All Forum Posts by: Jeff Wallace

You are making an incredible income for a 20 year old! That's the good news.... the hard part is going to be not acting like an A$$ho!e and spending the bulk of that cash.... You should live in a bedroom in someone's house (think mom and dad) and SAVE and INVEST 75% of that salary for the next five years. stay the course and you will easily be retired by 30. As fo how to BRRRR - that's easy save aggressively until you can pay cash for the purchase and renovation of those cheap Baytown houses (it won't take as long as you think if you focus) and after the rehab is complete and the tenant is in place, refinance all your cash back out for the next property....then do it all over again.

Yeah, go to a few more auctions and pick up all the info you can .... and like @Ethan G. said spend an hour talking with someone who knows the ropes - you will get a crash course in the process.

As I started to type a response to each of these questions, I feel that a better response would be to advise you that you are not ready to buy at next weeks foreclosure sale - take some time to learn the process, as well as the hurdles and pitfalls associated with this type of purchase - you have asked some good questions, but there are literally a dozen more areas where you need information/education - buying out of foreclosure sale can be a source of good deals, but almost as often can be a way to lose your ***

Nope - you gotta have cash - or a partner who does...

Well, I did have an endgame number - but after traveling for the majority of last summer, I realized that I couldn’t wait to get back into “the game” - travel and recreation left me somewhat personally unsatisfied - so, I guess to a small degree I will always be looking for the next “deal”

It’s probably synthetic stucco and a lot of people are scared to death of the product due to past lawsuits primarily from improper installation of the product – get an inspection specific to the stucco and the water penetration - text me and I will share contact info for the go to company in Houston - inspection will not be free and this guy isn’t cheap with the repairs, but the job will be thorough and done right

I’m in the woodlands - feel free to reach out.

jeff

@Joseph Brasile - Yeah, Let's get together this week and we can discuss what value we can offer in your journey - As far as I'm concerned, you can shadow both projects from start to finish if you think it will be worth your time...

@Joseph Brasile - we are just getting started on a couple of projects that will require some light plumbing work - If you are interested

@Misty Monk if you are getting paid out in a lump sum and mixing with cash - you wouldn’t need to use the BORSA at all - unless they are paying out to another retirement account??