All Forum Posts by: Jeremy Shinall

When I decided I wanted to buy rental property back in 2002 I knew I needed to save some cash for a down payment. I made a difficult decision at 26 years old to move back in with my parents to save up. In one year with I was able to save about $30k and in March 2003 bought my first single family rental with 5% down. I stayed at my parents for another year and did not move out until I had acquired 4 rentals all acquired with 5% down. I continued to buy properties as for the next several years but I always had roommates helping covering the mortgage on the house I lived in so I could continue to save down payment money. Fast forward to today and I still own them all. I enjoy nice cash flow and equity. I still buy rentals but fewer and farther in between as I like to pay cash or use equity loans. The take away is to make sacrifices in order to get the first couple deals...it may take time and be uncomfortable...but it's worth it.

I'm with you Jason. I'm 37 and renting a room out of someone else's home for $500/month. I did this so that I can save up $30-40k for such a downpayment. 13 months later, and I've got $26. Almost there!!

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Originally posted by @Mikael Winkler:

@Andy Cross

@Christian Benitez ...One route I'm considering is an FHA 203k loan, which essentially allows you to roll rehab costs into the total mortgage, while still keeping down payment low (3.5%)...

I think you're talking about the FNMA loan. It's like FHA for investors! BP just put out an "Ultimate Guide" to purchasing property with this type of loan. Check it out: https://www.biggerpockets.com/renewsblog/2015/11/27/ultimate-guide-fnma-homestyle-renovation-mortgage/

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Originally posted by @Mindy Jensen:

OK @Polar Prutaseranee and @Jeremy Shinall. A new build is going up tomorrow with a few more tweaks.

Okay, this is weird. The little "lock" icon next to the username field lets me access my LastPass app (a password manager). This lets me populate the email address and password fields from the BP entry I have in LastPass. Once those fields are filled, I can press the "Log in to account" button and - viola! - I'm in!

So...quite literally, what's causing the app to crash is act of selecting the "Email Address" field. Hope that helps the developers!!

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Originally posted by @Mindy Jensen:

@Polar Prutaseranee, try uninstalling the app, and then reinstalling the new version. Let me know if that doesn't fix the issue.

Having the same problem. Uninstalling and re-installing didn't work for me :-(

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Originally posted by @Chris Romany:

...be advised that they are also heavy into information marketing (different speakers will attempt to sell you their programs) so keep your checkbook/credit card at home for the first several months while you gain your education.

Amen. I learned the hard way that the information in those courses can be found on BP. Don't make the same mistake!

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Hi @Christian Benitez,

Welcome to BP! I'm still a rookie here myself and also live in Orlando. I have 2 recommendations for you, as a fellow newbie:

Consume as much BP material as possible - podcasts, blog posts, the new online classes, the Ultimate Beginners Guide book, etc. BP's as good as you'll find out in the rest of the world and it's all right here.
Join the local real estate investors assocation - www.cfri.net. I've been a member for about a year and find that the networking and education is on par with BP. I've had a slow start, but I'll be leveraging many of the folks I've met at CFRI on my first deal.

You've got a trade skill and that's going to make you a valuable partner. Once you get familiar with this world, it won't seem so confusing. Feel free to reach out to me directly and I'll see if I can help!

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I'd love to hear some input on this, too. I'm considering a property in the city on septic. I have no experience maintaining a septic tank. But, I've seen Dirty Jobs and it seems expensive!

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Might anyone have any experience with out of control roaches in Florida? I'm looking at a distressed property in the Orlando area. The roaches are climbing the walls in droves in the daylight. They're everywhere. I couldn't even begin to estimate how much it would cost to have such an infestation taken care of professionally. The home is about 1100sqft. I'd love to know what that would cost in Orlando!

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Thanks @Tom Shepard and @Thomas DeMoss! I've passed the info along to the potential buyer!

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I need an agent to help me find a property for someone with very specific needs and not-so-great credit. We need a property that can accomodate wheelchair access to at least part of the living space - split-level would work nicely. Unrented duplexes are also a possibility.

We also might need seller-financing/lease options. This isn't the typical slam-dunk retail sale. So, we're looking for an agent than can find the creative housing solutions that would include investors along with the traditional MLS listings.

Please hit me up if you'd like to know more about this client. Thanks!

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All Forum Posts by: Jeremy Shinall

Jeremy Shinall has started 4 posts and replied 38 times.

Post: Where did you get your money to start investment

Post: Where did you get your money to start investment

Post: The NEW iOS app is now in the app store!

Post: The NEW iOS app is now in the app store!

Post: Newbie from orlando, Fl

Post: Newbie from orlando, Fl

Post: 24 units on a well and septic - advice?

Post: best ways to fight roaches

Post: Looking for Investor-Friendly Agent in Chattanooga

Post: Looking for Investor-Friendly Agent in Chattanooga