All Forum Posts by: Dan D.

Originally posted by @Brandon L.:

@Dan D. I would not consider your occupation a "dead end" you are getting paid well, and I am sure if this job ends you could find one that is similar. 

Short answer- get paid as much as you can while you invest. 2 or 3 cash flowing properties will bring in what you would get paid at a 15.00 dollar an hour job. 

Feel free to reach out privately if you have any other questions.

Brandon, you make a very good point about the cash flowing properties. It's giving me a lot to think about. Thank you

Great advice guys, I really appreciate it. I get what you guys are saying, just stick it out and invest when you can. Staying in my current field of experience is key if I am looking to conventionally finance my first or future deals.

Hey guys,

I have a problem I hope you can help me with.

Currently, I am working a job I am speculating will end some time in the next month or so (maybe sooner but who knows). I am making $42/hr with no benefits (being taught pipefitting for the union, but God this job sucks). This job, though admittedly pays well ($5200/mo after taxes), does not help me towards my goals of learning about house flipping/BRRRR.

Once this job ends, I might have an opportunity to go back to California (that's where I'm from) and work another dead end job (doing the same thing) for $55/hr for another couple of months, but unsure if it'll pan out.

Currently I am studying all I can to educate myself to (hopefully soon) purchase my first investment.

Hypothetically, if I were to take a job in RE (property management for example), my estimated hourly rate would be $15/hr., which would equal approximately $1800/mo working full time. In order to make ends meet, I would have to flip a house and have at least $15,000 profit every 4 months.

So, the question is, should I more so consider working in the RE field (i.e. property management team, working in a bank, etc) or just do these temp jobs to build a little more capital before beginning?

Hi everyone. New investor in Green Bay and I dream of quitting my day job and investing in 100% passive income. I figured out I need to make about $6000 a month and am wanting to reach that goal in 5 years. Currently I'm working a day job that pays the bills, but feel it will be ending soon. I'm still in the study phase of learning about real estate, but am trying to get my ducks in a row.

I have 3 months cash saved up just in case of emergencies.

So, what would you do?

@alicia mccole Welcome. I also new to this whole real estate thing in the Green Bay Area. I agree with what Dan Gray said about the local REAI. I have yet to go, but that's where everyone on here says to go. Good luck, Dan

Gentlemen, thanks so much for the reply. @John Warren I will defiantly try out the percentage rule. Thanks so much @John Leavelle you said to look for key work facilities and universities. How will this help paint a good picture for an area to invest? @George Skidis The advice about finding a realtor and getting access to the MLS is great. Of course I know I must built a relationship with them first. Also I thought it was a great idea to pick 50 homes and then just sit in the neighborhood. As far as the attorney, we might talk about that a little more down the road

I have been reading books, perusing blogs and joining in on discussions about how to find your first investment property. And, they all say to know your market. That's all well and good, but what if you are new to an area and have no idea what the market is like. I've heard people talk about metrics and that you should know all this data about the areas you want to invest in, but what are the top 10 or so pieces of data you want to focus on? Where would I get this information without having access to the MLS?

I have been reading books, perusing blogs and joining in on discussions about how to find your first investment property. And, they all say to know your market. That's all well and good, but what if you are new to an area and have no idea what the market is like. I've heard people talk about metrics and that you should know all this data about the areas you want to invest in, but what are the top 10 or so pieces of data you want to focus on? Where would I get this information without having access to the MLS?

Strangely enough, I was cruising Pinterest and was reading something from cashflow diaries. I had no idea about real estate, but I was intrigued. After reading a little there, I found a link to BP. That link changed my world! Now in my mid-40s, I'm seriously considering on giving this thing a go. I've been ravenously digesting about every RE book I can get my hands on. I'm also finding the blogs on here are a huge help. Thanks BP!

Someone on here suggested Blue Frog a while back on here. You might want to check those guys out