All Forum Posts by: Tevin Jones

@Paul Timmins

I've been procrastinating when it comes to the REIA clubs, i got to get on that. I'll check those books out too.

As far a student housing, right now I live on Ohio State University's campus and some of the apartments near me rent for anywhere from like $400-7/800 for just one room so I definitely have been looking into that. I do plan on investing in the student housing here because Ohio State has the biggest campus in the country right now.

Hi Jerry, on working on building my credit to qualify for a mortgage. I'll have to look into the real estate license. 

@John Horner thanks for the advice. 

The reason i plan on doing the repairs myself is so I that in the future I can know how long certain things should take, about how much a contractor or tradesmen "should charge me", so that I can feel confident about inspecting people's work when I hire them to work on my properties, and to help me when estimating repair cost on a property before I buy it. Also with my graduation date at least 3 years away i have a lot of time that I feel I waste when i'm not working or in class and fixing a property myself is a good way to occupy that time.

As far as management, I would manage the properties in the beginning so that I know what to look for in a property mgmt company. Also I was taught that you pay someone to do something for 1 of 3 reasons: 1 - you don't know have the knowledge or skill to do something, 2 - you don't want to do something, or 3 - you have a better way to spend your time. For me managing rental properties is not something that I want to do for the long term

I only consider seller financing because as a full time college student, cash is not abundant for me and i need to build my credit (and income) for some years before i could even think about qualifying for a mortgage.

Hi @Barbara Phipps, thanks for checking out my post.

My names is Tevin Jones. Im 21 years of age. I was born and raised in Toledo, Ohio and moved to Columbus, Ohio two years ago. Im working toward getting my Bachelor's degree in Economics with a minor in Finance.

Im a few years from getting my degree so in the meantime i'm just trying to learn as much about real estate as i can. Specifically multi-family buy and hold investments. I'm also trying to build my network.

I joined BiggerPockets recently but I've known about the site for about 5 years dating back to when I was 16. When I was 16 a guy named Floyd McCarver hired me to work for his company Manumit Enterprises. At the time the company was doing foreclosure cleanouts and Floyd took me under his wing and taught me alot about foreclosures (securing properties, doing repairs to HUD specs, meeting deadlines, etc.), dealing with banks, different general tips and tricks to working with real estate, etc.

Ever since i was in elementary I would watch all the house flipping shows and house renovation show.  I would frequently watch the DIY Network and HGTV too. My neighbor growing up Rick, owned a construction company and would let me go to the jobsites with his crew and work/teach me things like putting vinyl side on a house, roofing, pouring a concrete foundation for a driveway or garage. I also helped my dad with different projects that he had around the house.

Fast forward to today, I have been working at Enterprise Rent-A-Car for about two years as a Vehicle Service Agent. I'm in school full time. I just started my first real estate company, Invicta Realty LLC, back in May. My plan for that company right now is to buy rental properties in the Under 30k range using cash if the price is low enough or using seller financing. I'm looking at properties from craigslist, the Columbus landbank, and properties which I would have to contact the owner directly and make a deal happen (like properties that are not for sale but boarded up, abandoned, or just vacant). Then i'll use business credit in the name of my company (which i'm building as we speak) to buy the materials that will be needed to renovate the properties and i'll plan on doing most of the work myself. After that i'll rent the property out and pass the management portion to a property management company so that I could rinse and repeat the process of aquiring the properties and fixing them up so I can grow the rental portfolio. Eventually the plan is to switch from duplexs to 50+ unit apartment complexes.