New to Real Estate · Matsuyama, Japan · Member since 2020 · 24 posts · 17 votes
5y
My goal is to keep saving money, so that by the end of the year I can either purchase my first rental property or be in a position to purchase my first rental property.
Gilmer, TX · Member since 2020 · 10 posts · 6 votes
5y
My primary goal for 2021 is purchasing my first rental property. I've researched, studied, sought advice, networked as much as I can the past 6 months. I'm ready to gain some hands on experience.
Philadelphia, PA · Member since 2021 · 4 posts · 0 votes
5y
@Cassidy Burns
Hoping to wholesale 15 houses and make at least 80,000. My big goal is to make a real estate business that makes 1 million net profit per year in 4 years.
Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
5y
@Cassidy Burns, what I like best about these kinds of posts is people letting themself dream and verbalize how they are going to pursue their dream. I wonder how many of the folks posting had this be their first time they have written their goal down? Thank you for posting this thread. I posted on your first page, but was unable to reply to your questions due to the mass of folks posting here.
While I cannot recall your questions exactly, I already have a line of credit, I expanded it from one house to cover 2 houses so my credit line doubled. I don't need to Have $125K in funds to buy new properties, because I use the line of credit to buy, then rehab, then after 6 months seasoning I simply refinance usually for the full amount of purchase and rehab, or at least nearly all of it. I just got this great thing going and added 4 or 5 properties over the last few years and now we get out first Sellers market and everyone from out of state are buying up houses and driving up prices. Rents are moving up, but it is hurting locals as out of state renters are coming into town and paying more. I have jumped rents on turnover properties for the first time since 2014. I also bought and am fixing up 2 mobile homes since my housing market is out of kilter. I am trying one other novel idea and will be doing an offer on a junky, small downtown commercial building to turn into a vacation rental. Lets see if being 30 seconds from the bars and restaurants will offset being in a nice house in a quiet neighborhood.