All Forum Posts by: John Nicholas

At the end of the day you may end up swinging a hammer because demolition and bathrooms are your thing. On the other end of the sweat spectrum you might go in on notes or hard money lending.

BP is a great place to brush up on just about anything. Enjoy the options you have and I hope you find something awesome.

To answer your original question:

I would leverage 150k to get to your 3000k/month income. I would use the remaining money to flip houses as a business.

Thanks for the input Aaron,

it is much appreciated.

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Originally posted by @Marlon Wilson:

Hi @John

@John Nicholas ! Welcome to BP! Wishing you continous success on real estate investing! All the best!

Thank you Marlon,

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Originally posted by @Account Closed:

Consider owner financing your out of state properties so you are not a landlord. I only owner finance my houses in Texas and it's a great way to invest. I make 14-16% cap rates on all of my houses, and my buyers repair them. It's a great program. :)

Hello Joe,

Could you lead me in the right direction to learn the owner finance process? I see you talk a lot about it and should very interesting to me as a newbie for out of state..

Thanks

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Originally posted by @Travis Hamilton:

Some of it's going to depend on your goals ($2K-$3K/mo NOI) and how much time you can commit to the business. Fixing up beaters, even if your intent is to hold, isn't your typical "passive" investment. If you've got the time to commit to it and it's something you like to do than it can certainly help drive up your ROI. But it is a commitment...

All the best!

Thank Travis,

I appreciate the feed reply, I do have a bit of time to commit to the process. just trying to determine the best strategy to maximize the resources i have at the monument.

Have a good one

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Originally posted by @Derrick Neal:

Originally posted by @Joe Villeneuve:

Originally posted by @Derrick Neal:

It's this Turkey company in Michigan. They have homes from 25k to 60k with tenants in place. average rent about 850 per, save you the headache.

Derrick, are we going to see you at the Wholesaling Workshop tomorrow?

We're is this workshop at.. I sure will attend.I would like to show off what I have. BUT back to the topic at hand $150,000 is more than enougt to create 4000 dollars in monthly income. you must find the best market. markets like Chicago, Cleveland, Detroit, flint and Cincinnati are some of the best...Be for everybody begins to talk about crackheads and people stripping house and blah blah blah. Those things happen everywhere. A market like flint for example u could pick up 10 houses for about 140k with average of $700 per month

I would be interested in hearing more about Flint MI. is this 700 average per unit.

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Originally posted by @Gail Shoults:

Finance and use the leverage but proceed slowly and with caution. I deal in single residences and try to do simple math with each deal. I bought 10 homes in 2008 when foreclosures were around every corner, most of them could not be financed due to stripped out wires and other code violations, therefore were the best deals since competition was not as fierce, in that case cash is King , for others financing is best option. And absolutely believe everyone is trying to take advantage of you, as is always the case when you are on one side of the dollar and someone is on the other. Best of luck

Thanks for the reply, did you pay cash for the 10 homes or finance them?

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@Larry T

Thanks for the encouragement and warning. I have been reading and studying for about 3 months now, just tying to find the best strategy so I can focus my learning.

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* Lump Sum :-)

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Good Day BP,

As a newbie just starting out, my first goal I set is get to 2500-3000 a month net income. I have a lump some of money approx 2-300k to work with and want to come up with a solid low risk plan. Below are some of the thoughts i am having, I am just to green to understand the best strategy to reach this goal or if it is possible. Any feed back would be much appreciated.

1. Purchase single family or multi-family.

2. Buy fix sell first or buy and hold.

3. Use the money for down payments and finance as many properties as possible or pay cash for a couple of properties.

4. Down payment on a large apartment complex or cash for a smaller apartment complex

Have a great day...

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@Brie Thanks you for the link..

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All Forum Posts by: John Nicholas

John Nicholas has started 6 posts and replied 31 times.

Post: Strategy for lump sum of money

Post: Strategy for lump sum of money

Post: Buying Out of State - Newbie

Post: Strategy for lump sum of money

Post: If you were just starting out and had $150,000 to invest in real estate where would you begin?

Post: Strategy for lump sum of money

Post: Strategy for lump sum of money

Post: Strategy for lump sum of money

Post: Strategy for lump sum of money

Post: Buying property under a C corp