All Forum Posts by: Ugochukwu Opara

@Johnny Flewellen Hey buddy, thanks for the feedback. Glad you took the time to respond.

I'm interested in your comment. It's the exact opposite of what everyone else is advising. You're saying that to hit my "$5k net monthly" goal, I should invest more into my real estate agent business and stay away from mortgages?

Instead, you recommend I focus on affiliate programs and Deed Sales in Delaware County? I'd love to hear a more in dept analysis of what you are proposing. Please tell me more. Thanks

@Joel Owens Honestly, you've open my mind to the commercial world. I've always thought it was relatively the same income but just from a different avenue.

But 200K vs 50K is insane! I'm completely open to learning as much as I can.

You mentioned that in commercial people specialize and you went for apartment buildings, triple net leasing, and transactions only.

How did you narrow it all down?

You also mentioned land development, retail, multifamily, office, industrial etc.

How you navigate through everything and pick your niche?

@Darrin Carey Thanks for the feedback. Yeah I'm in love with the 4 unit idea and want that to be my first rental. I agree with you completely.

what made you venture in the commercial world, higher returns?

Thank you soo much @Levi Forrest Your words have been motivational.

Its good to know what what I want to do can be done and has been done. Cheers!

@Patrick L. Oh my word! You're a monster!! 0 - 43 in 5 years!! Amazing!

I want 25% of that and in twice as much time. But I agree with your wise words and thats what the advise I'm getting is leaning towards:

1) Save as much as you can

2) roll with one rental at a time

3) continue saving and reinvest profits

4) rinse and repeat until you net 5K monthly

What did you use to do in your other business if you don't mind me asking.

Any other advice? entity formation for 43 properties?

@Jon Klaus Well ... maybe 10k in expenses and 40k saved annually. I gave myself too much credit lol

Thanks for the game plan. I can stick to that.

@Levi Forrest Yeah I read botu entity formation and rushed out and formed an llc. based on your feedback I should have consulted a lawyer first prior to doing so.

What are your thoughts and how did you find your law firm?

@Paul Timmins Wow! That would be more than enough. I'll look into that immediately.

I have an llc but its not even a month old. Feeling a little nervous walking in with a baby llc and asking for 75K with nothing to back it but my salary. What are your thoughts?

@Jeff S. Hey buddy,

wise words. I haven't been able to borrow because they say I haven't been working full time for 2 years or self employed for 2 years. There are opportunities in my area that I have come across. My dilemma is where do I get the fund to buy said 30K property from?

How would you go about it if you were in my shoes? 50k salary. 718 credit score. Currently $500 monthly in expenses.

@Patrick L. He y Buddy,

Yeah looking like I need a cash reserve in order to buy and hold. This has been my problem. Currently I live pretty frugally. I recently just downsides to a small used car and got rid of my car note. Moved into families spare bedroom to drastically offset living expenses. However, I am still no where near being able to put 60K annually aside. At best I could swing 25-30K.

What would you do in my shoes?