All Forum Posts by: Aaron Thivierge

others have eluded, ill just say it. To be involved w real estate, you need reliable transportation. To steal a quote from a recent podcast involving this very subject," it's like a plumber not owning a pipe wrench".

I would recommend putting your real estate goals in front of the line for priorities- work backwards. You know you'll need a car for this career. So what do you NEED to do now to accomplish that goal. You need a reliable car to succeed in this industry.  Be creative. Get a car.

@Chas Fabiano In re-reading my post, that last paragraph sounded snarky... That was not my intent.  

@Chas Fabiano I don't understand your chasing rainbows analogue. Are you suggesting that I am too conservative w my deal analysts? Can you elaborate?

I'm ready- show me a 3/2 w a garage in a 9 or 10 rated elementary school region for $100k price range w positive cash flow in jacksonville, Fl , and I'll buy it today. 

I commend her for finding you and having the courage to communicate. I am new, so I'll answer your question: analysis paralysis has a grip on me. I find "deals", run the numbers through BP calculators. They are not excellent candidates to start my REI portfolio. I am waiting for a mathematically correct home. I am a numbers guy and a conservative risk taker. So, the numbers must support the purchase.

The 1st thing that comes to mind when I saw those pictures is"pressure wash the outside". On a different note, the F150 I had before my current one I purchased in Gainesville, Ga.  I've caught many striped bass out of Lake Lanier.  Congratulations on owning investment property!  I enjoy that area of Georgia

three things that you (and everyone else here) needs to know in order to advise you in this deal:

1.) ARV (based on comps of equivalent homes within 0.25 miles, back 6 months).

2.) Repair costs to get to ARV (qualified contractors estimates of repairs.... Or better yet three different contractors estimates).

3.) does she really owe $72k. I would not trust the seller, but rather verify this information before taking any more action.

Let us know what you find. I hope you hit a double on this one!

When you say you are leaving a "high dollar job", what are you talking about? $50,000/yr, $100,000/ yr….$250,000…..$400,000 / year? I would not evaluate this decision subjectively. I would use OBJECTIVE statistics to evaluate the reality of you making as much/ if not more in the REI career immediately. Do you have a wife's income? Do you have children? I just would be VERY hesitant to leave a current cash flowing career for REI unless you already have the REI infrastructure in place to cash flow almost immediately.

I would pass this deal in a heartbeat. There is no cash-flow. Futhermore, "search" 2% rule in the top right corner of this page.  It's a guideline…but, at $285,000 purchase price..you're at 0.7%.   Finally, it's been said, "I'd rather have 0 good deals than 100 bad deals"…keep looking. Don't be discouraged. Look at the bright side: at least your not stuck w/ this money loosing property...

@Michael Noto I agree with you: I am concentrating on better areas as I don't want continual maintenance costs associated w/ this type of tenant as well as chasing rent every 30 days. I am meeting w/ an investor tomorrow and looking at a triplex in a desirable area of town.  Thanks for your input, sir!

@Addison Perez , @Maxwell Lee 

 Thank you gentleman for your replys.  The area is Paxon (n. pearl and W. 44th street).