All Forum Posts by: Matthew Middleton

Oh, and to clear something up. Wholesaling was not pushed at the meetup. It was simply recommended, as I was concerned with startup capital.

Ok, ANYWAY. Thank you all for your input. I'll be taking a step back and reevaluating my options, while stacking cash for the future.

Well, that took a different turn. Anyway, thanks for the feedback. We still have at least 2 years here as my wife may have all of her student loans forgiven by the state if we stay 2 more years. I think I'm just going to stack as much cash as possible this next year. 

@Account Closed Thank you for your advice. That's honestly what I'm considering. It would give me more time to build up some capital before the move. I'll also start networking with the DFW investors that my uncle in Plano is connected with. He does large MF syndication, so he's bound to know someone I can meet up with whenever I visit. I'll be out there in July.

@Account Closed Uhm...

@Account Closed The feeling I got at the meeting was, welcoming. I was able to introduce myself to seasoned investors and get some feedback on my original plan with SFR. Wholesaling was recommended to me but I'm not sure if that's the path I'd like to take, but I am still open to it. Lucky for me, my days off line up with many meetups so I will be attending each and every one I am able to. There is so much to be learned at these events.

Good afternoon everyone,

I've been reading thread after thread of SFR investing on this website and I've found a ton of useful information. I also attended my first investor meeting last week and it was quite informative. First I'll start with the good news. We just received an offer on our home yesterday. We listed at $330k with a goal of somewhere between $320k and $325k. Surprisingly enough, we received an offer at our original asking price AND they're covering half the closing costs. The net profits from the sale (assuming it appraises) will be used primarily for our first deal in the future.

Of course there are numerous ways to find properties for sale but I've just been browsing the typical websites(Zillow,trulia etc.) and homes are priced pretty high out here these days. I see threads of people finding properties under $100k in their towns but that would hardly get you a condo in a questionable side of town here. Also, I love the quad-plex house hacking technique, unfortunately, Vegas isn't known for small MFR. Eventually, my wife and I will be moving to the DFW area, where less expensive SFR are much more common, as well as small MFR.

So my question is: Should we purchase another inexpensive SFR for ourselves this year and look into turnkey SFR in the DFW area? Considering rents have increased to over $1400/mo for a 2bd 2ba, it doesn't make much sense to rent here.

My goal is slow and steady passive income. I'm not concerned with quitting my job in 5 years. I just want to build a portfolio SFR and/or Small MF homes over time, with enough cash flow to cover my primary bills.

I greatly appreciate your feedback,

Matt

@Jon Lee Ah, unfortunately I'm still stuck in the rat-race, so I have to work. Ha. I appreciate the invite though. Starting next week, I'll be off Wednesdays and Thursdays.

This will be my first REI event, and I am pretty excited about it. Also great that it's only 10min from the house. Ha. See you then!

@Jon Lee  Thank you very much sir. Yes, I'd love to talk sometime soon. Thanks for the link to the events, as well.

Matt