All Forum Posts by: Scott Johnson

@Scott Johnson. If you are not a fan of appreciation then where are you getting your wealth building from REI? Unless you are paying cash to buy properties aren't typical duplex/quadplexes with mortgage give out few hundred (not few thousands) bucks per door? Am I missing something?

 A great section to read is on Section 1250 Property, reminding us that land can NEVER be depreciated! 

Hi BP members,

I am looking to invest in a SFH that cost about $400,000. With 20% down the property will negative cash flow $500/mo. It breaks even @40% down. One lender advised me it's better to negative cash flow if I can afford it and still do 20% instead of 40%.

Reason : the additional 20% or $80,000 is better spent towards down for another property (provided of course I can afford twice the negative cash flow) because the annual appreciation @ 5% (which is likely in Florida) will be greater than the negative cash flow per year.  That is $6000 negative cash flow for $20,000 appreciation in return.  That is still a 17.5% return(capex not included).  I don't discount the possibility that the lender gets to finance 2 properties instead of just one but the proposition does make sense on paper and in theory. Does anyone refute this or agree with it?  Am I missing anything?  Thanks in advance.

I have been binge listening and watching everything bigger pockets for the last three months and have decided 2024 was the year I'd make the plunge into real estate.  I've started networking with people I honestly believe will be a great help to me in my endeavors. 

So to the uniqueness, my father in-law is blind his brother is also blind and they're both seniors.  On January 25, 2024 my "uncle in-law" had a house fire and almost died, thank goodness for his house mate.  Now he's living across the street with my father in-law which causes turmoil.  I've been learning about government subsidies for disabled people and seniors.  I'm wondering if I purchase the uncle's single wide trailer, rehab it, move him back in, if there is some sort of government assistance I could receive.  The "owner" of the trailer was receiving something from Mideast Regional Acceptance (MRA) prior to the fire.  MRA is like Section 8 for rural homes in my area.  The value of the trailer is so low and the title is lost that no one wants to deal with it, everyone is worried how much it will take to demolish and remove.

My background plays a role in my situation, I've been in construction for twenty years and know I can fix this house for little cost (5-7K).  If this is something that does work I'd like to do something similar for my father in-law.  He owns his property out right but it is in need of repair.  I'd like to rehab his and keep him as a tenant.

I purchased PRO as a commitment to my future in real estate.  I'm not looking to get rich but would like to profit from helping others as it's something I cannot help myself from doing.

Hope all are well! Trying to get started in the fix & flip space, anybody shopping deals around let me know! Financing is fully locked in and I am ready to roll. 

I am a newbie RE investor (currently getting approved for a HELOC to fund my first purchase). I read several post that some people recommend having a CPA before out while other say you can wait until you have a few properties under your belt? Any personal thoughts on this? No idea what to do? I'm struggling to find a RE CPA to work with me since I currently have no investment properties.