All Forum Posts by: Moisey Meyer

"every attendee will need to be over the age of 21" Well I guess, I'm no longer attending! :/

@Dovid Staples Thank you for the link! I'll check out podcast #138!

@Ken Breeze I definitely plan to! Multifamily is what I would want for the long term. At the moment though I'm looking at anything and everything I can find a creative financing solution for. I know it won't be easy, but I feel like this route will help grease the wheels and get the ball rolling. I will say though that I don't know much about storage units, but i will definitely research them some more. Do you have any suggestions on where and what i should read up on them?

Does anyone know of a good contractor who can come take a look at a property with me and give me a line by line estimate of the repair costs in the Seattle area? I don't mind paying for their time, but it would be preferred to pay them after the work is done and the property is purchased.

Originally posted by @Linda Moore:

Originally posted by @Moisey Meyer:

Wow! I really appreciate all the feedback. Id like to think that i have my feet grounded in reality. I have always lacked the taking action part, which is something that I'm working on, I've taken my larger goals and broken them down into smaller goals and have been consistently meeting them lately. joining BP wad part of me taking action instead of being passive. I've been analyzing deals in the area, and trying to find something that has a decent cash flow. i have a strong Brrr candidate with 50k repairs but 100-150k in value increase. going to view it now, and ask my agent friend to pull up some Comps. I'm determined to work on my discipline and execute on my plans. ive set monthly goals and an I track to meet them for the second month in a row. I'm cautiously optimistic and trying to be very active in making my plans come to fruition.

 Call me a fruitcake but is joining Bigger Pocekets  really a big WAD taking action?

Personally i analyze lots of deals,  not once did i consider that as action. Getting my agent to get some statements is action.  Getting on the Bus to get a feel is taking action.

Asking questions on BP is not IMHO taking action.

You need to be clearer about your deal. $50,000 will get you increase of $125,000.   Are you buying a million dollar property  or a C D class $50,000 fixer?

Well, it is all a matter of perspective. Joining BP and getting more involved is arguably more of a step than sitting back and not doing anything. Analyzing real world deals to see if they have potential still builds that practice and that knowledge base, which is an important step to take. If I hadn't taken those first two steps, if I hadn't begun to take action, then I wouldn't be moving forward. Thanks in part to those two steps, I've found a very strong candidate for a BRRR property, discovered that the seller is very motivated to sell giving me an idea of how flexible the pricing is. I have a real estate agent pulling some comps for houses in that area. I also have some friends and family getting me into contact with another Investor in the area so that I can look at either partnering with him on the deal, or possibly talking to him and seeing if he'd be willing to mentor me.

I am of the personal belief that it doesn't matter how big or small the steps you take are as long as you're actually taking them. Anything other than being passive/reactive is taking action, in my humble opinion.

Yeah i am aware of the "mention" and "quote" feature. On mobile that doesn't work, so unless I'm at home i can't use it

based on the trinity study you would need at least 25-50 times your yearly expenses in investments. that way you can withdraw 4-2% of your investments without touching the equity. I think aiming for this is a good milestone if you plan to fully retire. Also keep in mind that if you plan to keep doing real estate just bring in enough to match your monthly expenses and then some. that's like 4k monthly for most people, however keep in mind that if you reduce your expenses, get creative, and house hack a bit you can get your expenses down to 1-2k monthly.

are you planning to rehab the property at all, or just refinance at the same value?

Wow! I really appreciate all the feedback. Id like to think that i have my feet grounded in reality. I have always lacked the taking action part, which is something that I'm working on, I've taken my larger goals and broken them down into smaller goals and have been consistently meeting them lately. joining BP wad part of me taking action instead of being passive. I've been analyzing deals in the area, and trying to find something that has a decent cash flow. i have a strong Brrr candidate with 50k repairs but 100-150k in value increase. going to view it now, and ask my agent friend to pull up some Comps. I'm determined to work on my discipline and execute on my plans. ive set monthly goals and an I track to meet them for the second month in a row. I'm cautiously optimistic and trying to be very active in making my plans come to fruition.

Wow! I really appreciate all the feedback. Id like to think that i have my feet grounded in reality. I have always lacked the taking action part, which is something that I'm working on, I've taken my larger goals and broken them down into smaller goals and have been consistently meeting them lately. joining BP wad part of me taking action instead of being passive. I've been analyzing deals in the area, and trying to find something that has a decent cash flow. I've actually found a very good BRRR candidate in my area. 50k in repairs and Reno, but 100-150k in value increase. I'm going to view the property now, and asking my real estate agent friend to pull up some Comps for the property. taking action and maintaining discipline is something ice struggled with, but I'm cautiously optimistic, very passionate, motivated, and determined to follow my plans and meet my goals. March i met my savings goals, I'm in track for