All Forum Posts by: Jerry Condra

Wow, I'm just finding out about this. I'm brand new to REI and purchased my first property from MI in Feb 2018. Went well and so far no issues I'm aware of, but will be calling my PM tomorrow to see what they have to say. My property is in Virginia near James Madison University though so hopefully I'm not impacted. I'll keep reading, but honestly, I don't know if I need to do anything at this point I don't know what I don't know yet.

-Jerry 

Hi Jon Deavers , Thanks for this response. Very helpful in helping me think through my next steps! Jerry

Hello all,

I've been in the BP world for 2-3 months and am now ready to make my first purchase. I've read tons, listened to many, many podcasts, played with the rental property calculator and think I've learned as much as I can/need in order to make the purchase. The rest will come, as I often read/hear. My question is two-fold. One, I'm in a position where I could go multifamily and a bit nervous wondering if I'm biting off more that I can chew for my first purchase. Multifamily is where I intended to go long term, but if I can do it right off the bat, I'm wondering if a newbie should? I've owned my own homes over the years, so from that perspective I know what goes into owning a property.

The second question is I'm looking for opinions. One of the media outlets I listen to is Lifestyles Unlimited. I haven't spent any money there, but hear them say frequently that you can learn in their two day workshop what it would take 10 years to learn without it. Trying to imagine what that would be. From what I gather in the BP podcasts and reading you have everything you need on BP. I've read a few of the LU threads and my impression is they have a product to sell and their mantra is you need them to succeed. Not hatin', just not sure it's what I really need.

Thanks!

Jerry

Hello all, Newbie question. I'm considering a vacation rental and not sure what amount I should use when analyzing the deal. Do I use the mortgage amount or get an average from the seller? I'm thinking I wouldn't use the mortgage amount since it should typically be rented out and providing more than the mortgage. Appreciate your responses! Jerry

@Seth Teel Thanks for this info. I already have plans for tonight, but I will plan to make the next one. Definitely the kind of thing I'm looking to get involved with in the community here in San Antonio. 

Thanks, Tim. What is the location?

Hi all,

I'm new to BP, just posted my introduction a few minutes ago and have a question for the community. I'm just about ready to make my first deal for a buy and hold in a great location in a great school district. My question is, I'm a little hesitant to buy something and not have a renter lined up. Probably a non-issue given location, but it seem risky anyway. Any suggestions on how to tackle that other than making sure I have the money to cover a couple months rent?

Thanks!

Howdy all!

I came across BP while reading an article by someone who had started in REI and mentioned BP as one of his sources to get started. I've considered REI for quite a while, but didn't think I had the money to do so until I started reading blogs and listening to podcasts on BP. Now I'm ready to make my first purchase!

I've been in the IT industry for about 20 years and it's been good to me. Having hit my 50's I'm now turning my attention to adding REI to my retirement plan. Would love to 'retire' from Corporate America. Not to sit on a beach, but to be in more control of my time and investing.

My goal is to learn, network and build a portfolio primarily around the buy and hold strategy...at least for now. Also, I'm no Chip Gaines, but I'd like to learn more about being a handyman. Not afraid of tools or getting dirty and I'm okay with very basic home maintenance. The BP community seems to be a place that through networking and being willing to help others I could learn some of the more complex handyman tasks.  

My wife and I have been married 21 years, have 4 kids and have owned/built 4 houses as primary residences and that is about the extent of my real estate experience. We're both on board for this journey and looking forward to getting into it.

Thanks!
Jerry