All Forum Posts by: Jonathan W.

I would highly suggest no. Now bringing him in once your successful is another thing. You can risk millions of dollars of your own but it won’t feel even remotely close to how bad it would feel to lose or risk losing your dads money. The mentality of risking someone you loves money can be very...well think of like twenty negative words and they’d all probably fit to complete that sentence.

I took out a small loan from family for a small venture only because my money was tied up but if it went south I had more then enough to cover it in by way of selling other investments so there was no cloud hanging over my head that if I failed, it would have been terrible.

That doesn’t seem to be the case here

You sound confident and smart but just keep that in mind, losing families money esp you dads would leave a very bad feeling in your gut later on and could stop you from making the right or risky decisions during your investment.

Good luck with whatever you do!

@Deb R. Lol. Cute

If you ask people about themselves they will do all the talking. 😝

@Deb R. Some of this is easy enough to find out (literally google maps) and some you need to do some investigating. I don’t buy far from home so researching for me is constant.

I talk to people.

I drove for uber for like a week and although i think it’s a mediocre side hustle at best, you can talk to people who live in the area but generally talk to those around you! One guy I gave a ride to was a construction worker and he had fascinating info for me. People you’ll run into aren’t always right but they usually know things you wouldn’t. Connect what you know with what they know and you’ll have a better idea of the demographics around you.

Talk to experts, experts in related fields, sales agents and you’d be surprised what kind of information you’d run into.

I love marketing so maybe it’s easier for me to think about some of these things but I believe most businesses are people businesses so find out about what people are drawn to in the area and who is doing what. Connect!

@John Oryx take care of the appliances before someone moves in :0 or have them buy their own if it’s not included :0

I think the 5th one is just silly and if you get more of those then you have legitimate reasons to be annoyed. Some people just get angry easily. Thick skin sir but always be fair

@Amr Moussa demographics and what’s in the location

Is there a military base?

Is there a lot of construction/construction workers in the area

Are you near educational institutions?

Is it populated by retirees ?

What businesses are in the area? Can people who work there afford to live near there or do hey have to commute? Where do most of the workers commute from? What’s convenient for them?

Are there attractive and convenient places?

Last time I rented it was 100% for location, being near the freeway and being near awesome places to eat and socialize.

These are just things to ponder. You know that saying location location location? For rentals I’d add the word convenience.

@Alexander Vasquez not only was I once super young for a job that required much experience and were occupied by people that were much older but I also will probably loook young even when I do get older. Trust me it’s all in your head. Put down the beer, put down the Netflix and start reading and feel your insights coming to you. No one can take that away from you

@Alexander Vasquez I had a friend who grew a beard to combat this situation. But one thing I noticed more then anything as I am still young and that of younger a acquaintance is that they have tendencies that they aren’t remotely aware of. I assure you it has very little to do with your looks although looks probably aren’t helping. I assure you it has everything to do with everything else. Just keep educating yourself, keep becoming more self reliance and the better you do at that, I guarantee you it won’t be as much as a “hinderance” as you suspect it is. Granted some people will still use your age or your being “green” against you and that will never change. But comes pros and cons of it and comes pros and cons of being experienced and set in your ways.

Good luck buddy.

@Shawn Ward that is awesome info social justice warrior

I mean Shawn ward

Thank you

@Jonathan Watt I meant 1/3 less. If it was 2/3 I’d be on a plane to el paso tomorrow

@Jr Chery @Jr Chery start as conventional as possible meaning don’t think your smarter and identifying properties because something stands out to you. Know what people like. For instance don’t go buying a five bedroom because it was priced close to another four bedroom and you think it’ll make more revenue. Five bedrooms have less demand. 3 and 4 bedrooms are awesome and 2 bedrooms can be nice. I never buy corner houses also.

Don’t go in over your head finding a house you think you can fix up if your not a tradesman or you don’t know how to do most things. That rental ready property is always a good way to go.

Read about fair housing laws. Whether they apply to you yet or not because of what you are renting out, it’s always important to know. Like if your renting out part of the house your living those laws don’t apply. I’d still say you should know the laws.

Lastly, stay away from places with high tax rates and lots of regulations.

California is one of them.

Sometimes a place with higher property taxes can be overlooked

Like El Paso, there property tax is higher then where we have been investing but the home cost about 2/3 less and rent for about the same.

Consider finding out hot rental markets, like near military bases or near construction developments.

Your question was not very specific but I didn’t want to leave you hanging

Good luck