All Forum Posts by: Andrew Davis

Hey @Colton S.

wrote a great blog post on some books that have been very impactful for him, I would check that out as well.

http://www.biggerpockets.com/renewsblog/2014/12/24...

Hey Elle,

What a great position to be in; this site is full of people who have quit their full time job through REI, so you've come to the right place.

I'll point you to a couple resources, but I think the answer to your question is to do what you enjoy most.  If it's flips, do those!  Figure out how many you need to do in a year to quit your job and put together a plan to get it done.  If it's land-lording and providing great places for people to live, then do that!

That being said, there's a few podcasts that I hope will be helpful for you:

http://www.biggerpockets.com/renewsblog/2015/04/02...

http://www.biggerpockets.com/renewsblog/2015/03/26...

http://www.biggerpockets.com/renewsblog/2015/03/12...

I hope you find those informative. I started REI full time in the fall and I'm loving it!

Hey @Jonathan West , welcome to BP and the investing world!

I would strongly suggest starting here: http://www.biggerpockets.com/starthere

You will a wealth of investing knowledge and a lot of helpful resources.

Also, in between puppeting gigs, definitely check out the podcasts, they are a RE education in and of themselves, and you'll learn anything you would have learned from the guru express, for free!

I'm a local investor/agent so please reach out if I can ever be of any assistance to you.

I wish you great success!

Hey @Kyle D. , you've received some great advice, and I won't attempt to add to it.

Just wanted to say well done!  It looks like you've found a potentially great deal that well exceeds the 2% rule, even with all the tenants not paying rent.  I can foresee you managing it well and making some serious cash flow on it.

How did you find it by the way?

Keep us updated!

Hey @Doug Duvall , welcome to BP!

Great advice from @Rafael Norat & @Judah Hoover .

Additionally, read through this over the weekend and you will be way ahead of the game.

I wish you great success!

Hey Alfonso,

I've gone through the 203k process, which I believe is very similar.  There's definitely a lot of red tape, BUT, getting money to purchase and rehab a property at market interest rates is definitely worth it!

Hey @Jared K. , welcome to BP!

I would definitely agree with @Melissa W. , local meetings are a great place to get connected.

Also, read through this and you'll be well on your way, pay special attention to "The Best of Bigger Pockets" section.

Congratulations on getting started so young!

Hey @Jason Prendergast 

What was your plan going in?  What did you pay for it?  What are your goals and how did this property fit into them?  I think when you answer those questions, you'll be able to answer the questions you asked.

Logistically, if a property is going to be a long term rental I would tend towards tile and not hardwood, especially if it's going to cost you 2300 just to refinish it.

Keep us updated!

I second @James Wise , @Jeremy T. and @Mark Freeman . Find great deals, aka not something off the MLS, and buyers will come to you. Rather than just trying to build a buyers list, start connecting with people. Builders, Agents, Property Managers, Title Companies, Lenders... and provide value.

Also, put some time into the presentation of your deal, that goes a long way!

I wish you great success @Victoria Nellon 

Thanks @Loren Thomas , glad it was helpful to you!