All Forum Posts by: Jordan Alexander
Jordan Alexander has started 8 posts and replied 105 times.
Florida seems much more appealing. Rent for 2 years in CT and then go back to FL?
Quote from @Brandon Caynor:
Your current rate is LOW! Keep what you have and put your excess capital to better use. The third of the 7 simple rules of money from The Richest Man in Babylon is "Make thy gold multiply: invest wisely". IMO you have a better opportunity to leverage your cash somewhere else rather than paying off your mortgage at such a young age & at such a low rate.
If you're looking for a new read I'd recommend the book too. It's a classic.
Thank you for the insight Brandon! I've read that book, and it is a fantastic read!
Post: Seller Financing contract
- Posts 106
- Votes 39
Best of luck! Let me know how the deal goes!
Post: House hunting for primary residence
- Posts 106
- Votes 39
Investor-friendly agents can definitely help with off market deals, but google maps has every off market deal you may be interested in.
Post: Need help with a possible seller finance prospect
- Posts 106
- Votes 39
The objective should be to create a win-win-win situation for everyone. In your case, you get the terms you need, the sellers get the price they want, and the agents get their commissions. Since the property is being represented by an agent, you'll have to bring a down payment in order to pay for their commissions. It does not have to be your own money, but then you will have to bring in private money. You could also ask the sellers if they would be fine with the down payment being seller financed, but that will most likely be difficult to pull off since there are agents involved.
Quote from @James Hamling:
Quote from @Jordan Alexander:
Equity comes, equity goes, but the cash will always flow. - Pace Morby
Well, now we clearly know the focus of who he is looking to make $ off of, and it sure as heck isn't those with a clue.......
Unit is vacant.... "but the cash always flows"
Appliances went out.... "but the cash always flows"
Tenant's lost their jobs.... "but the cash always flows"
Roof worn out.... "but the cash always flows"
MFH in area started dropping rents..... "but the cash always flows"
Look I get it, that's a "cool" saying, it's jazzy, yeah, we can all get RICH, don't need no $, no credit, no anything just pay-up on a program and cha-ching it's "tendies" and "lambos"...... But this little thing called reality comes crashing in.
Cash-flow is the RESULT of things, NOT a thing in and of itself. Cash-flow is the #1 most volatile, CHANGING, and easiest to loose factor there is. FACT. Cash-flow is a statement of an exact moment in time, not permanence.
I appreciate the insight James. Although I'm not sure what you are trying to accomplish in this post besides being rude. I would imagine a broker who communicates to his clients this way does not get very much business...
Just so you know, Pace Morby does not have a program where he charges people to learn. A lot of his content he posts is accessible from YouTube, Instagram, and FaceBook, so I don't need to pay to hear him say comments like the one stated in the post. He also has appeared on the podcasts a couple of times and just wrote a book with BiggerPockets, so he must be doing something right!
Of course I think you should want to purchase real estate that will appreciate in value over time, but what is the #1 reason most people get into RE? It's cashflow! People are either trying to become financially free, build a good passive income nest egg, etc. Then as times goes on and you become a seasoned investor, I'm sure things like appreciation and the tax benefits tend to be more of a priority. Unless someone has a lot of money and they can weather the storm, I would hope you don't tell your clients to buy for negative cashflow. I would imagine they wouldn't be able to hold it for long...
Have a great day!
Quote from @Kade Drake:
Quote from @Jordan Alexander:
Don't be afraid to go to meetups and network with other people! Sometimes it's easier when you have someone with you going through the same steps. See if any of your friends are also interested in RE. Every person I have interacted with on BiggerPockets has been wonderful so don't be afraid to send direct messages to others. You never know where the relationship will go.
Got it! I am trying to find some meet ups that work with my schedule right now. If you know of any in Washington let me know:)
Thank you for your comment Jordan,
Kade
Hey Kade,
Anything I could do to help! Where are you located in Washington? @Brandon Vukelich is a guy who knows a tremendous amount about RE and is a great resource!
Post: FIRST BP POST! Buy or Rent on the Northshore in MA
- Posts 106
- Votes 39
Quote from @Tyler Suggs:
Quote from @Jordan Alexander:
Hi Tyler,
First off, congratulations on being engaged! The wedding will be here before you know it. My wife and I have been married almost two years now and it's how fast time flies by. Reading your post popped two words into my mind: House Hacking! I'm not sure if you plan on investing in real estate, but house hacking is a great way to have little to no housing expenses, and you purchase an asset as opposed to purchasing a liability like a single family home or condo. Go into the bookstore and pick up the The House Hacking Strategy. With an FHA loan, you are only required to put down 3.5%. I hope this helps! Congratulations again and enjoy this time!
Good morning Jordan!
Thank you, the wedding sure is coming up fast only 5 months away now! I have looked into house hacking and wouldn’t mind house hacking a duplex but renting by the room for sake of our comfortability isn’t really something we’re willing to do. I know it is a great option and if we could suck it up for a year or two it could really pay off but we’re looking to start a family and house hacking doesn’t seem like a very conducive environment for that in my mind! It is something to think about though and I appreciate your insight!
Thank you!
No worries my friend! You and your wife will do what is best for you as family and I'm glad I could offer some insight. I totally understand where you are coming from because my wife, daughter, and I currently live in a condo, and if I told her we should start house hacking she would probably look at me all funny LOL.
Quote from @Theresa Harris:
Quote from @Jordan Alexander:
Thank you for the input everyone! My wife and I have enough money to pay off our primary and be free and clear, but then I wouldn't have the capital to invest in RE (and our rate is only 3.375%). I'm 23 now but I wish I knew even earlier the importance of purchasing assets over liabilities. But there is no point to getting caught up in the past so I can only move forward from here on out!
I think this is a great attitude. If you have a low rate and you want to invest in RE, use your money to buy a rental rather than paying down the mortgage on your current home.
Thank you! Assets > Liabilities
Quote from @Steve Vaughan:
Quote from @Jordan Alexander:
Thank you for the input everyone! My wife and I have enough money to pay off our primary and be free and clear, but then I wouldn't have the capital to invest in RE (and our rate is only 3.375%). I'm 23 now but I wish I knew even earlier the importance of purchasing assets over liabilities. But there is no point to getting caught up in the past so I can only move forward from here on out!
Congrats on your success so far at 23!
Thank you so much!