All Forum Posts by: Ryan Conrad

I feel you. I know I see these guests on the show with 93 doors, maybe 39 properties and I'm like how do I get there quickly with figures like $300 in profit? My initial plan is to save a decent down payment to buy a duplex in California. While living in the property my rent will be very inexpensive and I will still be able to save a 2nd down over 2 years to do it again. When I move out, I plan to make about $800 or $400 per side. I'm pretty conservative with the numbers as well. I just hope we can scale it and figure out how to get more doors. 

Good luck getting started!!!! I'd consider househacking as an option. :) 

Welcome to BP. I also want to househack my first rental in the Citrus Heights/Orangevale area most likely. I plan on doing a duplex, living there for 2 years and then buying a second property. If I can scale up, that would be great! But I gotta get started somewhere. 

I personally think the numbers are tight but I'm used to seeing examples like yours here in California. I was listening to the podcast and heard the 1% rule and I think your examples are barely achieving that when you've mentioned rents could be $1100. Many of the BP users would want 2%. If you're not familiar with this they say if you buy a home for $300,000, it should bring in 1% or  $3,000 monthly or $1500/unit. Some users wouldn't even be happy with that return though but others it fits their standards. I may suggest using their calculator to view the stats a little more in detailed. Your story is similar to mine though. We're also saving $2000-3000 per month setting ourselves up to purchase a duplex. I however am planning to save a larger down payment than you are. I'm planning on saving 20% and having a large emergency fund incase I have a problem right out of the gate. Then, over the course of two years we'll save a second 20% down and move to a new duplex. Then see where we can go from there....Once you feel ready, I'd make low ball offers on these properties. It's really going to help you out if you can get a great deal on your first property.

This is just some thoughts from a rookie wanting to do what you're also wanting to do. There are many other investors here with more experience that hopefully can help you out. I am beyond excited to get in the game as you likely are too.

My why is to create enough passive income so that myself and my soon to be wife don't have to work. I'd also like to be successful enough to be featured on the Bigger Pockets podcast one day. ;)

Great job! Congrats on jumping in the pool! I'm still in my shorts, putting sunscreen on (saving) . lol. I'm so excited to dive in as well!

My current thought process is locally but I am willing to keep an open mind. There are some people who do flips in California only to earn the capital to do big things outside of California.

And I think I've found the exception although I know many potential women who may meet your known criteria. lol. My Fiance grew up in Mexico for 24 years. She's been here about 7. She's got large goals but happy with not much which combined makes for a good mental start to a successful investing career. :)

 This market is fairly insane. I'm seeing some ugly houses in neighboring cities appreciating at rates that just don't make sense. Great for OWNERS!!! I recognize that the deals are probably still out there waiting to be found and creativity plays a roll in that, but this market does fuel some of my hesitance on urgency. Welcome!!!

 Thanks Adam. We'll dive in soon! I know that's technically the best way to learn. Good or bad.

Thanks Tobias. Yeah. The duplex does look appealing in many ways with only a few draw backs. I'm not above living in a side and could even use a property manager if I felt the need so that they aren't knocking on my door in the middle of the night.