All Forum Posts by: Nicholas Pedrick

@Aigo Pyles

Thanks so much for the response. I was really focused on investing close to home which in turn made it difficult for me to understand why this strategy was so popular. I definitely can see the appeal if I was looking to invest outside of my state. Appreciate your help thank you

@Adam Cade

Thanks for the response. Definitely feels like a great stategy if you don't have a ton of time or aren't investing in an area that isn't close to home. Really appreciate your response, thanks again

@Tom Ott

Thanks for you response. To make sure I understand, it's for people who don't have a lot of time during standard working hours or individuals looking to test a market. It feels like an option if I was just looking for a way to increase my cash flow not necessarily grow equity over time, is that on track?

@Adam Cade

That makes much more sense to me. Time and location is huge and was not really part of my consideration.

do you feel like this will be a long-term strategy or just a way for you to break into real estate investing sooner?

Thank so much for your response

@Will Fraser

Thanks for your response. I just don't see how buying something at the top of market makes sense financially. Especially since you would be completely dependent on how the neighborhood market for that property is performing versus forcing the equity yourself. From what I understand in life anything worth having isnt easy

I'm looking to start investing in properties this year. I find myself leaning towards properties that I can rehab on some level to ultimately gain more equity overall. However, I see a lot of experienced investors building their strategy around turn-key rental properties.

1.) Why is the strategy so popular?

2.) What are the benefits of purchasing Turn-key rentals vs. Properties that need a little bit more help?

Any advice and insight from experienced pros would be very helpful in helping me figure out my next step with investing

Thanks for all your help!

@Zachary Giles

From everything I have been reading and all the experienced investors I have tapped into. Paying your self first is the most important step you can take which in turn forces you to become more creative with finding ways (deals) to attack whatever debt you have.

The second most important step is taking action and the longer it takes to jump in the longer it takes to acrue long standing wealth .

I'm in a very similar situation where I have a ton of debt from student loans. If I wait to pay these debts off, I wouldn't be in a position to move forward with investing for at least ten years After crunching numbers, I found that a lot of deals, after expenses in my area, will cash flow between $300 - $600 a month which in turn I can throw portions of that income at my debt and build wealth a lot quicker than relying on my current income to take care of it.

Of course I'm not recommending you to overextend yourself. But from one beginner to another, if you have the extra money to throw at your debt, I think the earlier we start the brighter our future will be.