All Forum Posts by: Nick Oberle

@Jordan Moorhead thanks for your insight. I am finding I need to educate myself more. I am what some may call a more conservative investor. I am not at the paralysis point, just need to read more and continue listening to the podcasts.

@Jordan Moorhead @Jordan Moorhead. Hi Jordan. I am downsizing my personal residence and a condo fits my lifestyle. I have owned and rented a house in OR and didn’t have a bad experience. I have considered townhouses, single family homes, multi-family, boat slips to name a few. I have been listening to the podcasts staring with podcast #1 and have read the BiggerPockets books. They talk a lot about $100K rentals and around the cities it seems like those are harder to find, are in areas I don’t want to own a rental, and not interested in section 8 renting. I also don’t like carrying debt so I want to pay cash for my personal residence. Save up some money and then make a decent down payment having some money left over for rainy days. I make a good income so I could make a healthy down payment in less than a year. Once the place is rented my plan was to use rental income as well as my income to pay off the loan quickly and purchase another rental property compounding payments on each subsequent property. I equate this to dripping with dividend paying stocks only in real estate where you physically own something other than a piece of paper. As a seasoned real estate investor does this sound like insanity?

@Tim Swierczek. Tim, thank you for your perspective. I have somewhat of an understanding in leverage, I don’t like owing people/banks money which is why I would look to pay cash. Also don’t want to get caught with my pants down should the market correct. I also need to educate myself better about leverage in re. Thank you again for responding, I do appreciate it.

@Ryan Schroeder. Ryan, thank you for giving your experience. I do appreciate your perspective.

Hello BiggerPockets community! I am new to the BiggerPockets forum. I am seeking opinions from those willing to provide one. I sold my house and am looking to buy a condo downtown St. Paul. I am looking in the $200K range and will be paying cash for the condo. The goal would be in the next couple years turn the condo into a rental and purchase another and continue this cycle. I am a buy and hold type of investor. I do have a great full time job that pays me exceptionally well and am not looking to quit my job, just start generating passive income. I understand the idea that HOA’s kill cash flow and can increase at any moment for less than good reasons. I also understand you relinquish some control of your investment. I like that condo complexes have numerous owners that can act as babysitters for tenants, at least that has been my experience in past condos I’ve owned. Since I have a full time job I don’t have time to oversee everything involved in real estate investment so I will also likely hire a management company. Please poke holes in my idea and pick it apart, I won’t be offended if you think this is the dumbest idea in real estate investing. Thank you in advance for expressing your opinion. Best Regards, Nick