posts by: Jeremy Jackson

@Avi Garg @Tony SanFilippo

Louisville, KY.  This is my hometown.  I'm still serving Uncle Sam, but plan on retiring and returning to Ky in less than 2 yrs.

I was overseas last year when I made the plunge.  Paid cash for a hud listing, 18k.  7k to make is rent ready.  This was not junk in a war zone, but a beautiful house in a low income neighborhood.  Got tenants placed and renting for $850/m.  I saw the house for the first time this month.  Met with the property manager and tenant to conduct walk-through.  Property in still in great shape, tenant is great and very happy to be there.  Winning!

Now if I could just find more of these!!!!!!!!!!

Thanks to BP and all of it's members.

Great advice by others here.  Find an licensed agent that is an investor.  You can find one here on BP.  Go to Community, find members, search using the zip you're interested in. 

Wholesaling is an option to get you started with little cash.

If you can save up 5-8k, thats enough for 20% down on a cheap rental (30-40k) that cash flows nicely.  Getting the numbers right when you buy it and conducting a good analysis is key.  Every market is different.  You'll also need to find a lender that will loan on this type of property.  Harder than you'd think, but possible.

I recommend focusing on an area that you know.  If you have family and friends on the ground in your hometown, that sounds like a good place to start.  Personally, I'm not comfortable investing in areas that I don't know very well. 

Keep educating yourself.  BP is a great resource with great people willing to help.

Start analyzing deals and due so regularly, even if you're not ready to invest.

I landed my first meeting with a very experienced and wealthy investor through a craigslist ad in the homes for sale by owner section.  You could do the same.  Start attending local real estate investor meetings, another good place to learn, network and find a mentor.  This is just me, but if they're trying to sell you something, I'd walk away. 

Im not a licensed agent. I'm considering a career as a licensed agent after retiring from my current occupation. I've talked to a few friends/agents recently and they all recommended saving 6 months of living expenses before taking the plunge. I've been told that Semonin has great resources for new agents. I hope it works out. 

Contact @Brian Adams through BP.  He is a licensed agent and investor in Killeen.

Brian Adams gets my vote. He's on bp also.

I sent you a message.

Along with the great advice you've already received, search for documents uploaded on bp here: https://www.biggerpockets.com/files.  

@Corey Shields

I kept my first property as a rental for 5 yrs.  Second was a live in flip that I sold after living in it for 3 yrs.  I sold both to friends without the help of a real estate agent.  Never even listed them, anywhere.  Surprise!!!!  I've been told I'm lucky, blessed or talented.  I don't believe in luck.......but I often use the quote, "The harder I work, the more lucky I get."