All Forum Posts by: Jordan Alexander

You could offer a little over purchase price and that difference could be their interest since it is more than what they wanted, but build a relationship with the seller and identify what their goals are.

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Build a relationship with the seller, identify their goals, and see if you can come up with a win-win situation.

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Talk with smaller banks and see what they offer. They might be able to pull something together.

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Manchester, New Hampshire

Talk with an investor friendly agent and have them send you expired listings. You also want to find people who bought their home from 2018-2021 as they will have very low rates.

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Portland, Oregon

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.

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Vancouver, Washington

Hi Obi! All of your points are spot on! That was the first book I read about REI and it's what got me interested. I also recommend reading Brandon Turner's Book on Rental Property Investing and How to Invest in Real Estate with No and Low Money Down.

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Hey Ian! Definitely look at doing an owner occupied loan. If you want to start in multifamily then this is one way you can do it. Find a duplex, triplex, or fourplex, live in one side and rent out the others. FHA only requires 3.5% down. You can also house hack with a SFR But then everyone has to share the kitchen and living space. Up to your personal preference! There is also a book on house hacking in the biggerpockets bookstore.

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Atlanta, Georgia

Be sure to have an investor friendly agent with you! They can walk you through the process and find one that owns property so they can speak from experience and will know what to look for.

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Quote from @Sarah Kensinger:

Quote from @Michael Baum:

Hey @Jordan Alexander, yes I would advise owning property instead of renting them. Arbitrage isn't investing. You might make some money, but you can do that with your W2 job and save, save, save.

What I would do if I were you is take advantage of and FHA low down loan. Buy a duplex or larger up to a 5 plex. Live in one and rent the others. Fix it up as you go, after a year, refinance out of the FHA, rent the other unit, then do it again. You will have one multi family that should be performing and living for free.

Continue to save up and then move into other investments after the 2nd multi family is fully rented.

Working a 9-5 job doesn't yield enough to buy property in a short time. From experience it can take 5+ years to have enough to purchase a decent property, and that is saving, saving, saving! It's not doable if you want to scale decent before you retire, hence all the strategies you can tap into to scale quicker.

Thank you for the advice Sarah!

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Milwaukee, Wisconsin

Quote from @Michael Baum:

Hey @Jordan Alexander, yes I would advise owning property instead of renting them. Arbitrage isn't investing. You might make some money, but you can do that with your W2 job and save, save, save.

Continue to save up and then move into other investments after the 2nd multi family is fully rented.

Thank you for the advice Michael! No to low money down is the way to go!

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Milwaukee, Wisconsin

All Forum Posts by: Jordan Alexander

Jordan Alexander has started 8 posts and replied 105 times.

Post: Land Contract Questions

Post: Two unit on top - commercial lease on bottom

Post: VA loan options similar to 203k FHA Loan?

Post: I am looking to buy off-market properties in Portland.

Post: Looking for guidance

Post: How To Invest In Real Estate by Joshua Dorkin and Brandon Turner

Post: Deciding how to buy my first investment property

Post: First time investor seeking advice

Post: Airbnb Rental Arbitrage

Post: Airbnb Rental Arbitrage