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30 May 2024 | 11 replies
In general, it is preferable to reduce or eliminate debt that is not producing cashflow before investing so your personal balance sheet shows more assets than liabilities.It sounds like you are in a great position being a year away from paying off your vehicle and student loans.
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30 May 2024 | 17 replies
However particularly for high revenue or six figure producing properties, operators can theoretically employ a full time and designated manger for a lower total cost.
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29 May 2024 | 10 replies
In that way, it's much more cost-effective and produces strong results.
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29 May 2024 | 5 replies
To start, I'd do a Discounted cash flow analysis and cap it like a regular income producing rental....do you know the rent the tenants were paying in the two sales you showed?
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29 May 2024 | 8 replies
You have to buy a property that will produce enough income to mitigae those items.
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29 May 2024 | 9 replies
Others will reject the idea because you can't produce an income for their office and will likely be a taker, not a maker.My suggestion is to get a job with an established property management company.
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29 May 2024 | 3 replies
I even turned off the hot water tank to save money (until my then-girlfriend, now wife, convinced me to turn it back on)—all to use these savings as my launching pad of capital to get into buying income-producing real estate and starting a business.Fast forward to today, the foundational skills and inspiring stories I absorbed from the BP podcast have given me the confidence to take action and believe in myself, significantly advancing my investment career.
28 May 2024 | 6 replies
She has yet to produce any documentation on that after I asked for it multiple times.
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30 May 2024 | 27 replies
But as others @Becca F. pointed out California RE produced more millionaires than anywhere else historically.
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29 May 2024 | 7 replies
FOLLOW THE K.I.S.S method plan (keep it simple and stupid).Find and hire a real estate agent that understands multiple investment strategiesGet pre-approved - see what options you havebased on your pre approved price - identify an area you want to invest in that you can affordLeverage the agent to : bring you properties, assist in pulling comparables (you should know your comparables of the area you are looking in, this is for a second opinion) review and confirm your estimated rental income, assist you with acquiring the property, and have a list of resources you could use; contractors etc.Looks at properties and make offers that work for YOU.Also,Do not pull your IRA money out, leave it there and let it grow - leverage this to meet your lenders reserve requirements.Buy Multi family to holdBuy single family to fix and flip and produce more income to buy more multi families.