All Forum Posts by: Alan McDonald

@Justin Rank yeah I definitely want to jump in but I know it will need so relatively major work. I’m trying now to get estimates on repairs and maintenance and looking now on saving up enough cash reserves to get the mortgage for this. Little nervous since taken my life savings to get the mortgage but I know it’s a great investment if I do this wisely

@Aaron Belt thanks Aaron for the positive energy! I'm excited to get officially started on my REI journey. That was the thing is that it has been operating with negative cash flow for years and it wasn't treated as a business so I want to make this house back to the blessing it truly is for the fam. What was the House Academy course you mentioned? Does it cover multiple strategies or focus on a specific one/ what was your biggest take away from the course?

@Brian Ellis Thanks Brian, yeah I believe I will be the same way of rolling with the punches and just adapting as I go. If you ever in Watertown area and have time, let me know! Would love to run ideas by you.

Hi,

I'm new to REI and have been doing my research for some time now. I have a family member who is looking to sell their 3-family house at a rate lower then market in order to keep it in family in the next year or two. I'm new to REI and was listening to the BP podcast about when you are new to REI to first come up with your niche. I'm thinking if I do purchase this property, which is valuable but would need some TLC, should my niche then be rentals since I would want to keep it in the family? Or would it still make sense to look into other REI niches even though I'm starting with a rental? Does anyone have advice on how to go about this?