All Forum Posts by: Scott Isley

definitely keep us posted Azeez

great insight Michael! I would agree that a deal making sense in the worse case scenario is important to keep in mind....

dang Joel! Great reply! helps those of us greenhorns analyze a deal with seasoned eyes

Thanks @Dan Costantino! So basically i'll be sacrificing cash flow for shorter terms and 0% to little financing vs increased terms, more cashflow and eventually paying more on the property? i'll have to evaluate and see what best fits my strategy for my desired outcome. I agree with you that persistence with integrity does pay off. i liked this quote from Steve Bergstrom's "Mavrick Real Estate Investing"; "Here is something to keep in mind: If you don't succeed on your first try, more often than not you will get a second chance." Looks like that was the case for you Dan Congrats! Best of luck in your investing. Thanks for the advice! ?

Hello Team!

Been reading posts for a couple weeks now, the open flow of communication and genuine help from those more seasoned is wonderful. Thanks Josh what a great resource! (Great podcasts too....????)

So my question is this:

As I read forum posts and my real estate investing book list (looking into the CCIM course as well by the way)

I'm developing my initial strategy to implement this year. What I'm wondering is what recommendations in terms of property type, financing and area would you recommend given a personal investment of $5,000 per property + creative financing. If my goal is to purchase enough multi unit properties to cash flow $6,000 per month within a year. (Again not married to the strategy just yet, but curious to know the experienced investors thoughts on the matter)

As I am in the fitness industry and have been for 10 years. If someone new comes to me and says "I want to lose 100 pounds in 3 months" I would let them know that that is mathematically improbable if not impossible and guide them to a realistic high and low scenario 10-40 pounds...kind of the idea with leveraging the wealth of knowledge here :). Could use a realistic approach.

Im comfortable with put of state, 3rd party management ( Ken McElroy's ABC's of property management is great btw) and am interested in an overall buy and hold strategy.

Thanks for the time fellow BPers!

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Also I live and work in the San Diego area I'm always up for a meet up to discuss RE, feel free to contact me. Also, There was a So Cal BP meet up a couple months ago, I'd be up for another one soon, if anyone else is interested.

Thanks all!!!!

That's great Brian! Good transparent information and great posts to help us better understand how you were successful in this deal. Appreciate the post, wish you many more!

Congrats Ryan! I'll be there along with you by the end of the year

I agree with Jean. One of the major rules of real estate investing is never fall in love with the property. ....but as someone who has yet to cut their teeth on their first deal. My advice is regurgitated from what I've read. (Though it makes sense and I'll be modeling my investment strategy around this principle) That being said, thank you Mark for this post! It's giving us neophytes good experience in analyzing a property by all the pertinent numbers to get a better handle on evaluating investment properties. Curious to know what you decide to do on this one.