All Forum Posts by: Michael McMullen

Ari Goldschneider Hey Ari, congrats on the success over the years. I'm just wondering how you financed your first couple of deals. Thanks!

Hi BP, 

I have recently started looking at the market around my small hometown as well as the market around Akron, Ohio because I plan on going to college there. When i went on to Zillow and Realtor.com, I quickly found that there were an overwhelming amount of foreclosures in the city (I was focused on single family and multi-family homes). I do realize that I have only looked at a couple of cities but it still seems strange to me. Are there a lot of cities with a lot of foreclosures like Akron? Also, is it a bad idea to invest in real estate in a city where most of the properties listed are in foreclosure even if everything is cheap? Just wondering, wouldn't be too hard to step outside of Akron just curious. 

Drew Eldridge Wow!! I thought I was starting early because I'm just starting to learn the basics and read some of the books, like Rich Dad Poor Dad, in high school. Guess I'm a couple years too late! Congrats keep him going!

@Daniel Dempsey

Thanks for the reply and the advice Daniel! I just ordered my first book, The Book on Investing in Real Estate with No and Low Money Down. I can't wait to get into it! Best of luck for you.

@Thomas S.

Thank you for the reply. I can see where you are coming from by saying I shouldn't waste money on a college education if I just plan on quitting but I discovered real estate after I had already been accepted. I have scholarships and will be in the honors college so I will not be paying very much as it is. The degree I receive will hopefully give me enough income to start saving to put towards my investing. Also, if I come to realize the world of real estate is not for me, I still have a nice career to fall back on.

@Michael Swan

Thank you for the advice! Seems like a solid plan and trust me I will be reading every book on real estate investing I find. Thanks again.

Hello BP!

You can definitely say that i am "newbie" to real estate investing and BP. I am currently a high school senior and I have recently been introduced to the world of real estate investing. I will be attending the University of Akron in the fall for Mechanical Engineering and hopefully one day i will be able to work full-time as an engineer while I gradually grow passive income through real estate to a point where I don't have to work anymore. That sounds like a good goal right? What really intrigues me and what I wish to do is to buy-and-hold rental properties. This brings me to my first question. What is best for starting out, single family or multi-family complexes?

My second question is, how can a kid fresh out of college who comes from a family with nearly no money be able to afford some of the down payments and beginning costs of most properties?

And finally, any advice on what i should be doing now to prepare for the world of real estate?

Sorry for the "newbie" questions I'm just trying to learn if real estate investing is right for me. I still have a lot to learn. Thank you!

Hello BP! You can definitely say that I am a "newbie" to real estate and BP. I am currently a high school senior and I have recently been introduced to the world of real estate investing. I will be attending the University of Akron in the fall for mechanical engineering and hopefully one day I will be able to work full-time as an engineer while I gradually grow passive income through real estate to a point where I don't have to work anymore. That sounds like a good goal right? What really intrigues me and what I wish to do someday is to buy-and-hold rental properties. This brings me to my first question. What is best for starting out, single family or multi-family units? Secondly, how can a kid fresh out of college who comes from a family with nearly no money be able to afford some of the down payments and beginning costs of most properties? And finally, any advice on what I should be doing now to prepare for the world of real estate? Sorry for the "newbie" questions I'm just trying to learn if real estate investing is right for me. Thank you!