All Forum Posts by: Jordan Thibodeau

Welcome to BP!

Welcome to BP! Congrats on the duplex you have with a 13% cap rate. Did you buy that recently? Does that include the vacancy and repair budget?

Some people will buy properties and once they have significant equity they will refinance so they can buy new properties. Others work full time and use their excess cash to buy more property. While others find investors to partner with them for real estate investments. You can search for blog posts on the different ways to raise capital.

Good luck.

How about both? Continue buying rentals and ask an experienced flipper if you can work with them (Either as a partner or intern) so you aren't risking as much.

Understanding what the investor's criteria is and finding deals that match.

I don't have a good answer to this, but being that you're overseas, I would probably wait until you're back in CA and you can actually take part in the acquisition process. If you join a partnership, you don't have any on the ground control and you're at the mercy of your partner. As a first time investor, I don't suggest that, unless it's someone you know extremely well and they have a track record.

Too many emotional purchases based on hope and fear.

North Dokota sounds too hot and it's looking like a circa 19th century boom town with all of this oil money flooding in. Once the oil boom is over, what's the economic driver for the area? I would look for other deals.

Sounds like you're literraly betting the house on this deal. I would see if you could go for a conventional loan and try to make a down payment of 25%. I don't feel comfotable with you maxing our your credit, and if the deal goes south, you could lose two homes.

No. Sounds like a scam. IMO your llc doesnt have a long track record of bringing in revenue, so the banks are not willing to lend to you. You could try applying for a secured credit card, where you make a deposit of $100, and you can borrow up to that amount. By doing so you would build a track record, which could later justify them giving you a line of credit.

What's your current return on your condo? Do you have experience with managing properties in other states? Why have you chosen AZ or TX? Do you expect your workload to increase by ramping up from 1 condo to 3 properties?