All Forum Posts by: Michael C.

This is an older posting... but...

it seems there were a couple suggestions to pick up a few single family homes to rent out.....

how is this accomplished? Would he split the 125k into say 5 down payments of 25k? and pick up 5 rental properties? Is this something you can do over a short time period? or over a longer period....

from what I'm reading my understanding would be... you could pick up the first property...rent it... after a few months or a year? show the positive cash flow as income then pickup a second rental... and continue the process until you've acquired all 5 rentals?

Hello Everyone... new to the website as well as real estate investing... I'm trying to pull together a list of must read books as well as take in suggestions and advice from experienced investors.

What is the best way (when just starting out) to acquire rental properties? I was looking to purchase a 3 - 4 unit multi home and purely rent out then also buy a single home with an in-law type suite which I could rent out... sounds like a good idea but it unfortunately ( I think) prevents me from buying any further rental properties because of available cash.... What's the strategy for acquiring more than two places and and time periods expected?

Any suggestions on reading material as well is appreciated. Thanks.

Im from Scituate, Ma so I know all the Boston way to speak... though I've been working throughout the southeast the past 3.5 years so my Boston accent has faded and become mixed with a southern twangy accent.... Southerners say I sound northern and my family says I sound southern...but I can at least say Woostah.... now my fiance that I'm taking with me is a born and raised Carolina girl thats never been away from home... so I'm trying to teach her how to say Woostah.... and about things like jackets and gloves and winter hats :)

thanks for the suggestions

Bryan - I'm living in Summerville, SC at the moment. The company I'm with has performed a lot of work in this area so I've been living in South Carolina on and off for the past 3.5 years.. I've lived in Goose Creek, Summerville and North Charleston.. I've been to Charlotte a few times and LOVE it. The companies satellite office is in Charlotte which I was pushing hard to get into, unfortunately it's much smaller and less work so no guarantees...

thanks for the advice on being careful about financial stuff... I was trying to list my situation so people can give me an honest opinion and suggestions... I'd certainly be VERY careful when it comes to separating with my money...have worked very hard to make it... Thanks again

Hello Everyone... Just left a message on the new members board introducing myself.. don't want to repeat too much but I've worked in a traveling engineer position the last 4 years which has had tremendous monetary perks.. unfortunately the work is slowing down and I've been offered a permanent position in the home office in Worcester, MA. I've paid off all debt and come July when I move to Worcester should have 115K-125K in the bank. At that time I'll be working a full time job at 70k/year but want to get the money I have in the bank to work for me.

My original thought was to put about 50k money down on a 3 or 4 unit multi family home (cost about 150k and rent for about $1800 - $2500)... the use another 50k down on either a duplex or a home that has something like an in-law suite to rent out.. I've worked out the numbers and the rent would cover all mortgages and would create around $700 - $1000/month cash flow....

After reading through this site the past few days I'm realizing that maybe there may be some different or better options for making more money.... I'd love some input from more experienced investors regarding what they'd do if they were in my position... I want to review possibilities as much as possible so that when I move to Worcester I can hit the ground running. My company will set me up with a rent free apartment for the first three months which will be a nice transition period... Can't wait to hear your ideas.. Thanks.

Mike

Hello Everyone. I've been browsing the web for months reading websites and info about real estate info before finding this site just the other day... and I wish I found this site months ago.. it's FILLED with so much great information. I think it's great that there's many experienced real estate investors and flippers that spend so much time answering questions and giving input.

Just a little about me (if anyone reads this), I'm from Massachusetts and have had a traveling engineering position since graduating college. The pay is excellent and in the last 4 years I've paid off 40k in school loans, purchased two vehicles that should last me a long time and saved 115k. I'll be getting married next spring so will have to give up a little of my beloved money to help with wedding costs and honeymoon.. Anyways, the work is dying out and I'll be transferring to the home office in Worcester, Ma with a significant drop in pay (no more per diem, bonuses, overtime etc)... but a salary of about 70k. What I'm looking to do is make that 115k I have in the bank work for me.. I have my ideas of how to do that though after reading through this site they appear to be somewhat conservative so I'm joining this site to ask for input from more experienced investors about what they'd do in my position. I'm currently working in South Carolina but around July of this year will be permanently moving to Worcester, Ma. I'm 26 years old, have zero debt, will at that point have about 115k-125k in the bank, have excellent credit and will be working a full time (40 hour) job. I hope to soak up as much info from this site along with other resources so I can hit the ground running in July when I make the move.

Thanks so much for reading this!
Mike