All Forum Posts by: Owen Dashner

Yes.  I will always continue to buy properties at a discount relative to current value, irrespective of what the market is doing overall.  The general strategy is to dollar-cost average my purchases and always buy at a discount.

The shortcut for this is to join your target city or cities' real estate investing groups and REIA's on Facebook. Every major city has them. Once you are in the group, start watching for who the key players are (you'll be able to tell by their contributions to the posts and discussions). Once you have done that, start reaching out to them and introducing yourself and asking for referrals to the people you are looking for. Trust me, this works. And reach out to the owner of the FB group and introduce yourself. You might consider flying in and attending a local meetup/REIA after you narrow things down to a specific market or markets. A couple of my business partners run an apartment syndication business, I'd be happy to introduce you if you have any interest in that. Good luck to you!

Real estate has given me freedom to leave my job and allow my wife to leave hers.  It has given me the ability to level up my peer group and start other businesses and partnerships. I take my daughter to school every day and coach her in sports because of real estate.  Real estate has allowed me to attend meetups, have lunch/coffee/beer with other investors when I want to.  It has given me the freedom to start a podcast. Real estate has given me the freedom to travel every month if I choose to with friends and/or family without worrying about money.

Yes.  Either the entity of hers or she personally could create a 2nd position note.

If you took over the existing financing, she would have to be comfortable with the seller financing portion being in 2nd position behind the existing mortgage.

The new note would essentially take the place of your downpayment (or a portion of it, depending on the amount).

Short answer is - no.

Join your local REIA and join/start a local meetup! You will get the opportunity to meet other investors - newbies, experienced investors, lenders and everything in between. Those contacts might lead to job and/or mentorship opportunities as well as partnerships and lending relationships. Great advice already in the above posts, but there is no substitute for meeting people in person who are already where you aspire to be.

@Ted Kaasch

@Chastity Cortijo what?!?

Where was this, Chernobyl?? Teach me your ways!

OMG - you just won the Internet!  A $50 house purchase???  Mic drop. 

I finally get it.  This debate has raged on since the beginning of BP.  I was of the cashflow camp from my first purchase in 2005 until about 2017, when the market appreciation had far eclipsed all the cashflow I had experienced over those years.  Obviously having both is ideal, but appreciation trumps cashflow over time, and it's not even close.  Once I also started following advice from people smarter than me and using 1031 exchanges using built up equity and sprinkling in some cost segregation, it put my portfolio on steroids. Huge rent increases have certainly helped the cashflow as well, but man does appreciation sure make you look smart for moves you made awhile back.

Just wanted to revisit this now to get a glimpse of how the past 5 years or so have treated everyone with cashflow and appreciation.