All Forum Posts by: Jim Coleman

Found a house I want to live in for 2 to 3 years while I upgrade it before selling or renting out. It is a 2br,2bath, large basement, 2 car garage, a small den , and new kitchen and bathroom. It’s been on the market for a year which my biggest concern and it’s current price is 120k and price hasn’t dropped since it hit the market. I’m thinking of offering 110k. Just asking for thoughts since I’m new to this process and will be looking at the home tomorrow morning. Thanks.

I am in the process of purchasing my first rental property. I was thinking of purchasing a duplex to 4 unit with the hopes of moving in and renting out the rest. I’m located in Pittsburgh pa and having a hard time finding a property I like. Would it be possible to buy a property while I’m still renting an apartment? I know I can’t use fha if I’m not living it it , but I don’t mind this. I just want a property under my belt to start generating income from. Hope I’m not getting ahead of myself. Thanks 

Hello all, 

Me and my cousin started to save up money to purchase a rental property. We are starting off small saving about $100 a week each with the hopes of purchaing are first rental at the start of next year. 

I was thinking of adding more people to our venture , but I wasn't sure how to structure it. Me and my cousin have a good understanding and we will be using my credit to purchase the property or should I be considering using business credit once i have my LLC up?

Just want to know how to create a family investment group in terms of structure. 

Duplex's range from 100k to 200k in my area. My number one goals is to live in one of the units with the duplex to get ride of the rent I have been paying. I don't mind using IRA funds and I am able to use the money when I wish and it's not taxed when used to by a home I'm more concerned about getting the loan due to my work history have a gap.

I was laid off at the end of January and rehired in July (worked for this company 10yrs before being let go) . I still make about the same about - 80k a year. I have 6k in my savings and about 50k in an IRA I wanted to Use for investment in a duplex and house hack it (living in one of the units). How or would I be able to do this ? Or do I have to wait? Credit score is able 700. Thanks

What I'm asking is when taking out a loan for a property to purchase can I take out extra funding to make repairs on the home as well? I want to buy a property to rent out and use some of the loan money to make repairs to the home as well before I rent it out. 

Thanks!!!!

What I want to do is start buying properties and create a portfolio. I have a 700 credit score, very little debt besides student loans, and 40k to start my portfolio with. 

I was planning on investing in duplex’s first while still living in my apartment and grow from their. My rookie thinking is telling me to split the 40k over several different properties in form of down payments. 

I’ll also add that I did do some cold calling as a real estate Wholeseller and know how to find distressed properties but this time I can actually afford to invest in them. Please let me know how where I should get started! Thanks!

Quick question....

I can make the calls and set the appointments, but vising the properties I feel is going to be my biggest issue because I work from 9 to 6pm everyday M- F (Saturday's and Sunday's I would prefer to make calls to drive sales). 

What would be a fair JV set up between myself and a fellow wholesaler in my area because I know of a few that could help?

Or would I be better off finding a contractor to look at the properties and take pictures (paying them a few bucks per property?)

Can anyone help with this. I fee like one of the comments is spam or someone marketing their services and the other didn't really make sense. Thanks