All Forum Posts by: Jesse Hyder

@Kristina Sparrow Its great that you have chats with your dad about real estate and he is an investor already. That puts you ahead of the game in a lot of ways. I know I wish I started at 18! and 7k ta boot? When I was 18 I was NOT thinking about REI to say the least... :-)

@Michael Dunn h

So you are going to buy a SFH and live there for 1yr and then rent it out after the 1yr and buy another one thats what you are saying right?

Why do that when you can buy a multi 2-4unit have a home and rental all in one go? Then move out after 1yr and do that again instead.

But as far as when you can rent it out (the unit you occupy) there is no other rule I'm aware of for renting the place after you have satisfied the 1yr requirement.

@Arktavious Sally That seems reasonable enough I'll have to learn more about assignments and multi closings then I think.

@Dave Grosse I wonder how long it would take for a wholesaler to 'find what I wanted' Herm interesting thought.

@Braden C. I can see how that would be a pain. Do most of your buyers fix/flip and come back for more? Or do any fix/hold and buy less frequently?

I'd really like to see things not on the MLS but I'd hate to get tossed all the bones after the big dogs have had their fill as it were. I suppose its just a matter of building a relationship and following through when the criteria is met and a good deal comes through for all parties. Even if you are a small buyer today you might not be in the proverbial tomorrow.

Now to find a wholesaler! :-D

I occurs to me that finding a decent wholesaler or two might be a good idea. But what does a wholesaler look for in a buyer? Every buyer probably wants something different and probably very specific. I'd imagine there are really big buyers who have the ability to gobble up alot of properties but what about smaller investors who can maybe only buy one a year or so? Like me! :-D

What do you believe is better? Appreciation or cash flow? I'm of the mind that cash flow is king but if your market is appreciating at a quick clip it might be worth buying the SFH. I'd buy the duplex if it was in a good area myself but thats me. :-D

1300>900 hehe

AH. The best tricks are the old tricks as they say. This is rafter bidding! With any auction bid what you think its worth and if it goes higher then that NEXT! There are plenty of 'plants' in auctions online and in person. Who work for the AH or 'on behalf of some entity'

So just bid what you think its worth and if they call, great, if not next!

Well if you can show them that your income + the rental income can cover it. It might be possible. But its a pretty expensive area for sure. If you are single and you were to swing a good place you could even rent out a room in your unit as well! HA.

What? Pfft get a new loan officer!

Hi @Douglas J. You said you were flat broke but maybe you can even do something now like sublet your current rental if possible or rent out a room in your house. Save up that cash and work towards a nice down payment on a multi.

@Account Closed This is a pretty good plan

http://www.biggerpockets.com/renewsblog/2012/12/12/make-a-million-dollars/

I'm actually on this plan and didnt even know it! Adjust to your own style/flavor. Today is the day, forget that envy nonsense and start working on your own bright future in REI. For every 20-30-40-50-60-70 year old on here there are MILLIONS who wont even take the first step so get that out of your mind and get going! :-D