All Forum Posts by: Joe G.

oh my!  I moved to San Angelo recently and didn't think BP reached here...

@Kerry Baird, I have a lender I can recommend.  To be honest, crazy to see your name investing in this area.  

BP experts,

I am in need of sage advice on how to proceed with my investments.  Call it strategy, business advice, or wise counsel...I need another's view. 

Does anyone know a service? Business consultant? 

Quick summary; I'm at 11 properties with strong cash flow and equity, looking for advice prior to next steps. 

Thanks in advance!

vr 

joe

@Ali Masoudi

just about every market appreciated this last year (about).

with the four drivers (appreciation, deprecation, cash flow, and tax advantage) which is most important to you?  

WA, just outside Settle is a crazy market right now.  So is outside of the DC Metro area. 

Moving forward with a property in an area where you have relationships/connections and combining that with your goals of the four drivers...

@Joanie Meiman

have you vetted the contractor first?  do you have any relationships with this contractor already? 

how do you plan to manage any tenants?  I personally use a Property Manager and luckily they also manage my contractors for me.  They hold funds until work is complete and inspected.  

@Tanner Foy

You are getting some great advice on the 'mechanics' of this game.  I kept a tally of the number of lenders I called but stopped counting after 75.  I even started telling the lender they were the ## lender I have spoken with.  

Learn to ask the best questions for your situation (LTV, current rates, fees, etc) to see if the lender suits you. With most lenders, I can figure out if they are a good fit for my situation within about 5 min call.

@Tyler Foy

Jump in the deep end and buy.  Do your research of course.  Nothing beats hands-on experience.  

@Karla Prado

Welcome to BP.  All your strategies are proven methods, just have to pick the one for you.  

My advice, analyze a market or property for each strategy to see how it works for you.  For example, look at this duplex and see how you could make it work for you (live in one side & rent out other/ do short term rentals/ etc).  

@Jake May @George W.

Concur with all and want to touch on military again.  Military provides so much including a solid financial base to your life, besides all the training and life experiences.  Formal education (trade school or college) also provides.  Reach out if you have more detailed questions.  

Jake, thanks for mentioning military.  

@Stephen Bennett

I have a property in Monroe, NC.  The home costs are much cheaper and the recent toll road allows more traffic to flow in that direction.  $30K down would be 20% for a $150K home and that is do-able in Monroe/Indian Trail.  That will leave you some money for repairs.  Self manage the tenant and save money while getting the experience.  

@Kevin Mcnair

I recently went with a local lender.  They offered a slightly higher rate, but in-house appraisal with 20% down.  Call around.  I have called over 75 lenders in my years...in constant hunt for the best ones for my situation.