All Forum Posts by: Jordan Drinkhouse

Operating at a loss seems risky.  

Good Job!  I enjoyed the TLDR tips section as well.  Currently in the living in my first house hack and I found your post very motivating.

Thank you @Montrell Brown. 

I am settled in my first house hack and I'm getting the itch to find another deal.  The person who sold us our current duplex also owns the one next door and has expressed interest in selling it to us.  We are very interested in acquiring this because of its proximity to our first investment.  I am still at the point in my journey where I want to do most of the maintenance myself and therefore having our two investments juxtaposed is very appealing.  This leads me to my first question which is what is your experience with living so close to your tenants? Currently we have a family member renting the other unit of our duplex.

Secondly, I am exploring financing options for the acquisition and am considering a partnership with an out of state relative. I do have the financial ability to complete the deal without them. Their ideal is situation is to just bring money to the table and remain hands off of management responsibilities, which I am okay with because I want the experience.  They do have 8 doors in New Orleans, where they live, so I assume they will bring some knowledge and guidance.  My question is what are some structures you have used for partnerships and how did they turn out?  Is it better to just use their funding as a hard money loan or let them buy in for equity.  I understand the answer is not so cut and dry, and I look forward to reading everyone's' thoughts on the matter.

Hello Biggerpockets Community!

My name is Jordan Drinkhouse. I am 25 years old. I believe I got my introduction to financial freedom like many of you… wait for it…. Someone recommended I read Rich Dad Poor Dad. From there I ordered Brandon’s The Book on Rental Property Investing. Next a few Gary Keller books, Chris Voss’ Never Split the Difference, and currently Darren Hardy’s The compound Effect. It’s safe to say I found my path in life. Reading about other successful people =). Just kidding. So that's why I am here finally acting upon a QUICK TIP. Moving from a forum lurker into the light.

I recently relocated with my wife and our pets to the Columbus, Ohio fleeing the grey skies of the Pacific Northwest in an effort to be closer to our families. I am set to take my real estate salesperson license exam tomorrow and begin my career in real estate. I am not expecting to make a million dollars instantly as an agent, but instead I want to use it as an avenue to learn more, meet people, and be an asset to other investors in the area that I may become acquainted with.

My short term goal is to meet as many people as possible, especially locals here in Columbus, and keep learning from others mistakes. I want to make sure my first deal is a success story, and admittedly this stresses me out because I know a bad buy can end a person’s career in this field.

Anyway, thanks for reading. Please leave a reply with any advice, testimonial, or unrelated joke (I’m fond of puns). I am excited to be apart of this community and look forward to speaking with everyone.

Jordan Drinkhouse