All Forum Posts by: Colin Reid

The negative cashflow is a beginner's mistake, and a pretty cheap one. That will be corrected in short order.

The commercial financing is the kind of answer I was expecting. I figured the easy money would dry up at some point.

Thanks for the information!

I'm new to this, but I'm seeing the pot of gold in real estate.

I only have one rental, my former residence (I'm active military) which currently isn't cash flowing (losing $15/month). I'm in the process of fixing that with a re-fi and will definitely fix it when I renew the rental contract. It's being managed for the standard 10%.

I am now in a different state, bought a house to live in, and looking to buy more properties. Using my current rental property as a model, I want to put up the capital, hand it over to a property manager, and collect. It's super easy with my current property. I haven't lifted a finger regarding that property since I moved out of it.

The question is, how scaleable is that? How many properties can I expect to be able to own and have a third party manage? Right now, it seems like a win-win. I do virtually no work and someone else pays my mortgage every month. Is it really that easy?

I'm 28 now. Is a goal of being essentially retired by 40 crazy, assuming I just own the properties and I pay 10% to have someone else manage them all?

Thanks, Edgar. Added as a colleague.

Hi,

I'm new to the board, looking to invest in property.

A little about me:

I'm an Active Duty Air Force Officer, so my day job is primary right now.

I have one property at my last base in Texas that is rented right now, but with negative cashflow (only losing $15/month). I'll be increasing the rent when the contract renews, as well as refinancing.

I bought another house in Eastern NM, which I currently live in.

I am looking to purchase additional properties in my area.

Full Disclosure: My mother is a realtor with Keller Williams in Maryland, and I am using her for referrals and advice. I am also reading [i]Hold[/i] and [i]Millionaire Real Estate Investor[/i] by Gary Keller.

My long-term goal is to not have to have a day job. Short term I want a total (including the current two) of 6 properties, 5 generating cash flow, by first quarter of 2018.

I kind of fell into the first investment by just renting my house instead of selling it when I got orders. I want to learn how to make a living on other peoples' rent.