All Forum Posts by: Wayne Freeman

I was wondering the same question.  I know that the main concern is going to be cashflow,cap rate.  The cash buyer is going to want a discount.  My question is if the 70 percent rule works in your area, should that still be the rule.  If not what kind of discount would a cash buyer want for small multi family houses 1-4.  I live in Rhode Island.  In the Providence county area.  In there seem to be nothing but these units here.  Whats a good cap rate for a cash purchase small mulit family.  Im interested in any responses from the community. 

I know a couple apps that will track your dfd journeys. Gps pal, and Mytracks.  Another thing they could help is instead of bringing a pen and paper. Get a voice recorder.  Makes life easier when your on the road.

Just finished Nasar's book called flipping houses like burgers.  Great read, and no fluff.  He also writes for the biggerpockets blog.  

Watch freedomsoft buyers list hack on youtube.  I haven't done it personally but no someone that has.   Hope this is helpful.  

on the right of the screen you will see manage keyword alert.  You could put major city's next to you, your city or any word that you our interested in.  You will get a email every time this word is mentioned in the fourms........ Or search your city and bp members in your city will pop up.

Thanks everyone. Thanks for all the point of views. My community college does not have any program like the one I'm looking for. I did find one but the hours will interfere with my job. I have decided to try and find some one in the area that is flipping in the area and see if I could work with them. Two birds one stone. I could learn and earn. If that done work out as planned I will than try to find a job in any area in maintenance. I do not wish to be in that field for ever but having the lingo down, and prices will help me not get burned by contractor's in the future.

My goal is to be a real estate buy and hold as well as flip a coupe houses a year.

I make 1200 a month. Should I get a second job and make 2000 a month, and save up for my down payment or should I go to school to be a maintenance technican. Which I will no the basic plumbing, electrical, hvac, drywall, landscape. The school cost 5000. My rent is 300 a month.

I asked a simular question before but I worded it wrong. Just want the community s input.

My goal is to be a real estate buy and hold as well as flip a coupe houses a year.

I make 1200 a month. Should I get a second job and make 2000 a month, and save up for my down payment or should I go to school to be a maintenance technican. Which I will no the basic plumbing, electrical, hvac, drywall, landscape. The school cost 5000. My rent is 300 a month.

I asked a simular question before but I worded it wrong. Just want the community s input.

Thank you. I thought that you should. Learning how to do a spreadsheet today. Saving and learning . Cheers!

the 2% rule says that a 100,000 house... You need to get 2,000 in rent.

What if you get a 100,000 house and you spend 40,000 on rehap. Now do you do the 2% rule on the 140,000. Or you still do it on the purchase price of 100,000