All Forum Posts by: Account Closed

I can't wait for the stock market crash....

No way, 

back in the day I co signed for my best friends loan, that was mistake number one. Then I lend him money because he lost his job mistake number two, in the end I had to hire an attorney and sew him and yes he is not my best friend anymore. 

So no I would not rent to my family or friends even if they have good credit, if something goes wrong which in real estate always does relationships will be damaged.

I heard on the radio few weeks ago Canada is in the same bubble we were back in 08, they said regular folks are buying a million dollar houses and yet their income is like 40 or 50k

Investing in condos is the same as investing in anything else, you have to know your numbers. You have to buy it at a huge discount because of the hoa fee and other fees they may throw at you in the future, that is actually what I am looking for now but can't find any at least not yet. 

In the future say 3 years, I will be buying all multi family houses but for now do to the type of work I do I think condo is a good start to get my feet wet.

My plan is to sell all my real estate assets when I turn 60 - 65 years old. I'm currently investing in the stock market and after retirement I will have some on my money in income stocks like utility , bonds and cash. 

I never been to his training nor any other guru for that matter, I travel for a living and often stay in hotels and almost every night I keep seeing his informational. My advice is don't even bother with them, you will learn more by downloading biggerpockets podcasts. These gurus are in business to sell their so called special training and nothing else, and after you buy it they will push for more.

I'm watching this show on Netflix right now, I also found it by accident I was searching for something else and this show popped up. As far as what do I think of it well it's the same what I think of flipping houses shows, it's about drama yelling and fighting its what get ratings. However it showed me the inside look of a property management company what they do and what's going on. 

@Daniel Odess

Thanks for a quick response, I have little over 60K just siting in the bank I could invest now, the rest of the money is in my brokerage account. That is a good idea about talking to my agent if he knows any landlords who want to get out of the business. I travel mainly from the Midwest ( such as kansas ) to the east coast but I have very little time to look at property's in these areas. 

I am in the process of looking at craigs list regularly and writing down all the rental prices in my area. When I will get home next week I will be house driving I think it's called so I can get more familiar with my area, I know it well but I'm sure there are things I don't know. 

I'll wait what others have to say, but I think I will put it on hold on buying my first investment property until I'm home everyday, the down side to this will be financing, when I switch locally the bank might not want to give me a loan since I just started a new job. 

Hey BP 

I need some advice from others and just share my ideas and maybe someone can suggest which direction I should go. 

I've been investing in the stock market since 2011, I love it I'm a value investor just like Warren buffet . Now I want to move into real estate, something I've been wanting to get into since the housing market started going thru the roof in early 2000s. There is one problem I have a job, to be more specific I'm a truck driver and I am gone 3 - 4 weeks and I'm home 4 - 5 days. 

My original plan was to start with condos and town homes because of low maintenance at least on the outside. After doing my research I've learned a lot of investors having issues with HOA. Plus after running the numbers using BP calculator the condos here in my area are over priced.

My backup plan is to start with multifamily homes, I like them because they fit my long term goal which is hold on to them for a long time and have positive cash flow coming in. For financing I would take out the FHA loan live in it for a year fix it up and move on to the next multifamily home and do the same process over as long as I can get financing.

The problem is again I'm home only for 4 days a month and I would not have enough time to do work on the house or even deal with contractors, oh and don't forget I'm new to this so I will be making mistakes. 

I will be quitting my job in about 2 years so I can be home everyday, so what would you do? would you go with condos, sfh, mfh ? or just wait until you get local work and start then.

John