All Forum Posts by: James Nix

from personal experience i would invested in knowledge first. If you read books get 

- The book on rental property investing by Brandon Turner 

If you into audio more start with the biggerpockets podcast & listen. Then you can use the book recommendations from the investors on there and get the auiblie versions.

You already have a paid off property. So you should not be in no rush & learn because that's your meal ticket right there. 

@Al Williamson thanks for tip. I never really thought about that & it makes so much sense why would I strive to make more work( more units) vs getting my set income goals. What are your thoughts on buying in a declining market? Would you do it 

@Account Closed thanks so much, & yes it’s my first property. But I would like your thoughts on why do you feel as the first property wouldn’t be a good investment to get to the 20? It seems like to get into a property & be able to build value thru sweat equity is a good investment. Am I wrong or just got something mixed up? 

Would you buy a duplex that needs about 15-20k in renovation (Dad has a construction company & I am also very handy so plan to do a lot of the work myself) which has negative population growth( -6% since 2000) but is around the corner from your job(literally walking distance)

Or would you

Buy a duplex in a growing population location (22% since 2000) that's 45- 50 mins away from your job which you would have to pay about 60-80k more then your budget in your criteria or that you wanted to pay for your first property.

I work for a government job & have been there for over 5 years. I also don't plan to quit soon well not for 3-4 years because I actually like working there. I'm househacking it so I won't be tied to the area, well hopefully not that long( My Goal is to buy 20 units in 3 years).

So my question is which duplex would you choose to buy & why? 

1. Book on rental property investing by Brandon Turner 

2. HOLD by Jay papasan & others 

3. Build a rental property empire by Mark Ferguson. 

& depending on what type of person you are I would recommend you get Audible so you can re-listen to them at least 3 times each. 

book on rental property investing- Brandon Turner 

Millionaire real estate investor- Gary Keller 

Build a rental property empire- Mark Ferguson 

 The crazy part it is. I never owe that much I owed $1700 and somehow someway my debt is $4700. So I won’t feel no way about negotiating a deal for a reduced amount because I know I didn’t owe that much. But thank you tho 

 And you are a perfect example of why people are a little hesitant to post on here. This happen 8 yrs ago I was young and made some mistakes imma totally different person now. Furthermore, if somebody ask for help give your opinion to try to Help them not make fun of there situation or just don’t reply at all 

 On credit karma this is exactly how it’s on there 

Opened: March 12,2012 (6 yrs, 1 mos)

 See that’s the thing the debt is actually 8 years old (2012) but it’s showing it’s only 6 years old. I guess that’s the last activity date on the debt. I never was against paying it off I just read exactly what you said about paying on it affect my credit in a negative way that’s why I wanted to know should I just go in with trying to pay a reduced amount on it