All Forum Posts by: John Allen

@Alex Deacon sorry Alex my mistake. I will not be contacting your father. I was mistaken that you gave your fathers info yesterday but it was another BG member. My apologies.

@Alex Deacon ok thanks that’s awesome. I really appreciate that. For the most part I have looked at probably over a thousand. This just happens to be the one where all the numbers work. Just need more research on the market and the crime in the area. After that I’m ready to go under contract. It meets all my requirements. I now just need to sharpen my knowledge on how to get out of a contract after I enter into one. That’s mainly my next big question? I’m currently reading Brandon Turners book on investing with low or no money down. Hoping to find my answers there. If you have any knowledge in this area please feel free to share. I want to go under contract just need the details on how to back out if everything doesn’t check during the inspection process. I plan to contact your father after close of business today. Do you believe that’s a bad time to reach him. I’m just at this military school and can’t really use my phone or email during the day.

@Tyler Bodi Hey Tyler. Yes I do plan to house hack as well as use the BRRR method. My original plan was to invest in a multi family home for my first investment. But due to the Louisville market being a sellers market and no good deals on the market I have had to switch my focus to single family housing for the time being. Still using the same method. I plan to buy a home at under market value and then sink a lIttle cash Into It to gain some eauity. Then reinvest. I’m trying to build my network also. If I can build my network through property mangers, larger investment companies and a few solid brokers then I could possibly find that multi family home I’m looking for. I see that you are from the Louisville area. I am currently evaluating a property across the river in New Albany. It’s listed at 48K and already renting for $750. From the picture I can tell that the home will need minor rehab. I’m not sure how the area is. That’s where I need more info and research. I am currently out of town doing some military training but when I return I plan to move forward with possibly going under contract if this deal checks out.

@Alex Deacon Alex thanks so much for the encouragement. I read rich Dad poor Dad and It changed my life. I know that I should not push this to the side or procrastinate. I am pre approved and my funds are ready to go as well. I have taken roughly 3 months evaluating the Louisville housing market. I recently found a single famIly home just outside the city in New Albany, IN. The home is listed at $48,000. I plan to house hack my first few deals. The home is currently occupied and is rented for $750 monthly. This issue is that I don’t know the area as good as I would like to. The home needs minor rehab. Which is what I am looking for. I am trying to find an agent that could provide me with more help. The agents I have spoken to seem to be geared more towards just making a buck versus building a relationship that could go beyond this one transaction. I am hoping to possibly build a network on this site to help me find other investors and brokers that work in the Louisville. This deal feels right I am just scared to make the leap. I am currently on a 3 week military training but I plan to hit the ground hard. What would you suggest my next step be as soon as I return from my training?

Good afternoon Bigger pockets. I have used this site for a little over 2 years now (lost the account information to my old account.) I truly enjoy the podcast along with the online forums. This site has changed my life. I am 26 years old and my passion in life is real estate investing. Some may hope to walk on the moon or play in the NBA, well I want to reach financial freedom through my dream as a real estate investor. I currently reside in Louisville, Ky. My dream is to start my own real estate investment company. I originally planned to focus my investment company on multi family housing, but the Louisville market is for the seller only at this moment. I am also trying to build my network within the city and its surrounding areas, but have had trouble finding the right broker and larger investment companies to help guide me on this path. I speak with about 3 agents a week and I have one broker at the moment. He’s doing a pretty solid job just an older gentleman that doesn’t seem to move all to fast. With all that being said, I have now opened my mind to the possibility of purchasing a single family home that needs minor rehab. I plan to house hack my first few investments. I have already been pre approved. I have read all the books, searched all the markets, began my networking, and created a 5 year plan for the start of this investment company.. bigger pockets my question to you is where do I step next?