All Forum Posts by: Roy Moses

Wow!

These are the stories that get me really pumped, congrats on your success!

Great story, thanks for the explanations on all the steps you took, networking is really the best way.

Congrats!

You mention you would like to own rental properties, I would suggest to start with that, you can use the 30K as down payment on a property, self manage that property so you can learn more about that process.

If the area you live in is too expensive for you to buy, look at other areas close by, even if it's an 1-2 hour drive, remember you don't have to drive there a lot, outsource maintenance and collect rent electronically, it's doable and can teach you a lot while learning on the job.

The best way to start is to look at the options, think what would be a good fit for you and learn everything you can about that.

For example, are you a buy&hold type? a flipper? wholeseller? choose something to focus on and learn everything you can about that one thing, become the expert of that and get to work.

This Richblockspoorblocks looks good interesting info, thanks for mentioning.

Venmo is great for rent collection.

Time = Money.

Try to get the contractors to finish asap, try to schedule them quicker and get them to finish quicker, the longer you hold on to the property the more you pay for it.

I would wait for other applicants, if it takes so long to find tenants at the price range you might also consider lowering the rent, look at the rents in your area again and see if you are just asking too much.

Nice deal keep up the good work!

@Jarett Tigges Welcome to the forums pal!

Like mentioned before whole-sellers are a good place to start from looking for deals in my opinion.

Any chance I can be a bit rude and ask you for that spreadsheet you made? I'm a numbers guy as well and would love to see what you've done, also if there is any changes I believe needs to be done to that I can let you know to improve it.

Hello,

When starting to invest in buy and hold by myself (no partner), and getting finance for that from a bank, the same issue rises whenever speaking with a lender - you can't take a mortgage on an LLC only in your name, but, if I take it in my name I don't want my other personal assets to be at risk, and want to limit my liability for that property.

So... just wanted to get a few answers from people around the forum, what do you guys do? how do you do it?

Thanks for any answers!