I work a full time job at a wood shop building custom cabinetry.

Hi All,My Team has added Little Rock as our third MSA. We are actively submitting LOI’s and interviewing PM’s, inspectors, and insurance agents. Would appreciate referrals as well as any general insights about the mar...

Quote from @Dan Grove: Hi friends,I'm starting to build a portfolio of long term rentals using creative finance. 

If your side could rent for $1,400 then that's what you should pay so you have money to set aside and build a reserve.

I thought I could solve the vagrant problem by buying and repairing the buildings.

For this reason, I would take inventory of the local banks within your target markets that offer financing options that best serve your real estate needs (again, usually the smaller local banks), and build depository relationships with them.

The house looked like it hadn’t been loved since 2004 (its build year).

These companies will end up holding on to buildings for longer than they planned, keeping inventory low. 

The end goal is to have a piece of land with multiple houses: one for my growing family but also a home for my mother in law.My mother in law has agreed to foot the money on a new property/land up front and when ready we can buy land from her to build/develop etc. 

Always excited to connect with others building something from the ground up!