All Forum Posts by: Erik Stewart

Over a year later, how are those 4-plexes doing for you?

I love how you broke down all the numbers for us.

Thanks!

Very cool!

Thanks for sharing!

Thank you for taking the time to detail your success story! It really shows that all it takes is the will and a plan! I love it!

Thanks again!

Thanks! That is so great for us Newbies to hear. Persistence pays off and having a positive attitude. Anytime I feel like I am hitting a wall or growing stagnant, I will read some stories like this and it pulls me right back on track! Thank you sir!

Very true! Great post. It is simple, but not necessarily easy to do. Discipline and long term goals are the staple of a savvy investor. Good luck everyone!

Make something great happen today!

Hello!

I own a small, old house on a HUGE double lot in a small town of 2000 people. I was approached by the Housing and Re-development Authority in my home town where I had bought the house 5 years ago for $25,000. I have been renting it for $400/month. They told me there was a retired couple wanting to demolish my house and build new there. I am unfamiliar with their process and would like some friendly advice!

My question is:

What are the benefits/drawbacks of selling to the HRA vs selling it via traditional routes?

Will the HRA offer more/less for the property and why?

Thanks in advance!

Erik

Hello,

Just wondering if anyone knows this answer. I can't seem to find it online. If I have an FHA loan for the house I own, can my fiance get her own after we get married? Or will she lose the option by getting married?

Thanks!

There are so many creative financing methods out there. If you haven't already, you should read the Ultimate Beginners Guide https://www.biggerpockets.com/real-estate-investin...

This is a good start, especially chapter 6 on financing deals. Many people love the idea of partnerships as well. You can structure partnership so that you do all the work and have all the knowledge and your partner brings the money. All profits are then split 50-50. In that scenario, your partner would put the 20% down and you would manage the project, then split profits. No/low money out of your own pocket. Again, there are many financing strategies so my advice is to educate yourself to expert level and network! 

Good luck @Jose Quintana let me know if you have any other questions! 

Very interesting topic. Thanks everyone! I learned a lot about appliances but the biggest thing is that it is market specific. I would assume this can be generalized to many questions that are posted.