All Forum Posts by: Austen Carroll

@Shane Lafleur I'll try to make it! Thanks Shane

@Austen Carroll

25% down not $25 lol

@Zack Rutland

Just starting out, just make sure you do your homework. Run the numbers Zack.

With $100K you definitely have the liquid for a down payment, as a first time home buyer and investor you'll likely have to put 20% if not more commonly 25$ down. The market is extremely hot right now but interest rates are awesome.... so you might be over paying on property but a percent to a point and a half on a 30 year mortgage could save you even more when it comes to a low monthly = more cash flow.

That being said, with a turn key prop (the first door I bought). I made sure I kept six months mortgage for vacancy and any initial rehab/maintenance.

If all goes well with your first property, in six months or so you can have enough to finance another traditional rental + all the knowledge you gained from your first buy

Good luck

@Jay Hinrichs so woke!!!

Thanks for the insight

"I'll never call you my Landlord!!! Not even if there's a fire!"

@Jay Hinrichs

Got it. Thanks Jay. I'm reading about it now, I can understand it's necessity I guess. Not gonna turn this forum into political views lol

Back on the topic for the original question

@Eddie Torres I agree with the others, some communication to the seller about how you're not a large firm buying up the property to bull doze and put a Walmart in is well within the safe to disclose content.

You being a family man and purchasing this property for you family's financial well-being is to me noble. But the title "property/real estate investor" can seem intimidating if you're not totally educated on the subject. I know I wasn't

@Jay Hinrichs

Hold on a min.... are you guys saying there are state laws in place saying what information I can disclose in a personal letter to sellers??

As a property invester?

Hypothetical: I can walk up to somebody and say I want to buy your car. I also am married and have a daughter she's 4......

but when it comes to property this isn't allowed?

@Tanner Williams

Personally I'm bearish for being a landlord in OR.

I rent out a SFH in Salem, Or. Everything so far has gone well. But I read about changes coming (stricter rent control, moratorium etc)

If you were to sell, I'd reinvest that money in a different market. But if you're bullish or optimistic about buy and holds in OR, I'd keep what you have.

Lastly, if you're a more logical person. I'd run the numbers and compare them to your short and long term goes.

Calculate how much rent you could increase over the next 5-10 years, same with inflation.

What's your ROI now vs in 5 years with how much maintenance and other misc purchases you'll have to make.

I know I just calculate and scratch numbers on everything and anything I can think of when I'm unsure and usually the answer comes to me

@Michael Douglas good luck man!!!!!! Look forward to hearing about your success in Raleigh!

Are aiming for strictly the Raleigh market or the more broad triangle area?

@Kyle Roberts

Kyle I would love to attend the zoom!!!! Just getting started with the triangle area. New to REI. Looking to learn as much as I can!

How can I get the link?

Thanks

@David Keller I hope you do well David. I moved to NC two years ago and just now getting started with RE. I've owned and rented a couple SFH in other states (all were rent ready). Now I'm gonna give BRRRR method a go. Would love to hear what you learn about the area. I'm just now researching and looking into all of it myself