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18 November 2024 | 12 replies
Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.
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15 November 2024 | 32 replies
Quote from @Eric Prescott: Yes, I understand that appreciation often means less cash flow and good cash flow typically means weaker appreciation, but there is a sweet spot where there is decent appreciation and sufficient cash flow to cover expenses so that the property pays for itself, and that is what I'm honing in on.
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20 November 2024 | 37 replies
So if you ave sufficient income to hold the properties and goal is long term wealth building, you are likely to be good.
15 November 2024 | 14 replies
I will be making $55-$60/h by the time I’m certified at 21/22.I am also looking into side hustles to increase my income such as flipping cars, reselling etc.As of right now I have around 8k saved, and 5k invested in stocks.Obviously I cannot buy a property with just a few grand right now, but basically I just want to ask for any advice or tips you would give to me or your younger self when you started.I usually listen to audio books on personal finance and business while working instead of music to further my knowledge.Any sort of advice is welcome, books, podcasts, methods to learn about.
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12 November 2024 | 17 replies
2) Do you plan on self managing or getting a property manager?
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16 November 2024 | 12 replies
Here are some numbers: Current PITI: $3,970Estimated rent: $4500-$5000 (there are several homes within 4 blocks of mine that owners have turned into rentals and I've been able to compare online pics to our home, so I am confident this is a good estimate)Sq ft: 1790Estimated sale price today: 1150000-1250000Mortgage balance: 612,000I would self manage.
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14 November 2024 | 8 replies
We partner with Tenant Turner and allow self showings without the hassle of trying to schedule with an agent.
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10 November 2024 | 2 replies
Directly investing in real property investments, whether property, notes, tax liens, or leases requires a THOROUGH understanding of all LEGAL aspects concerning real estate law in general and the investment in particular.It’s IMPOSSIBLE for someone who hasn’t accumulated either a legal education in real estate law or 20 years active experience to have the knowledge and understanding of legal aspects sufficient to reduce legal risk to an acceptable level when investing directly in tax liens, notes or real property.
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13 November 2024 | 15 replies
As a self-employed 1099 individual, your best route is most likely DSCR.
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14 November 2024 | 8 replies
As a young self-managing landlord, I feel like it makes collecting rent look and feel more "official" so I am taken seriously... and my tenant set up autopay (score!)