All Forum Posts by: Kenneth Huddleston

I intend to use wholesaling for short term gains and reinvest those gains to build long term cash flow through the buy and hold strategy. My goal will be to make 15,000 a month with wholesaling, which from what I’ve read shouldn’t be unreasonable after I get the hang of it, and use the money each month to put as a down payment on a small 2 or 3 unit multifamily, or perhaps wait longer to save more and get more units, making a minimum of 200 dollars per unit. I intend to , should all the pre-requisites be met, obtain at least 6 small properties a year, with the number of units and cash flow increasing as the pool of money to invest at my disposal grows. Below is a list of what i hope to accomplish in the first 3 years of investing.

Year 1: 180k of wholesale gains and a cash flow of 2400 per month

year 2: 360k wholesale gains and 5000 cash flow per month

year 3: 600k sales and 8000 cash flow

Keep in mind i know that i'm probably shooting high, but i am also a strong believer in big ambitions. That is one of the reasons i got into real estate.

Hey, guys. I found a duplex in SE portland with a good rental history at 850 per month per unit, with each unit being 2 bed 1 bath. From what i can tell they do not need any major repairs, and after plugging in the numbers the owner would net about 4-500 dollars per month. The asking price is 180,000 but i would offer around 140k, with my MAO being somewhere around 160k. The seller is advertised as motivated although who knows if he actually is. Curious what you guys think.

Hey guys. You may have seen my new member post but if you haven't my name is kenny and i'm 16 years old. I am posting my investing plan below and was wondering what you all think of my goals, how feasible they are, and any improvements that can be made.

"As of 18 or 19 years old, depending, use a combination of the REI investing methods of wholesaling and buy-and-hold to take advantage of the short-term capital gains of wholesaling to convert it into the long-term cash flow of rentals. By utilizing the presumes 15,000 dollars a month I can gain from efficient wholesaling I will then convert that into larger apartment complexes and attempt to gain a 30% capital rate from them if possible. Using this method I hope to achieve financial freedom and retire, if I so desire, in semi-luxury at the age of 28."

I know what's written above is a bit vague so ask me any questions you want and let me know what you think.

if your hoping to make any money selling the property right away i wouldn't offer more than 30-35k. Any more and the profit margin is just to low and if your selling to an investor the chance that you'll get the actual value is rather low unless you find a novice. As a typical rule, investors rarely ever pay more that 80% of the value at max.

I don't personally have any experience in wholesaling but i've read online that pro wholesalers put fellow investors, and other people who might be interested in buying, on their speed dial, metaphorically, so as to sell properties with maximum speed. By doing so, a lot of wholesalers can sell their properties in hours at the best of times.

Thanks and i'm definitely going to check out those accounts. As far as investing goes i probably won't be able to start till at least 18. Even if i could convince my parents to sponsor a property investment i'm not sure if they have the required credit to get a second house.

@Jason Munck Thanks for the tips. I already consistently look at properties on zillow, realtor, and a couple other sites to evaluate them for fun. Also, sorry, not sure what BP stands for. Oh, and you don't have to tell me what you were thinking about when you were 16 because i am 16 and have a pretty good idea anyway.

As for the meetings, i'll look into it. So far i know one person. He's one of my old teacher's and he owns a single family home which he intends to use to aid in his retirement. Although he's not a full blown investor i tend to go to him with questions and will likely continue to do so.

I'll do some more research on the NWREIA but typically you have to have at least 1 rental property to get into those places. Do they have some special ruling?

Your right. It is a learning process, but in my opinion, its a thousand times more interesting then school.

Hey, My name is Kenny and i'm 16 years old, i know...REALLY young, but i am very interested in real estate investing, multifamily housing mostly. I have read around 25 books on the subject as well as personal finance and am looking forward to starting in a few years. I also hear that Portland, OR isn't a bad place to start. If you guys have any tips for a rookie, not even that yet, let me know.