All Forum Posts by: Chris Webb

Great strategy!!

You should come to one of the Lynchburg meet ups, the next one we are touring a flip. Also, there may be a very good investment channel that reviews cash on cash return in Lynchburg, InvestLYH. 

Some people are just not willing to take risks with leverage - and I think that is fine. My opinion is they are not treated RE in a business manner, because most business growth is built on some sort of leverage. But, if they are using RE as a wealth savings device, that is ok with me. Not everyone is built for business. 

Have you talked with a lender on the plan to refi your existing home? That would determine if I invest in my primary vs saving for another. I would also go to a local group if possible, BRRRR is tough in this... interesting rate environment.

Chris 

Quote from @Manny Vasquez:

I think that most people here on BP stacked their portfolio 1 property at a time.  There is no "magic number" of properties to own, everyone has different goals and financial situations to get to their personal "magic number".  

While 4 homes may work great for investors like Mike Zuber, it may not be enough (or maybe too many properties) for other investors.  The journey to wealth via real estate will have different paths for different investors.

Yes, I agree. But you can't get to 10 without 4. I think what he discusses is the everyday person working a W2 needs a goal they can achieve. Even 10 seems unreasonable for many, but 4 gives them a goal and also allows them to see if they like it. 

Quote from @Scott Trench:

This is all I do, and essentially most of what I talk about across the 550 episodes of BiggerPockets Money with @Mindy Jensen. It's the focus of most of our RE podcast content, including the featured episode this week, with @Chad Carson, and @Dave Meyer.

Curious - why do you think that this wouldn't be allowed on BiggerPockets? 

This is most of what is done, and discussed, here on this platform.

I'll respond once, but I anticipate you completely understood the post. If not, reread the second sentence in my original post: 
"Mike Zuber has an excellent story on how this is possible and probably an excellent way for the any new investor to develop their wealth"

I'm unclear to why the issues with the ORAAT group exist. Do you have one guest on for Multi family like Cody Davis or have you had several people on? If you have had multiple people on, then the bar is set. You have many people on who focus on one area of real estate. Why not Mike? 
If the goal is providing a place for education and inspiration to real estate investors, wouldn't his story do both? 

Take care

A great way to build a portfolio is by adding one home at a time and there is a great discussion on the ability for investors to just get to 4 homes. Mike Zuber has an excellent story on how this is possible and probably an excellent way for the any new investor to develop their wealth. 

Yes, come on down tomorrow morning to the White Hart. 

Quote from @Aaron Howell:

@Jeff Tucker South Central is pretty broad.  I'd check Lynchburg : https://www.meetup.com/lynchburgreia/

I'm just north of there so I go to one in Wboro ocassionally.  There's also one in Charlottesville.

I would look into a manager, this is a bit murky and can open up some legal issues with one slip-up. 

I am not sure about the price levels in those markets. Are they coming down because they are relatively high? I know Austin is pretty high, according to RF, with a 500K median in Jan 24 and a 550K median today, prices are rising at the median level. But, this brings up another question. What is 'home value'? is it SFH? Condo's? That matters. But back to the original point. on RF today 99 homes have price reductions and about 2/3 are above the median of 550K, yes 'values' will drop if the price is initially set too high, which this the data tells me. I assume this is probably the case in the other areas as well.