All Forum Posts by: Jess White

@Joe Pearson If you want it bad enough you’ll find a way to make it happen, no matter what it takes. Sure theres risk, but you and only you know the direction and path you need to take.

@Sinil Kim finance as much real estate as you can while you have a W2 job.

@Sinil Kim Use the skill of having a great job to clear a bunch of financing for real estate while you have a W2 job.

@Phil Goodwin do you form an entity for your partnership deal?

Looking to partner up on an 8 unit deal in Texas. Except there’s one issue, I have no idea how to form a partnership of anything like that. I’m guessing there are plenty on people on here that don’t know as well, which is why I’d love to hear some responses on this so we can all learn. 8 units: 380k --- Gross rent annually 60k It would be between 2-3 people total.

@Frank Wong What a great analogy, Frank. I love that perspective

@Jay Hinrichs Great thoughts Jay. I think rentals are great for the long haul, but most people expect them to start making them wealthy immediately. Supplementing with flips, new construction or some other form of REI, keeps the interest there and actually pays the bills without having to use your cash flow to live and hence, killing the golden goose.

@Llewelyn A. What a great answer, I love the analogy between the planning phase and the actual vacation. This is why I think its so important just to at least take action on your first deal - even if you don’t score big. It gets the momentum going, which is so critical.

I want to hear the good experiences and bad on this one. Do you really win in the long run by lowering rent for a longer lease, or should you stick to the script of 12mo leases? What are your thoughts on this?

@David Waddleton great job! You took action and didn’t get analysis paralysis. Forget about scoring big on your first deal. Get out there and make mistakes, jump in a figure it out on the way. Theres plenty of people on here that can say that’s not a good deal, or whatever. But you took action my man, and the next deal you will do even better. I commend that all day. I say as long as you are cash flow positive - you did ok. As for raising the rents, I probably wouldnt. Some responses on here are right, in that you dont want to lose a tenant over 50 bucks a month.