All Forum Posts by: Shane C.

Why can’t you evict them? There is no federal moratorium any longer for non-payment of rent, unless you have one on a state or local level. This could change at any time, so I’d be filing if I were you.

Well, I completed my first BRRRR this year and closing a triplex and a duplex right now. My goal for 2018 was to have 10 doors. As of now, I'm at 8.

2019 Goals

100 Doors (Lofty, I know)

Finish my personal pilot license

Buy my first plane

This is a completely personal decision, in my opinion, and I’d largely echo Andrew. I have a small portfolio of properties and am in no way out of personal debt. But, I have a decent W2 job and my properties cash flow pretty well. Also, I am not risk averse. When you think about rental investments, you have to think about what they represent. How much can you miss out on if you wait years to pay off those loans? I think there’s a huge opportunity cost in waiting, but that’s my personality. I’m sure there are plenty of investors that would have recommended that I not invest in real estate when I did. There are probably many others that would say I waited too long. Long answer made shorter, this is too much of a personal decision to get the “right” answer in a forum. Good luck!

Bill G. Thanks for the advice on not giving too much away. This is always a concern with internet postings.
I've seen such a wide fluctuation in land prices, but I would think that this would be on the lower end of the spectrum. We want the land because of the proximity to our family, most investors wouldn't consider it due to the topography and lack of mature timber. Most of it is landlocked, also so it would cost a fortune to attempt to subdivide, again due to the topography and other variables. There's little road-frontage.
There are about 20 acres of tillable land, 90% is rolling. We want the land for hunting, horse-back riding, recreational shooting. I have some business ideas to offset the payments somewhat on the land. Perhaps they'll do better than I suspect, but I'm not necessarily counting on it.
Craig Rismiller - The property is not with a broker and I don't suspect them going that direction. Unfortunately, we cannot get them to quote a price so no, they're not very motivated to sell. I have been busting it to finish my MBA so that's been costing me over 1000 per month for a year. Because of that and the lack of time to enjoy it, we haven't pushed very hard. I finish school in six weeks so we're ready and we're in it for the long-haul on this one. But, we need to get our ducks in a row as far as the best way to finance it.
Thanks again!

Thank you very much for all the great advice! I hadn't looked into the USDA option yet and I'll definitely have to do so. I agree with all of you that seller financing sounds very attractive.
I do some small-time farming in that I have four horses and raise a garden. With that property, I plan to kick farming up a bit so there would be no pretending :)
My wheels have also been spinning for about a year with business ideas for the land. I won't wear you all out with details, but there are some opportunities to offset a little bit of the costs without creating a new job for myself.
Thanks again for the input!

Hello,

My wife and I are looking at buying a 200 acre piece of property that is near our home. The largest parcel on the property is about 135 acres and it has a SFH on it that needs quite a bit of renovation. There is also a large barn on the parcel that is complete with water and electric. Originally, I was thinking that this would be viewed as vacant land, but with the house on it I would think that we could play our cards differently.

Because we already have a home, what is the best way to obtain conventional financing? Would most banks consider this as a primary home and give the best rates, or would they look at it as a second home and require significantly more down and higher interest? What we're proposing really is no different than what people do all the time when they buy a new home prior to selling their existing, I wouldn't think.

I'm not counting on any seller financing, but I will try to obtain it as the property is free and clear, except about 12K in back real estate taxes.
Anyhow, I would appreciate any input from those of you that may have done something similar.
Thanks!

Also, I forgot to mention that I'm interested in rental property and flipping homes and multi-family properties.

Thanks!

Hello! What an awesome forum this is!
My name is Shane C0nn and I'm from Wheelersburg, Ohio. By profession, I'm a registered nurse working in hospital administration. My background in real estate is limited. About 10 years ago I took a couple classes in college toward licensing, but never completed it. Sales (agent) didn't seem like the route for meI also took a home inspection course from Hondros College in Columbus, Ohio about the same time. Not having much in the terms of investment capital, I started in nursing school with the thoughts that I would someday return to investing in real estate. Nearly three degrees later (finish my MBA next month), I am ready to jump in with both feet. Although I still have limited liquid investment capital, I am in a much better position to get going. I also have extensive construction knowledge and capabilities from working in residential construction during my primary nursing education and from completely renovating and remodeling my home.
I feel like I have a good grasp on the local market and traditional financing, but I overall feel like an amateur on the investment side. I really look forward to networking with the experts that have "been there and done that" and will covet any recommendations and advice from the members of the forum!