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30 July 2024 | 1 reply
Rentals create cash flow, and that's what we want as real estate investors, but you need cash on hand for unforeseen circumstances.The AC needs to be replaced, that's $7K to $10K or more depending on the size of the house and if you have one rental, it will eat all your cash flow, same to replace a roof, etc, or if tenant trash the home, you need money to fix it again.To me personally a nice rental portfolio that is healthy consists about 10 units, so if you have an issue with a house the portfolio can cover the repairs and still healthy, but when starting you need to have cash on hand just in caseYes, there are multiple strategies you can use to hack your way to buy your first rental with minimum cash, but I would start wholesaling or fix and flip a few deals to create that cash as fast as possible
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30 July 2024 | 6 replies
Hey Konstance welcome to BiggerPockets I'm fairly new as well if you ever are in need of some property maintenance services such as house washing, or driveway cleaning for your future investments I would love to connect with you.
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24 July 2024 | 6 replies
I'm about to embark on my first commercial real estate development project.I plan to buy a ~1acre property in Georgia to construct a 20,000sqft building with the following breakdown:8,000sqft retail space7,000sqft warehouse space5,000sqft office spaceI'll be using some of the office space and warehouse space for myself.
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30 July 2024 | 5 replies
Hi Latif, I will be the first to say that I'm relatively new to this, but have spent the last 6 months deeply educating myself through local RE investing clubs, Fortune Builders, BP and other blogs and podcasts, and many books.Generally speaking, the only house I'd recommend paying down is the one you and your family intend to live in for the next 10-20 years.
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26 July 2024 | 14 replies
I was the first developer to build new on that street.
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30 July 2024 | 12 replies
Hi folks, I am trying to buy a quadplex to house hack for my family.
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30 July 2024 | 0 replies
Purchase price: $260,000 Cash invested: $80,000 Sale price: $380,000 Purchased this house from the family of elderly lady that lived there.
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30 July 2024 | 12 replies
I'm turning the corner on getting my house ready to rent.
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30 July 2024 | 6 replies
It did have a first mortgage of theirs open on it, which they have not made payments on since ~2014, just 6 years after the house was built.