Hello from Greencastle Indiana
Hello everyone. I am barely a year into this real estate business and am hoping to learn more from everyone. I have already ready a number of books and watched several videos and listened to podcasts. I bought one SFR and plan to expand. I have a timeline of about 10 years, because of my age. Any advice is certainly welcome
The best advice that I can offer is more debt and more cash is a less risky position than less debt and less cash. If you have the ability to put less money down on a property, take more debt, and hold higher cash reserves you will be better off. When you have to evict a tenant or have a major expense, you won't be wishing your mortgage was $70 lower, you will be wishing you had the 10k in cash. Cash reserves is what allows us to weather storms.
I think Greencastle is a great location! A lot is happening the the downtown square. I sold one flip there for a friend. Have you thought about college housing or just doing long term rentals? I also had an initial 10 year goal and I am halfway there in a little over 2 years. But, still my Best advice -- it is a marathon not a sprint. Would be glad to have a conversation if you are interested.
I have lived in Greencastle for awhile now and just learning about the real estate scene here. I would love to connect