All Forum Posts by: Kevin Feng

@Daevion Poindexter 45 yrs old & a total newbie with REI. I started with watching bunch of youtube by Morris Invest and Rich Dad. Listen to audio books from Rich Dad's. Stumbled on Rootstock to get my feet wet, brought my first property in TN. The rest is leaning on the fly. Join BP and seek advice from many of the folks here. Keep learning and buying houses.

Advice ... Come up with a plan or goal first. Although not necessary but if you are using LLC...Set them up first. Its easier. I am kind of backward now. Ha..Ha..

Definitely a shout out to all the BP members, best of the breed here.

Anyone has thought on Home River as property management?

@Koleton Daley ha..ha.. unfortunately I am using them right. I brought my first house there and experience is not great so far. Any recommendations?

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $205,000
Cash invested: $45,000

Duplex unit at a great area.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $51,000
Cash invested: $53,000

Single family house located in Memphis, TN.

Lessons learned? Challenges?

Leverage. This is a wonderful concept to grasp prior to dive right in. Learn leverage well. Challenge is minimal if all cash. Cash is king. :-)

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I used RoofStock on this deal. It's easy and they do all the hand-holding so nothing to worry about. I would recommend them.

@Daniel Han Thanks.  Sound like you completed the purchase and closing remotely.  I appreciate the learned.  

Not sure if this was answered. I have sat through some of Brandon's webinar.  The word keep coming up is "hassle".  Now, I live in NJ.  I use Roofstock to purchased my first property which was fairly easy and straight forward since I put cash to it.  Just to get feet wet.  Now I am looking to expand beyond Roofstock, does that traveling to the state to look at the property?? or is there a better way?  Let's say I am interested on a property in OH (whatever) and I would like to bid on it.  How would I do this without being on-site?  This is little fuzzy for me but I am guessing I need to fly there.  Although I do hear that property can be purchased and owner has never even seen the house.  So I am puzzled.  Any thoughts?

That's a great story and opportunity.  I am new to real estate also.  Learning on the fly but definitely inspired by the success stories.  I am still wishy and washy on whether to be full time or not, but since being unemployed and going into self-employed, it's a bit of a learning curve.  I did purchase 1 property on RoofStock, free and clear with rent at $775.  Working to close on a duplex with rent on unit 1 at $825 and second at $795.  Definitely, need to get the second to match up.  Still new at this and figuring out the "How" side of real estate.