All Forum Posts by: Ryan Cash

@Jackson Casteel

Hi Jackson, IMHO I would say you are going about it the right way. I can't speak of whether saving the FHA for later is good bad or indifferent but I am doing the same thing right now. Conventional loan on a foreclosure, we are going to live (rennovate) for a couple years and then rent it out when we decide to move on to another home. While doing this, I will also purchase (hopefully this year) a duplex and get the portfolio started that way. The way I see it, it is a start and that is half the battle. You could get your house, live in it, fix up, pay down a little of the principle, earn some equity and refinance to free up capital for future investments/rent it out in a year and have a nice start to your endeavor. Just my two cents.

@Shane Forrest

I bought a property years ago without an agent. FSBO paperwork is pretty straight forward. If you are wanting someone to look over legalities, I would recommend consulting with an attorney. If it is something where you are wanting someone to look over the real estate paper work, and it is a good deal, work out a deal with your agent (or another agent) to pay a small fee for their time to look over documents. If the seller doesn't want an agent involved (to save on commission) I would try and stay away from having the seller pay any sort of commission in case that is a deal breaker for them.

Great! Looking forward to learning as I go and improve on deal analysis! Thanks for the reply.

Good afternoon BiggerPockets!  My name is Ryan Cash and I am a 35 year old new investor from Salem, OR.  I am a high school teacher as well as a business owner.  I have been eager to get into real estate investing for many years but now is the time!  I have one young daughter and another on the way so my goals revolve around their future.  My wife and I are getting ready to close on our first foreclosure  through Homepath (that's been fun) but we are doing it and are going to live in it and eventually rent it.  

My goal is to buy 1 multi-family property this year here in Salem, OR and start our portfolio small. I have a goal of of owning 5 multi-family properties by the time I am 40 as well as renovate 1 house a year. Ultimately, my wife and I want the ability to retire young but more importantly, put a business in place that our daughters could take over way down the road. I have attended a Northwest REIA meeting and am looking forward to more of those to learn and meet people. I have listened to the BP Podcast for a couple months now as well as others and have read their guide to real estate for beginners and a host of other books.

I am an avid outdoorsman (hunitng/fishing), traveler (24 countries), and coach high school football. I am eager to continue to read here on bigger pockets in an effort to achieve my goals.  Specifically I am immersing myself wither literature pertaining to buy and hold and am striving to avoid analysis paralysis by offering soon on a property I have had my eye on and jumping in to the the business of having tenants.   

Thanks,

Ryan