All Forum Posts by: Dexter Stewart

Originally posted by @Account Closed:

@Dexter Stewart Welcome to BP! As a fellow Ft. Lauderdale investor I can certainly help you. Send me an email.. Connect with @Yasmine Bisumber she is another great resource.

 Thanks! I definitely will! 

Originally posted by @Abhilash Joseph:

Dexter,

Welcome to BP and good job with the research and the decision to get into multi-family units. All 3 of your questions are answered multiple times in different ways, and there is a wealth of expertise in each of those responses...I would encourage you to search these questions and learn from further refined questions particular to your case/scenario.

Good fortune ahead.

 Thank you for your response! I have read many different answers, I was just looking for a direct answer to my question. Thank you again for posting! 

Hi there BP, 

I am looking to get into the REI world by building a portfolio of rental properties. I have done quite a bit of homework on this topic and it seems to me the best way to get started is with a multi-family home.

My question(s) are as follow:

1. How does one fine these homes? 

2. Do I necessarily need to live in the property? 

3. I see many blogs talk about 30-year mortgages, but wouldn't it be better to get a 20-year or 15-year mortgage in order to pay it off faster (more positive cash-flow)? 

Thanks for the time BP. 

Would I necessarily need to live in the multi-family home? And is there a way to look into these deals because as I scan them in my local area, it seems that mortgage isn't less or is almost equal to the rent that I could charge. Don't I have to pay taxes on that money that I receive from the renters? Thanks. 

Hello there BP, 

I have a question about starting out in the REI world.

How much cash is the right amount to get started? 

I've heard of people using 30k, 50k, etc. I've also heard of people using 3k just for a down-payment. My long-term goal is to buy and hold, I am hoping to create a steady monthly-income of 30k a month by the time I'm 40. I am 20 now. 

If your were to start today, what would your first move be? How much should I really save up before jumping into the landlord world? 

Thanks BP. 

Best Regards,

Dexter Stewart 

Thank you for everyone who replied! I apologize for the text I did it on my phone and unfortunately it came out as one block. What is the best way to jump into probate Flordia RE? And to Adrain thank you! And to Rick I agree! 

That's why I'm getting started with some probate deals in my local area. I am more of walker than a talker, but I also don't want to walk into something I can't get out of. 

Hello BP! My name is Dexter Stewart, I am full-time student and a HUGE real estate enthusiast! I've loved the idea of real estate since playing Monopoly as a kid. I'm sure someone here can relate! Anyway I live in beautiful South Florida and I am eagerly interested in how to get started! I would like to give you my plan. And if it sounds crazy/unrealistic please tell me! 1.) I am looking into Probate Real Estate and perhaps wholesaling a couple of properties maybe 4/5 just to get some cash in my pocket and get my feet wet. 2.) Once I've dipped my feet in, I would like to start getting into rental properties (again using Probate as I find those numbers to have the highest spreads) and continue to flip through wholesaling probate properties. Just so I can have some income while my rental properties pay themselves off. 3.) After owning a couple of rental properties all running efficiently and profitably! I would like to do total flips, like you see on TV. And hopefully be running an RE company that's generating 250K+ a year within 10 years. I guess my questions are: 1.) Are my goals realistic/reasonable? 2.) Has anyone ever taken this road before? 3.) Is there anyone currently on this road? 4.) What is the best way to get started? I hope to communicate and learn lessons from RE investors from all over the country. And world if anyone has ever done that before, please share! I have read many, many, many RE books and continue to do so. I also listen to podcasts and webinars as often as possible. I just want to know if I'm heading in the right direction. The hardest thing for me is getting started. I just don't know how to make that big push. Should I invest more time/money into meetings, seminars, etc. Or should I seek help in the form of a RE mentor? My current situation is, my grandmother lives in a retirement community near-me and has had some passings in the last couple of months (this is where probate comes up) and I was considering approaching the new owner who just inherited a property from there deceased loved one. These are apartment buildings and I was considering these to be the perfect place to start! Now how I go about this is a whole different forum, but I just want to know if I'm going the right way. I was going to approach the admin, get it under contract and contact a cash buyer and try to make 5k on it. Is this crazy? Is to make 10k insane? So this is getting long, thank you to anyone who made it this far and I appreciate all opinions, comments and concerns in advance. I look forward to talking to you all! Thank You. Best Regards, Dexter Stewart