All Forum Posts by: Tim Mallick

Thanks Jeff, Totally agree. i picked out 3 books from here that I felt fit my plan, and those i will read and take notes from, and go from there. 

My total end goal is up in the air, but i would love to be able to match my month net from work "just in case", of course more would be amazing

but realistically if i could end up with a couple grand, net, and continue to pay them off at the same time that would be great

thanks

Hey Everyone. I have bought 3 books from this site, on rentals, managing them, and the one on no or low money down. I am more interested in long term holds and rental income at this point vs flipping etc. I also work full time in a job i like and won't be leaving so i am looking at this as a part time gig. With that being said, my goals i think are also a lot smaller than most here. I would like to run this by you all and get your thoughts.

My first goal is literally thinking one smaller 1 family house, 3br 2br. most homes that rent for 1500 around here are that size, and may cost 180-200? but thats almost turnkey. there are others for alot less that need work

my passive income goal is to make maybe 2-400 extra a month which i would just save for needed work? and then roll to a second house and third etc. at 48 i have 20 years or so left to work, but would like to help an earlier retirement if possible. 

if my main goal now is just to finally do this ( i need to read all these books and put a plan together and find a rental agent who understands this goal) and those are my financial return goals, is this doable? i would like to partner with someone and am hoping to meet someone local to work with but if i dont i am ok doing it with an agent and on my own.

anyway, just getting thoughts from you all on the single family home, small end, smaller return type situation to get going? and once i read how to possibly do this with little down, then down the road i can do them more traditionally?

thanks all

Thank You Mark

looking forward to learning and helping here. I am already deep into the blogs, and beginner training. While I have the initial fear I am reading about, I am also commited to learning and making this happen. I have no interest in get rich quick, but rather, want to build excellent relationships and be a trustworthy person. By doing that I hope to be able to learn and eventually add to my monthly income amount. once the initial steps are done and underway, then we will take another look around and see where to go.

thanks

tim

Thank you both very much

Interesting on that Anthony, I see what your saying, so much to learn. Thanks both of you

Hi Everyone

First post here. I am completely new to Real Estate but have wanted to begin this journey for a long time. My main goal at this point is to purchase rental properties to provide passive income into retirement and for my family. I am newly separated and finances are tight right now. what I am hoping to learn and find though is ways to finance a house or 2 or a multi family unit so i can just get started. I have an excellent day job that will afford me time to research and find properties (online) but i do not have any money for a down payment right now and am trying to dig out of CC debt right now that was necessary for me to buy my own new house and move.

I gave my other house to my wife, we are amicable. I paid the mortgage off years ago but do have an equity loan and line of credit on it in my name.

I am looking to find a good group to work with and partner with as i begin, and my goal is in 3-5 years to be able to match my monthly net income, although i have no idea how it will all work so thats very tentative.

I do know in the end i would like to have a net income that will allow me to leave my day job or be able to supplant it if for some reason it were lost. i am really driven to succeed at this. I love homes and seeing things renovated and fixed up. I have friends who do this and I am aware of some of the issues, tenants, laws etc. But I feel this is a place I want to be. I just worry in my financial situation I wont be going for a long time and would like to know more about that aspect.

Anyway, thank you all! great site so far!