All Forum Posts by: Wade Alderson

I am going nuts spinning in circles going nowhere so have made it my goal to just buy a turn key real estate investment in like Ohio or Illinois (but I am not region faithful) by the end of 2017. I have been doing some research on line and am really super confused. I am reading that some turn key require 100% purchase price. 

I don't want to do that. I want the magic of leverage. I don't see the sense in putting $40,000 down on a little turn key in Ohio with $950 in rents when I could put $11,000 down on four  $40,000 little turn key homes in Ohio with $450 rents. 

Am I off base? 

Do I need to start taking road trips?

Thanks. 

I know I am new here and other than flipping mobile homes don't really have a lot of experience but after reading @Brandon Turner 7 figures in 7 years, wouldn't a better idea be to buy a cash flowing 4plex and use the cash flow to pay down student loan. Not trying to do the 7 years to 7 figures, but instead just investing in a 4plex for cash flow to pay down debt thing I think would be the much better choice because even if the cash flow was only $600 and paying the rest out of pocket, as rents go up, the out of pocket goes down, and the cash flow to pay down debt goes goes up as rent goes up. 

But I am just a guy who has been watching Brandon's training videos and has been crunching the numbers using the spread sheet and I just can't wrap my head around paying down debt instead of investing for cash flow. 

After many false starts and restarts with mobile home investing I am looking to get into multi unit. I will be spending the next year getting my credit rating out of the gutter and saving up for the down payment for real estate investing. My goal is to use a FHA lone on a 4plex in Florida in the next 3 years. I saw Turners book 7 years to 7 figures and I figure if it takes me 20 years it's still worth doing. Well done Ryan.

Thank you everyone for the feedback. I thought she was full of bad gas, but I wanted to be respectful, and after spending an hour on Google I could not find anyone saying they charged a flat $300 and 20% but then I got to thinking if I was one of those snake sales men would I tell people i would over charge them on line? So I came here to ask. And you guys have been GREAT! This is why I love Biggerpockets and I want to thank all of you for your impute and thank those of you who gave me a good laugh by your witty remarks. 

I have been looking off and on at property in Birmingham and my sisters best friend lives there. She swears up and down that property managers in Birmingham charge a flat fee of $300 and 20% of the rents. I have never heard of anything so absurd but a google search only takes you so far and Biggerpockets being a community I thought I would ask here first. 

Am I out of my mind to think of buying and renting out property in Birmingham AL 

I am confused by the people saying this can not be done. But I have never done this myself. According to Juan Pablo of 100 Percent Financed you can use business credit to buy real estate. I have not read his $200 book or signed up for his $2,500 course that tells you how to do it, but he has lot of folks that sing his praise. 

I myself am banking on Ben Leybovich Cash Flow Freedom course and Brandon Turner and Josh Dorkin's "The Book on Investing in Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money" book for my guidance. But a whole lot of people believe in Jan Pablo. 

Just saying 

One of my friends in California knows I believe we are in another housing bubble and it's getting ready to pop. (I think that means a flood of renters are going to be coming) 

They sent me this link. http://www.sfexaminer.com/rents-sf-really-dropping... a few months ago and then this http://www.zerohedge.com/news/2016-10-09/its-about... today. 

I (being from California) will never forget what happened as house flippers blew there brains out but cash flow investors did kind of OK. 

But all things being equal for those of you where were around during the last real estate bubble burst. Things start at the coast and then work their way into the center of the county. 

1st. Did it really make things easier for you as housing cost dropped?

And 2nd did the renter pool go up? 

Or am I mistaken about thinking that happens? 

I worked at Franklin Templeton Investments on Black Monday in October 1987 and again when all the chaos broke lose in 2002. 

I was there... I saw how the Bonds/Stocks rules did not work any more TWICE in my life time. (the bond/stocks rule... when stocks go down bonds pay a higher yield so you just move over. Only THAT did not happen and it's still not happening) I watched as what was marketed to retires as "Totally Safe" investments lost 1/3rd of their value in a month. 

If there is one thing that drives me nuts it's when people who have never been through a down turn in the market talk about how things are always great and have no back up plan for when things don't go so well. 

I just want to hear from the veterans who lived through the last real estate bubble and their thoughts . 

 Thanks for the heads up, Done and Done and Searched for More. 

I live 1900 miles away from all the great stuff in Florida. 

I vacation there like 4 to 6 weeks over a year. and keep finding places that look fantastic for investment (low crime, steady employment, low turn over) but I live so far away I am worried about pulling the trigger.

In my head it's a now brainier, get a real estate agent, find a property manager through Angies List, yada, yada, yada, but the fact I can't drive past it on a whim just gnaws at me. 

Any thoughts?