All Forum Posts by: Daniel Adema

HI @Garrett M.!

Thank you for your feedback.

It's nice to know I'm not the only one in my kind of boat :) I get a little nervous about putting our primary residence at risk with a HELOC, but nothing ventured nothing gained I suppose. I've crunched numbers and I'd only use a Hard money guy as a last resort. Their fees and interest will gobble profit quickly, especially if you run into unforeseen problems on a flip.

I live in the Denver market, and it's crazy here. Average 3/2 is about $350k. I don't have the 20-25% down to buy one, and then wouldn't have the money for maintenance if something went south. My best option at this point is out of area.

I like @Jacqueline Coombs goals as well, but I'm a little more conservative. I'd like 20 houses in 20 years, and I'd like to pay the first off ASAP. Then roll that cash flow into the 2nd to pay it off, etc.

Thanks for the referral to Mark. I will check out his youtube channel.

Hi @Jeremy Brown!

Thank you for your reply. I like the idea of wholesaling, but it seems pretty time consuming. Buy and hold is more what I am looking for I think. I'm wondering if there's a strategy to buy and then resell and carry the note at a higher rate?

Hi @Jacqueline Coombs:

Thank you for your reply. I don't know how to reply to a reply yet, so this is the best way I know how. I love your plan. And the BRRRR is a great strategy I think. I see you are from Grand Rapids, as am I actually. But the Denver market is a bit different. It's crazy here and while deals are not impossible to find, they're definitely a lot harder. Our average 3 bedroom 2 bath house is about $350k, and when one goes on the market it only stays there for about 15 minutes (ok, maybe I'm exaggerating a little, but you get the point.) Thank you for your feedback though and I wish you the best in achieving your goals!

Thanks for the advice. I love the BRRRR strategy. I like the long term plan. THe Denver market is pretty crazy, though. Deals here are not impossible to find, just a little harder since our market is so active. I've thought about buying duplexes and four-plexes to start, but think that my be biting off a little more than I can chew. Thank you for the feedback!

Hello everyone!

This is my first post on this site, so hopefully I posted in the right area. If not, admin please let me know where I should do it.

My wife and I are looking at making our first real estate investment outside of our primary residence. While I am being extremely cautious, I do not want to "analyze until I'm paralyzed" on deals. Here's my situation:

Wife and I are early 40's. We have about 6k in self directed IRAs and about a liquid 20k to invest. Where should we start? Should we focus on rapidly growing our cash, or "seed" as I call it, and try to do wholesale deals and fix-and-flips and grow our seed to a much larger amount before buying rentals, or should we invest all of our "seed" now and buy and hold rental property and focus on cash flow and appreciation on that house? Is there a smarter way to do it that I'm not seeing? Should we focus on notes instead of real estate?

We have a crushing burden of student loans, but I have determined that growing my assets is a much better plan than spending my capital on reducing those loan balances.

I'd love to hear honest experiences, opinions, and feedback and from those that have gone before me. It's taken me a while to realize this, but the decisions I make today directly affect the life the 50, 60, and 70 year old me is is going to live, so I need to make the best and most informed decision for their sake.

Hey Everyone!

I'm Dan from Denver. New to the forum just thought I'd introduce myself. My interest in real estate is inherent. I've been in construction most of my life, got into real estate about 10 years ago. Love helping people buy and sell, have done a few fix and flips, now looking at getting serious about investing. Any constructive advice is you can give me is desirable. Would love to hear about your successes, but more importantly your failures so I can avoid the realty land mines. Thanks!