All Forum Posts by: Derrick Dill

You can do both. You can have a career and be a real estate investor. I'm an RN in my lower 30s with 6 properties under my belt. I could be financially free, but I love my job and will work per diem at least during retirement.

I've seen people immensely successful doing just real estate, and having just a career, as well as both real estate and a career.

Why not take a little bit of both, and do trade school, learn how to be a contractor, BRRR houses and do real estate? Depends what YOU want to do..

I applied for both EIDL and PPP loan as a landlord with 6 properties. I got 16k EIDL LOAN (not grant), and was not accepted for PPP (grant). I applied for rental assistance and it's still pending as it just came out last week, we'll see.

Usually not so simple just put a tiny house back there with zoning/permits. Tiny houses are also more expensive than you think. Might consider converting the garage. Converted my garage for 40k into an ADU

Seems like you've been burdened financially and fit under the protections of eviction moratorium. Sign the paper and send to him and keep copies that you sent to him. Do everything legal and know your rights. Tenants are well-protected, evictions take forever and there's a moratorium right now. I have some tenants right now not paying and I can't evict them if I wanted to, courts are closed still.

There's a auto-populated response on FB that appears when they send that message. I click it, and it replys automatically with that message

I would do the most basic renovations: Clean, Paint, appliances, flooring (Vinyl plank). Can realistically do all of these for 15k, I just did it. These will give best bang for your buck imo

That is there message that auto-populates for them to reach out. I counter with the message that auto-populates as well "yes, it is available", or "no, it is not available". I'll give them the same effort they put in.

I've purchased 2+ properties in California and Ohio for > 5 years. My Duplex in southern California was bought for 440k in 2015, it was appraised this year at 660k (I did make several improvements). Nearly 50% appreciated and It cash flows about 200$/mo after mortgage/expenses etc. but the appreciation has gave me leverage/capital to invest in other properties.

I have several properties in Ohio that I had refinanced into 15 year loans and they each cash flow 200$-500$ after mortgage and expenses. They've appreciated 20-30% since I bought them in 2016.

It really depends what you're looking for. The Ohio properties will be paid-off and I'll be financially free in my 40s, but I couldn't acquire those Ohio properties without the appreciation I received from my California properties.

Wire it from your bank to escrow. Your lender should be walking you through the process

Joe is correct. You should be reaching out to all lenders within this period so your credit inquiry counts as one