All Forum Posts by: Ryan Ingram

@ John K. I’m currently at 10-12%. That’s about half the return I’m getting with the duplex; but, after I signed the paperwork, my duties were complete 😇

Eric, way to be proactive! Those are great steps you’ve taken. I agree that networking and setting goals are invaluable. I’d add reading some solid finance books to the list. I think taking the steps to become wealthy in RE is a solid move; but preparing your mindset to be wealthy is also very important. That way, whenever you have a lot of g’s weighing down your bank account, you know how to use it effectively to create your legacy. Napoleon Hill’s Think and Grow Rich is a classic. Thomas Stanley’s Millionaire next door series are a solid read as well.

I’m new to real estate investing, however, I’ve been wondering the same. So far, I’ve purchased one duplex, invested in Fundrise, lent “hard money,” and also invested with a larger local real estate investor. 

While I have a property manager, I've found myself spending more time than I would like worrying, communicating, and speaking with tenants. I'm putting aside CapEx, but at the same time during the first few months, I still fear as if I'll be coming out of pocket for a repair while that fund builds. To clarify, I say fear loosely, it'll be ok and not the end of the world. Just trying to be transparent and think deeply in attempt to be helpful.

The other three are completely laissezfaire. The hard money lending and the money I’ve invested with a local real estate investor are backed by mortgages, one class B and the other class A. It’s “mailbox money” as Chris called it. :) I get the interest payments monthly without the lingering thought of someone else (plumber, electrician, etc.) swooping in to take it. 

All this has happened over the past few months, so it’s just my observations from my very limited experience. Hope it helps!

I'm a fan of Brian Murray's book as well. I'd also recommend: How to Make Big Money in Small Apartments by Lance Edwards.

Greg, You've done a great job with the numbers. Well done. I appreciate your conservatism on the CapEx and snow/trash/sewer. I'm a fan of always airing on the side of caution, even if you don't foresee all of the allotted expense being used. That said, with a net loss of $160 per month, and CapEx/snow/trash/sewer being $440, perhaps that will even out. While this isn't ideal, it is also temporary. What's your gut telling you? Would you regret not pursuing this, or would you feel more confident in your next opportunity/analysis? As thorough as you've been, I'd go with your gut; especially since it seems you know you'll make it work regardless of which direction you choose.

Hey Kurt! I'm also new to BP, and just getting started in the Dayton, OH area. Just completed my first duplex deal. I'm not a wealth of knowledge (yet) but I'm more than happy to help in anyway I can.

Just did a duplex deal with Michael Hutchinson, with Home Experts Realty. He has my recommendation, and I won't be using any other realtor in the area. http://mhutchison.homeexpertsrealty.net/index.php

Yes, I'm actually in the process of this. We are relocating from NC to OH. We are using the equity from our home to purchase (in cash) a rental here in OH. We close on Tuesday. It's a duplex that is fully occupied and rents for $890 per month. We are only half way through the process, with a lot of years ahead of us; however, I'm confident in the choice.