All Forum Posts by: Joshua D.

@Wesley Canhedo

I feel like a broken record sometimes but all most all of these type of questions come back to one question...

"What are your goals?" Will the equity help you buy more properties. Or do you wanna just sit on $1000 a month.

If I was gonna rehab I would prolly sell right away to realize the equity that you have in it.

Rental seems fine (depending on your goals). But I would make sure that $1000 is actually profit and not just $1000 over the mortgage payment.

@Kimberly Gamez

I'll bet your glad you sold your restaurants before this covid madness!

Good for you guys and your growth!

@Kimberly Gamez

Ultimately it's started out of market need. But if you wanna hear the whole story listen to Josh Dorkins Podcast of the story of it. I think it's like episode 100 ish.

@Joseph Miller-Hall

Well I got bad news for ya... I'm feeling similar feelings... I'm 33, I just finished deal #28 and am closing on #29 and 30 next month.

I have 14 buy and holds and a good amount of cash flow.

But guess what... I'm hunted by the thought that I should be so much further ahead. If only I would have worked harder, hired people, found a mentor, bought bigger deals. Etc...

The feelings never leave. Ask Elon musk or anyone at the top. They all tell ya the same thing.

Just take big action NOW!

I have for kids and they are the best! It's a blast right!

@Dustin Sanders

It may be that you need to wait 2 years before they offer conventional financing again. They usually want 2 years before they even count ANY of your rental income.

It's a general rule to make sure you know how to manage rentals before lending you like crazy.

In the mean time grow with a commercial lender. Honestly your better off figuring this out anyway because it allows you to buy 5+ units and makes you get more creative.

Once 2 years is up go back and get your other 8 conventional loans.

@An Ho

I'm a bit confused. You parents want to buy you a 1 million dollar house and make payments for you? Then you can live for free, sell your house and invest.

Is that right? Why would they do that? Are there strings attached with this money? Do they have expectations? These things can be messy. Ide clean that up first...

Then ide get clear on your goals. Personally ide stay away from wholesaling. If you wanna be active do BRRRR. Its way more reliable for wealth generation. Unless your some kind of marketing genius.

Have fun!

@Matt Maupin

I think you win this thought excercise! Take the 10k a month sell it right away for 3 million and then invest it!

Yah... you win.

@Felix Stone

For me it was having buying power.

Accsess to capital is so vital.

@Tyler White

My top tips for you... (Not in order)

1. HOUSE HACK!

2. HOUSE HACK!

3. Hack Housing

4. House hacking

5. Build a million dollar net worth

@Jacob Thompson

Welcome to the site sir. I would encourage you to search for members based on your areas and message them to see if you can pic their brain over lunch.

Good luck and enjoy the journey!