Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jonathan Davis

Jonathan Davis has started 3 posts and replied 11 times.

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Update

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13

Just thought I would share something interesting. 

After getting everything organized and starting my journey I realized I had already started building my team and didn't even know!

1. I have been working with a real estate team to find my house. The owner became good friends with my family. After letting him know our interests, turns out he wants to coach us along.  
2. One of my friends has taken the leap and started his general contracting business full time. We have discussed him being my guy for repairs and maintenance.
3. My older daughter currently works as a property manager for a company. When we are ready, she has agreed to support us on the management side. 
 

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13

Just wanted to toss out an update. 

1. I have been reading through (per suggestion) the book "Think and Grow Rich". Really changing my mindset. 

2. Listening to a ton of podcasts. "One Rental At A Time" has been helpful.

Thanks to everyone who responded. I truly appreciate your support. 

JD 

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13
Quote from @Chris Terberg:

So much great practical advice in this thread. If you haven't stumbled across Napoleon Hill yet, his books Think And Grow Rich and Outwitting The Devil are the 2 best books I've read. They will shift your mentality about finances and life in general and keep you from ever being "knocked down" again. Hope you guys kill it this year! 


 I heave heard of Napoleon Hill. I am picking up a copy of Think and Grow Ritch. Looks very impressive. Thank you for the recommendation.

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13
Quote from @Manco Snead:

Don't know much about your situation, but put simply RE investing costs alot of money. Focus on having a good reliable income first. You also won't be able to get loans without this and without loans you can't buy anything. It's best to look at all of this as a very long term plan. I went back to school at 39. It set me back about 4 years, but I didn't really have any other choice. And as others mention, ditch the American consumer lifestyle. No fancy stuff, no eating out regularly, no $300/month TV bill, etc. 


 Thanks man. I 100% agree, we are ditching the consumer mentality and focusing on what is truly important. 

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13
Quote from @Dave Skow:

@Jonathan Davis- you didnt mention if you already owned a home  - assuming you dont - look at  buying a  property that you can improve and  sell or rent in short term ( several yrs)  ...there are  programs that require  0 down and  low down payments  ....get  pre approved with a lender to  get  the process underway


Dave,
Actually we have just purchased a home. We got a good deal on a fixer upper, and were able to get FHA with the seller paying half the closing costs. We closed over the Thanksgiving holiday. So we are not in a bad spot for starting out. Being how we just bought a home we are not in the position to do a home hack. Thanks for the advise.

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13

I sincerely appreciate everyone's advice. Glad to have started the journey. Impressive to see a community working together like this. 

Thanks so much!

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13

Nathan, I really appreciate the advice and information. This is great stuff!!!!

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13

Thank you very much for you advice. I am in contact with a couple agents I worked with in buying my home. I was not aware that they own multiple homes as well. Should be able to grab some good advice. 

My plan is to learn (which is free) while we get our house in order. Hopefully the timing will all come together.

Post: 45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13

Hello all. My family and I have had enough of getting ahead just to get knocked back down. We are ready to start seeking a 2nd string of income that can help us weather the bad luck. 
Both of us have good jobs and things are looking up. 

Looking to see from experienced people: If you were in my situation, where would you start?

Thanks,

JD

Post: Hello All. Just getting starting. Here to learn and connect!

Jonathan DavisPosted
  • New to Real Estate
  • Linden, MI
  • Posts 11
  • Votes 13

Great. Thank you very much.