All Forum Posts by: Kory Denny

That's a very specific example but even so... an investor who might still my invest in this property with the proper experience could still make plenty of money. Many investors look for value adding plays. Ways to make additional income and increase property values. 

I'm not going to dump numbers on you but I will say time to start reading and learning about all the numbers that investors use to find and make deals happen. The numbers are very important to understand... all the costs associated with owning property and the understanding of the rental market in your area as well. Bigger pockets has a ton of information for you.

Even so the ways to make money here is having someone pay your mortgage over 30 years, collect the tax benefit of depreciation, any profit from monthly rents and the property appreciation along the way. 

I found this covered in a previous thread. I thought you might need this... bigger pockets - acquisitions manager pay structure 

Id say in most cases it's a part time position starting. Good Luck!

That's a job for sure! I'm not knocking it but seems like too much work for what it's worth. Perhaps try renting out units to rehabbers or contractors in the area on a month to month basis. You seem like a great person to rent from... now find an equally great person to rent. It's a business transaction nothing more nothing less. 

If budget is the concern id start with talking to people in the area you want to buy. Perhaps the "mailman" or someone of that nature to get any clues on vacant properties or absentee owners. You could then go with a direct route by handwriting letters and and/or trying to find their phone numbers or family members that could still be in the area. 

Id check the local laws but 25-50 road signs could serve as a good investment although this may not work for your situation. 

I personally am most familiar with google adwords and online advertising in general. From my experience most lose money advertising online until they have refined their process. There are many variables that come into play with advertising and costs that are incurred. Adwords for instance is ripe with fraud, click farms and other sneaky ways to whittle down your budget as "effectively" as possible. Thus increasing the costs to advertise by most businesses in my best guess over 300%. 

If you do go with the online route let me know and I'll pass a few secrets along. 

Seems like something else is going on behind the scenes here. I'd say if they didn't have the funds or income to cover the lease without the sale of their home then they prob wouldn't meet traditional qualifications of renting anyways? 2200 a month rent means id be looking for income in the $6600-7000 range. Verify employment, check references and such. They may be good for it. 

For you to base your investment off the results of their investment seems unwise IMO. 

Well I had about 90% of my school paid for through scholarship and VA benefits. Here is some of my logic when trying to decide on grad school. Hope this helps.

A few main things here IMO...

Value vs Price - Is the value greater than the price? - Yes

Time Value - Is the value of your time less than the cost of school? - Up to you - Could vary widely

Opportunity costs - Is the value that school will bring greater than that you could produce otherwise? - Up to you

You mentioned school was not really your gig. My suggestion is some type of apprenticeship program. At this point in RE id say go to inspectors classes, appraiser classes or become an agent or broker. None of these require degrees but can provide you with a career you may seem to enjoy, tons of experience and knowledge that you can not buy. 

Might could try some of the boys in Raleigh... I've worked with contractors that drove well over an hour to jobs everyday. 

I can't speak for porcelain or quartz but I did some work with a company that does custom stainless steel that is all American made. If you are interested PM me and i'll direct you to their website. I guess I could let you know that stainless ranges from 60-75 a sq ft. 

I'd have to agree with Bob. That valuation may not last... but a tax sheltered option would be my choice regardless of strategy.

Step 1: Stop the bleeding (1 month goal)

Step 2: Increase income (2 month goal)

Step 3: Seek a mentor (3 month goal)

@Thomas S. brings up some good points as well.