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All Forum Posts by: Jordan Dekker

Jordan Dekker has started 4 posts and replied 12 times.

Post: BRRR vs Live-in-Flip vs AirBnB for NEW Investor

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

@Mike McCarthy

That's part of what I'm thinking. Move at my own pace, work on it when my work schedule allows, and I have a friend who's a general contractor who can help me out as need be. 

Post: BRRR vs Live-in-Flip vs AirBnB for NEW Investor

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

@Jason Tressler

Thanks for the input Jason! I'm thinking the AirBnB will end up causing me more hassle than it's worth given what my immediate goals are.

Shoot me a message and let's chat!

Post: BRRR vs Live-in-Flip vs AirBnB for NEW Investor

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

@Dan Perrott

What have you expanded into? Thanks for the feedback!

Post: BRRR vs Live-in-Flip vs AirBnB for NEW Investor

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2
 @Patrick Soukup 

Thanks for the reply Patrick! I will definitely consider your opinion and will do my best to keep everyone updated on my decision. BTW, I love Fort Collins! 

Post: BRRR vs Live-in-Flip vs AirBnB for NEW Investor

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

Hey everyone! 

Long time listener of the BP Podcast! I love the value this group has been providing me since day 1!

I work in eCommerce and make pretty good money. I feel like my career is moving in the right direction. I am constantly thinking of new business ideas. Knowing this about myself, I know I need to commit to some level of passive income to fund my rather frugal life that I live. My rough plan is to make my money in business and invest some of those profits in RE. 

I live in Indianapolis and know that it's a pretty popular place to invest. I see a few potential investing options that could allow me to dip my toes in the RE game while minimizing risk. I'm not trying to create a second full time job because of all the other stuff I have going on. 

I'm a 24 year old single male, so I feel like I can pretty much do whatever I want in regards to getting started. I originally was thinking of buying a duplex and renting out the other half. Pretty doable, but I'm not crazy about living in a run-down area. I lived in junky places before and I don't have too much issue in it, but it's definitely not my preference. Along these lines I've thought of maybe getting a duplex in a nicer area but doing AirBNB / STR in the other half? Might be more work then I'd like, but it's a fun little side gig nonetheless. OR do I do a live in flip, live in it for 2 years while I fix it up real nice, and try to make 50k on it?

Right now I'm leaning towards the flip because I think it'd be fun, I could live in a slightly nicer area, and I would learn a TON. I'm not overly concerned with making a ton of money with my first deal, I'm just trying to learn a lot without taking too much away from my "day job".

I know all these paths are viable, but given these options what are your thoughts? Any perspective or advise is greatly appreciated. 

Thanks so much!

Jordan

Post: Cash Flow is King

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2
Originally posted by @Chris L.:

Welcome Jordan,

Where are you going to school and have you started any real estate investing yet?

Chris

 I'm going to Indiana Wesleyan in Marion.

I'm actually considering my first deal near my college campus. Not sure how to best estimate costs to see if it's a good deal. 

Post: Considering first deal

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

Hey everyone

Here's my situation. 

I'm a young guy wanting to get into my first deal. I have some good starting capital (approx. 30k initially) to get started in my RE business.

I'm likely dropping out of college because I have business desires that have made it nearly unbearable for me to waste my time in class. I do, however, treasure the relationships I made and think that's very important. What I'm considering to do is to drop out after this semester, buy a property very close to my (private) university campus (about 3000 students), do some fixing up this summer, and then living in it for at least a year with some of my college friends who will remain in school. This way I can still live with some of my close friends as well as my friends who still attend my university. At the same time I'm able to pursue my passion for business.

I want to learn everything there is to know about buy and hold RE investments and I think this would be a great way to do so. Houses go for 50-100k on average in the area so to me it's a pretty low risk investment to start out with. Being close to a college campus, I feel it should be fairly easy to get renters each year. Currently there aren't too many high quality options in the area so I feel I could make a property stand out.

I'd love to hear any advice people have given my situation. Feel free to touch on anything I've mentioned above. Also, I'd really appreciate it if someone would look at a deal I'm currently looking at. It seems like the perfect place to start, I'm just having a little hard of a time estimating some numbers. I have used the BP Deal Analyzer tool but my numbers came out quite high. The mortgage and insurance (according to Zillow) would be about $350/month for a house with two units (a 3 bedroom, 1 bath and a 1 bedroom, 1 bath). They both currently are being rented for $630/month and $520/month ($1150/month). Message me if you'd be willing to check it out for me. I'm in Marion, Indiana.

Post: Young and Ready to Invest in RE

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

Thanks @Derek Gendig! It is nice to no know someone who has experienced what I'm currently experiencing. Don't be surprised if you get a message from me in the future when I'm struggling to stay in school :) 

Thanks for the encouragement @Arnell Enriquez and @Dan Perrott! It really is appreciated.

Woah @Shawn Holsapple! Book crazy but I love it! I've already got a stack of books I need to get through, but many of those on the list will be next as I start my real estate ventures. I will take note for sure :)

Post: Young and Ready to Invest in RE

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

Haha awesome! Thanks @Rodney Kuhl! Sterling actually commented on this post earlier and I have gotten in contact with him. I will definitely take you up on your offer once I devise a plan on where I want to head! Thanks again for taking the time to offer your assistance. Please let me know if I can ever be of any assistance to you.

Hey @Jim C.! Thanks for your time and willingness to help me out. I was actually just out on Cedar Lake yesterday :) I'm going to connect with you right now. Also, my major is Entrepreneurship and I go to Indiana Wesleyan University. 

Post: Young and Ready to Invest in RE

Jordan DekkerPosted
  • Self-Employed
  • Indianapolis, IN
  • Posts 12
  • Votes 2

Hey @Jeb Brilliant! Thanks so much for the comment.

Indy is a great city! I think it's going to be a great market for awhile. I have a professor who is a Real Estate investor in Indy. This fall I plan on getting in contact with him. Hopefully I can get some good advice that can help us all out.

Good luck to yourself as well! Expect a message from me in the future :)