All Forum Posts by: Joshua A. Lenninger

@Trenton Hall thanks, yeah I would appreciate that, and I will let you know if I find anything as well.

@Bruce May appreciate it Bruce, Oceanside is a bit out of my range as I work a full time job and don't make it back home until the evening. But If I am ever free on one of those Tuesday's I will definitely check it out.

Thanks

Looking for local REIA meet ups, seeking wholesale contacts as well as "investor minded" real estate agents. Any and all info would be appreciated. Thank you

@Account Closed

Thanks for the input, definitely helps. I think I may stick closer to the 1% rule and crunch numbers myself maybe make a spreadsheet that apples more to me and my market.

I'd rather not use the 50% especially because I'm a hands on guy and all repairs will most likely be done on my own.

Well, thanks for clearing that up for me guys

Appreciate it.

How's it going everyone? I have been doing some research and I've known about this 50% rule for a little while but never quite understood when applied to property. Every multi family property I use this screening method on always shows me upside down on cash flow which I don't see possible, but then again I don't have experience in owning property or being a landlord. I live in California and prices are high, but in turn rent is higher as well. So I will give example of property I am evaluating. Property A; Listed @ $360,000 Est. mortgage @ $1,800 Property tax @ $1,336 Monthly rent @ $3,250+ 50% rule applied 3,250/2= $1,625 $1,625-$1,800= in the whole Some info on the property Over an acre of land 2- 3/2 homes and 1- studio. 1 3/2 rented @ $1,350 and studio rented @ $700 as for the other 3/2 may be empty not sure. So is this just a situation where the rule doesn't apply? I don't see how the monthly expenses could be $1,625. Also could talk down listing price some I'm sure.

@Account Closed I agree with the slow and steady platform. Wholesaling never really crossed my mind, I think I'd rather buy property and get my hands dirty. I'm definitely not a salesman.

Hello all, First I would like to give you a rundown on my situation. I'm interested in investing in multi family, have been for a while just haven't taken first step quite yet. I've been spitballing ideas a little and not sure which route Would be best to take. I'm definitely set on multi family properties but not sure if I should jump right into it. I also might get into flipping eventually due to construction background. I currently pay rent living in an apartment with my wife and kids, but I plan on buying first property in the near future. So my question is, should I either; 1-start off by buying a home for my family, move into and renovate, build equity, refinance/sell, reinvest. 2- buy multi family and continue renting to tenants, collect and stash away the cash flow from property, reinvest or 3- buy multi family property and live in one of the units, renovate and build equity. Plus I can save money due to low balance on remainder of mortgage after collecting from tenants, and reinvest. Any and all suggestions welcome Thanks.

Hi all,

First I would like to give you a rundown on my situation. I'm interested in investing in multi family, have been for a while just haven't taken first step quite yet. I've been spitballing ideas a little and not sure which route Would be best to take. I'm definitely set on multi family properties but not sure if I should jump right into it. I also might get into flipping eventually due to construction background. I currently pay rent living in an apartment with my wife and kids, but I plan on buying first property in the near future. So my question is, should I either;

1-start off by buying a home for my family, move into and renovate, build equity, refinance/sell, reinvest.

2- buy multi family and continue renting to tenants, collect and stash away the cash flow from property, reinvest

or

3- buy multi family property and live in one of the units, renovate and build equity. Plus I can save money due to low balance on remainder of mortgage after collecting from tenants, and reinvest.

Any and all suggestions welcome

Thanks.

Hello all, My name is Joshua Lenninger, I am an aspiring real estate investor interested in owning multi family properties. I haven't had much experience in investing in properties, but instead more experience in building them. We are currently fully licensed and bonded, so if any investors out there are looking for a good plumbing contractor with competitive pricing, feel free to send a message. Thank you , Joshua Lenninger One National Plumbing