All Forum Posts by: Adam Johnson

To be a little more detailed on my situation, I've been reading and following bigger pockets emails and podcasts for about a year now. I'm not saying I know all about investing, I'm still nervous to start. But it just makes more sense to me to be putting my paycheck a towards a mortgage with possible rent income rather than paying $700 for a one bedroom apartment. That's where the "I want a multifamily in a year" mentality comes from. But being that my ultimate goal, among other things, is to be able to live off buy and holds, this CL ad caught my eye. 

Hello everyone. I'm seeking advice on if this would be a logical way for me to start investing. I graduated college last May, started a job in January, and am hoping to buy my first multifamily in the next year. 

While looking on Craigslist for properties about a month ago I came across a post from an individual claiming to be a real estate investor looking to downsize his portfolio and maybe willing to work with someone to help get them started. "Seller willing to spend time teaching willing 1st time investor how to own, manage and prosper with multi family properties. Seller has 10-15 four families available. Seller willing to hold 2nd mortgage to help the right buyer get started." 

Obviously, to a beginner investor this sounds to good to be true. And it made me more skeptical when I looked on Craigslist today and saw the ad was still there. However, I read stories on how older investors act as mentors to newbies and give them incredible deals on properties. 

If I were to take a risk and contact this individual, I would do so without any capital as I have moved for this new job and have been unable to save much in 5 months. 

Any thoughts?

I'm attending a local REIA meeting in a few days. I've gone to a few in a different city while away at school but this will be my first one in my home town. The topic of the meeting is analyzing deals so they ask those who are going to bring our potential deals. I just found a 4-plex that I would like to use as an owner occupant. I read

Introduction to Real Estate Investment Deal Analysis by J. Scott and have a feel for what I SHOULD have.

My question is, due to the limited time I have before the meeting, what is the minimal information I need try to get to analyze a deal? The only information I have so far is off of Zillow and Trulia, and I have a request into the seller/agent for more information such on current rents, property taxes, maintenance and insurance costs.

This would be my first property purchase so any input would be appreciated.  

@Inam Rehman I'm in the same situation. I am graduating from uw whitewater in a week and was looking into moving to milwaukee but will most likely be stuck living in janesville for a while. I attend the milwaukee REIA meetings which aren't that far away and I don't mind the drive, however I don't think I can take the time to do the proper research on milwaukee from so far away.

It's been a few months since your post though so I was wondering if you have any updates or advice.

@Dylan Grieve any updates? I'm graduating May 17 and I'm in a similar situation.

@Mike Wadsley I was strongly considering the 1/2 option. What do I look for? Duplexes, multi family homes? Or if someone could direct me to the forum section I can post that question that would be great. I'm not up to date forum etiquette.

@derekleblanc. I am just starting out and I'm 22 so I know how you're feeling. I went to my first local REIA meeting and one of the things I took away was the more open you are to people about your intentions the more they will be willing to work with you. Now with that said, the topic of the REIA meeting was short sales, but building a rapport can't hurt.

Hello! My name is Adam Johnson. I'm was born in Janesville, WI and also lived in Wausau, WI. I just learned about real estate investing over Thanksgiving weekend 2013 while talking to an investor I had just met. He was born Wausau and now owns his own company in Denver doing rehab and flips. I began researching real estate investing and on the web and went to my first local REIA meeting in Milwaukee on April 22, 2014. I am currently a student graduating from UW-Whitewater on May 17, 2014 and before I enter the police academy in the Fall I want to learn about what real estate investing has to offer.

My goal is to be financially independent. I know that breaking into real estate investing is going to be difficult as I was frustrated and discouraged after realizing how much I have to learn after attending the REIA meeting.

I am young and inexperienced but I am determined to make real estate investing work for me. I joined this website because the investor I met from Denver told me that if I want to be successful, I need to surround myself with successful people and I feel participating on this website will benefit my real estate investing career.

As of now, I am mostly seeking advice on how to get started. I encourage and appreciate any and all advice thrown my way from anyone on this site.