All Forum Posts by: Shane Albert

Hey BP, in a bit of a dilemma and would love some feedback from the community. So far I have one duplex and have a couple other deals in process with intention to BRRRR. I work an office job within a sales department that sells heavy equipment all over the country. It's flexible hours, close to home, and in the market I invest in. A very convenient job for investing. I have recently been given an opportunity to enter a sales training program that would last a year and require travel all over the country. Once that year is up, I would manage a sales territory that is close to home. This would be a tough year to invest and grow into financial independence. I am torn on weather to stay in my role and grow a portfolio as fast as possible or take a good opportunity in a sales role and have a higher income to grow that portfolio.

@Bonnie Rhodes bought my first duplex two years ago at 28. Goal to buy one possibly two by the end of the year.

@Jeremy Davis

What’s the first thing I need to figure out? Zoning and then figure out pricing per Sq ft. in order to run the numbers? Those two things would probably determine the possibility of the project correct?

@Dave Spooner awesome. I’ll check it out thanks! I did a complete gut job remodel and addition on my personal residence so I became good friends with the city zoning and building department. My hope is to learn more and weigh the pros and cons before deciding weather or not to go that route. Thanks for the insight!

Hey BP! I think you’re all going to have some great insight for me on this. I own a duplex right now on a double lot and the current buildings occupies about a little over a quarter of it. I would like to utilize the rest of the current lot and the second lot as much as possible as right now it’s just a mowing and tax expense. I am thinking about building at least a four unit on the double lot and possible another duplex on the lot that has my current duplex. What do I need to be thinking about when it comes to new construction and what is the best route for me to go here. I’ll add that the duplex is my only investment property, I am currently renovating one unit to be done at the end of the month, I have at least two private money investors awaiting me to find a deal. Thanks in advance!

Thanks for all the insight! #sarcasm

Two part questIon. Say you had enough for 10% down on a good deal would It be wise to get private money for the rest (projecting a mortgage of 1500 and PML payment of 500 and cash flow 700/mo) Let’s say you have exhausted all friends, family, colleagues for that other 10%, are there private lending companies out there that would negotiate terms?

Is there any reason not to just write a big check I don’t want to write? I have the funds to get this deal under contract but I also feel that I could do more smaller properties faster with the 52k I would need for the down payment.

@Colby Fryar early on I brought up the idea of owner financing only to find out that the owners have a loan on the property.

@Caleb Culver I am very much considering that as well.