All Forum Posts by: Zach Simpson

My good friend has already had a lot of success in real estate and is an ultra high income earner. To keep it short, just from knowing him as a friend and knowing the level of success he has, I already trust him enough to put money into his projects, but I know I should be responsible and do my due dilligence.

Essentially, a big project right now is a cabin in a very busy vacation spot that is going to be about $2m. Its going to be used as an Airbnb and no bank financing will be used. Hes already put $500k of his own cash into it. The plan is to sell it in 4 years once appreciation has occured. He says he expects 10-15% a year cashflow while they own it and once it sells, it should be 35-45% total ROI. I would be an actual owner of the property as well if I invest in it. I make good money, but Im not a pro with REI at all.

All and any advice is welcome. Thank you.

Is there a way to invest successfully without being a pro at finding and analyzing deals? Are there REPUTABLE people out there that I can just say “I want to cash flow 10%” and they can just take my money and make that deal happen? It sounds like that’s something I would want but also want to work with someone with a great track record. Thanks!

@Paul Smythe That's a phenomenal point. I like that. Have you done it, by chance?

If I hire a management company and want to be very hands off, what challenges does having property out of state present that investing locally does not?

I'm 24 now. Before I turn 35, our family's goal is to have $50k a year in cashflow from buy and hold real estate.

I'm not asking for you to make me a step by step plan. I'm more so curious of what your individual strategy would be.

Where would you invest? What would you invest in? How much money are you using to get there? What's your schedule look like?

Thanks so much in advance. I greatly appreciate so many of you sharing your knowledge and experience.

I'm working a 1099 sales job doing door to door pest control to support my small family while trying to finish school. I've had a couple ideas. Usually they revolve around using sales to fund real estate in the future. However, I've also thought about the potential of getting a "regular job" after college, living lean, and using my salary to put towards growing a real estate portfolio.

Anyway, just curious how you personally fund this stuff l, how you got started, what you would have done differently, etc.

Thanks in advance!

I'm turning 24 this year and want to buy our first home, hopefully in 2021 with my wife and daughter. I work in outside sales as a 1099 worker. What kind of income, length of income, money saved, etc, etc, etc do I jneed to make this happen? What are things to consider that you wished you considered prior to buying your first house?

We intend to buy something small, but not tiny. We live in Spring, Texas and real estate is really inexpensive for the most part. Obviously, you can buy expensive, but we'll likely keep it under 200k. I have a really good deal with work, so we dont plan on just leaving all of a sudden, we just would rather not pay rent super long term.

Thank you in advance for any help!

@Shawn Q.

You mean $480? Its $10 a WEEK!

@Joseph Firmin

Ah! House hacking! This is just theoretical, but if that weren't a thing, what would you do?

I've heard different opinions on this. I'm 23 years old with a wife and 10 month old daugher. We just moved to the Houston, Texas area and I've recently just started making good money for the first time in my short adult life. I work in the door to door sales industry selling pest control. I'm in the position that I can start seriously considering real estate options now. Granted, by no means do I want to get over zealous and just jump straight in. Ive really wanted to buy my family a home (real estate is stupid cheap here) but I also would like to hear if anyone would say to keep renting and spend the money on investment real estate instead. We both hate renting for the simple fact that we prefer not to pay money for things we acquire no equity in and aren't fans of living by other people's rules. Nonetheless, we mainly want to just make the correct financial decisions because those will be better in the long run. Thank you in advance for your help.