All Forum Posts by: Ethan Jensen

Hi Michael,

Im looking to find a four plea to purchase in the midwest. I want the most current available listings for these type of offerings.

Hi BP,

How many of you use the loopnet.com service? $244.95 a month? Im thinking about just going with the one day option. 

Ethan

Great advice joe. Thank you..

thanks Nathan. Seems like those are the number, most investors are aiming for?

Hi BP,

I have a quick question for you.

I would like to purchase an apartment complex that has a purchase price around $400,000 and has yearly net profit of $60K. Do these type of deal exist? I could put 20% down.

Let me know if this is realistic investment pursuit.

thanks

Thank you everyone for your quick comments. I like the mention of Negative Nellies and Debbie Downers from Michelle! 

I did post some generic questions, because I feel very new to this path, but when I see some of the numbers in the marketplace, makes me kind of excited to jump all in. 

My big concern is buying an apartment complex at $400,000 and I'm overpaying, or I don't get the true rents the prospectus is showing. How do you get the courage of trusting the numbers? 

I have been jailed inside a cubicle for the last 20 years. Now, I'm pushing 40 and over it! It seems like Real Estate, is possibly the answer, of a more flexible life.

Should I use my current job to help with a loan for a real estate investment, before exiting? Or should I use it in the funding process? I would like to buy an apartment complex, that can net me about 50K a year, after all expenses are paid.

I have no responsibilities, but myself. Where can I find these apartment complexes?

regards

Just missed out on a short sale in Colorado springs. 3 bed 3 bath, listing price was 105K, I put in for 120K, someone outbidded me. I was going to go 130K too. I guess, that was a learning lesson. Should have went higher with the offer.

@Matt R.

Im going to see if I can work your formula, ** The working formula is 30k to 50k all in that rents 700 to 1000 in SoCo **

I will check out that property you are talking about in Hemet.

@Karen Margrave

I think Im going to take your advice and see if I can get something started here in southern California, and invest closer to home.

@Ali Boone

I guess that's the goal. the numbers have to work, however, I like your advice on location based. "Location, Location, Location". I think I read somewhere were you posted, along with others.

@Matt R.

Thank you for your response and for that matter, all of your responses. Matt, the areas you mentioned, you even like the inland empire and deserts in southern California. Also you mention the southern areas of Colorado. Would investing in areas like Hemet and Barstow, so colorado, have an association with older houses, and possible more upkeep/rehabbing efforts into these property types you recommend? I love the idea of getting the 60k houses, with the income ratios you identified. 1K for a 60K purchase.

@Austin S.

I definitely need to check out the NE area of Colorado. I'm starting to realize, you have to basically invest in the boonies, away from the larger cities, to get your higher ratios, is this correct?

@Dan Perkins

I feel like im in your camp. Maybe im in this fantasy bubble, I feel like I missed the train maybe. I also had plans of living in Denver some day. I heard it has an amazing walkability score and very green type demographics. I have worked for the FAA the last 20 years and just looking for some passive income, that can supplement retirement. I was thinking, investing 150K into real estate and seeing how to get the biggest return on that. I don't want to deal with the banks and loans, but if I need to leverage, maybe include a few small loans. But I just want to collect checks. I'm not trying to stock pile cash or be the next Donald trump. : ) To the point/goal. I want to get to the $3000 passive income level, off of my 150K investment and call it a day.

@Bill S.

Is there two strategies here? Appreciation on real estate vs. monthly income(rental income)... I want properties that can just cash flow every month. Hopefully the property retains value, +/- 10%. Hopefully break even on +10% side, after closing costs, if a sale is initiated in the future. Building gains through monthy rental income?

thanks BP for your feedback.

Its a good eye opener.