All Forum Posts by: Luther A.

@Curtis Curley

My answer is invest in bitcoin. Yes, I said bitcoin. As crazy as it may seem someone suggested this to me a few months ago and I have already doubled my money in a few months. Crazy right? The price right now is about ~7800 and many bitcoin enthusiasts believe it will hit 20K in the next year. Once it hits 20K take your money out and buy some properties thar cash flow. 

Every place I for homes that are cheap, they either have high property taxes or rent is very low. My ideal property I want to buy is between 30K and 50K and I'd like to charge about 900/mo for rent. With these stats is there a software tool I can use to find areas that satisfy my numbers? I am open to any techniques as well.

I watched the BP podcast about Ashley Hamilton investing in Detroit. She invested 20K in a SFH and rented the place out for $900/mo. That is definitely a home run. On top of that she owned the house out right with no mortgage. You would think since she announced these wonderful deals all the deals would be gone by now. However, the same deals Ashley got in Detroit are still there right now. Talk about "Buy low Rent high" she killed it. As soon as I save up enough money Detroit is the first place Ill investigate. I hope by the time I have the money these deals still exist.

I have heard of investors getting properties for really cheap in Dallas, But every time I look on Zillow or Redfin I see no properties close to that price. Not even fixer upper properties. Everything is really high in Dallas. How are these investors finding properties with these prices?

@James Galla

Thanks for your response. I am curious what kind of properties you normally invest? I am assuming 30K club is probably not your thing.

@Syed Ahmed

Wow, thats pretty good cashflow. I am still saving for my first rental and should have enough saved in about 6 - 9 months. Do you have any pics I'd love to see the property. Which bank did you use for financing and what city did you purchase?

@James Galla

What is your ideal SFH deal look like? Purchase price, rehab costs, finance terms, rent, and cash flow?

I want to buy 100 properties using the BRRRR method. My plan is to buy my first property with straight cash. Renovate the property then rent it out then refinance to get out my initial capital then do it again. I want to do this 100 times. Is there a max number of times I can do this?

@Samantha Smith

I watched many video blogs on how Lisa Philips did it. She relocated to an investor friendly area and stayed there for a couple of years while she worked at her job and invested in real estate in that area. If I recall she bought a property for under 30K then rented it out for 700/mo. Then she relocated to another investor friendly area and did the same thing. This way she could babysit the contractors directly instead of depending on someone else. This is my plan as well so I can maximize my rental income for the least amount of cash. If you want to watch her youtube videos go to youtube and search for Lisa Philips and I think her channel is called AffordableREI.

Yes, this will be my first time investing in real estate but I am learning a lot participating on BP and thinking to pull the trigger by end of year. I want to save up enough cash to buy the property cash then use a personal loan or no interest credit cards to finance the renovation if necessary.

@Samantha Smith

In my area (Dallas) we have a lot of investor competition which drives up property values and lowers rent.  Since, its not going to be worth it buying in my local area I am forced to either wait a while, buy outside my local city, or buy long distance. Currently, I am looking in Georgia because the properties are reasonably priced and cashflow is excellent. Good luck on your venture I'd like to know what you end up doing.