All Forum Posts by: Robert Swingle

Ok so I'm not necessarily new, but this is a new beginning for me. I have 2 children and am going through a divorce. My wife is active duty and stationed in albuquerque so I moved down here to be close to my kids. I'm working on paying a few things off to cut down on the monthly drain and saving some cash for a down payment. I'm hoping within 6 months to lower my bills and have enough for 3.5+ down for fha. I'm looking twords multifamily housing because I have a construction background and maintenance experience even though that's not my current career. I'm looking to network more and learn as much as I can. I have sat around idle for far to many years it's time to take the leap. Also I've began listening to every pod cast. As of this post I'm around 30. I listen to about 8 of them a night while I'm working. Good stuff in there. @ brandon turner

Thank you that link worked perfectly

Hello I went to account settings and updated info but can't figure out where to change my profile picture. If I click it, it just takes me to my dashboard.

Maybe due to my inexperience i am posting this type of reply but here it is. I would manage this property myself as its so close to your home and as you say its pristine so you wont need to rely to much on your maintenance knowledge to worry about fixing things. just plunge a few toilets and lockouts every once in awhile if its in that good of condition and just collect rent and what not yourself and save 14k a year. even if you dont go that route its only in the negative by a very small amount and i would count in the equity i would gain on the property. Maybe my views are limited due to lack of knowledge but i assume you make pretty decent income if the bank is willing to loan you nearly 1million dollars for a property with negative or low cash flow and you can probably afford the minimal loss. I dont know just my views, feel free to criticize me for them :)

thanks@ jermey jones. Its great to hear encouraging words!

@james wise .

Not sure why my tagging isnt working from my phone. Some of the basic details of this deal. Not really sure how to determine if property is good deal or not yet, still working on that ppart, but basic math makes sense. Ok here we go

Duplex, 3bdr 1bath, 2bdr 1bath. Both vacant. Original price was 55k price dropped 10k in first 30 days on mls. Prob can seal the deal for 40k. Its 1 minute from my residence and only local investor would buy because its in small town and no mgmt companys within 1 hr drive. Avg rents for those size apts are 500-600 each and i can get them fixed up for 5k each. So total finance 50k. Plus free garage in the back i coud rent for storage space 50-70 a month. Avg sfh 100-120k and other propertys like this between 80-120k.

Was hoping to hard money or private finance until i can save the 25% for conventional loan. 

Possible rent 1000-1200 month and with hard money would cost around 600-700 month after conventional loan would be 400-450 month 15 year mortgage or 330-380 30 year.

Maybe my math is off or not analyzing correctly but even if it is i have 2000-2200 month disposable income to cover it and would just make it primary residence. 

This property is still just an idea because it would be my first investment and there are a million things left to learn

Ps. My wife used to work as a property manager and i was maintenance so it would be self managed

i was so excited about this that i decided to fight with my phone to get to the forum section to post this. 

I'm new to everything dealing with real estate and i've been reading a lot, but felt as if i wasn't understanding even the basics. 

Then i was laying in a hotel room bed this morning and BOOM! It hit me like a wave. All of the info ive been reading now is beginning to set in and tie together.

The deal i have been scoping out that felt unattainable due to lack of cash reserves, now seems easily attainable.

I now believe those articles that i have read from @Brandon Turner . That talk about purchasing with little to none of your own cash. 

Just wanted to share , thank you all for sharing your knowledge with me.

@andy 

@Andy M.undefined hey Andy I found this post through an email from bigger pockets and your link lead me to your YouTube page. I love your series from the trenches. I'm a newbie investor and your videos are great info and they aren't long and drawn out like most REI videos. Keeps it simple and to the point I love it. I'm surprised you don't have more views on your videos . Well thanks again for the info here and on YouTube!

install a corner tub if space permits, remove the whole window and frame in the shower side and install a smaller window on the bath side and extend the shower section over to the new window. edited the picture isn't the best im not an artist or photo editor, but here it is..

ozone machine, fresh paint and these.. http://www.amazon.com/Big-Fire-After-Aerosol-Fogge...

Put a few of these in your house and it will kill most of the odors, if it is pet odor in the carpet the only real way to kill that is new carpet and padding and sometimes if it is bad enough have to seal the floor under the carpet