All Forum Posts by: Jay J.

I think the SEC would have issues with your idea..  I'm not an expert, but there are laws about soliciting for money for investments..  

Hey @David Zheng !
I've often wondered the same thing..  But if you think about it, you can change what you make on a property (kind of) by modifying the amount of money you put down and how much you finance. 

For (extreme) example to show the point;

lets assume, investor wants to buy $100k house, has $50k cash and can get a loan for $100k (5%/30yr) if wanted, and the house would rent for $850

Option 1: Buy with minimum down (5% to make it easy)

put $5k down, finance $95k .. Mortgage is approx $500, leaving just over $350 for all other expenses, plus any profit for you. With that high of a debt on the house, you wouldn't cash flow. But in 30 yrs, you'll own it.

Option 2: Put it all down

put all $50k down, finance $50k.. mortgage is approx $260, leaving approx $600 for all expenses. This would most likely leave a couple hundred at the end of the month for you. You would still own this in 30 yrs too.

So, by looking at the extreme examples, you'll probably notice that a lot depends on how much cash you have, how much you're willing to part with, and what your end goals are..

My 2 cents, do whats comfortable. If you want/need cashflow now, put more down. If you're playing long ball, maybe cashflow $50, but pay down the mortgage..   

..its all in your approach and goals..

Welcome @Melody Sharp. You have already set yourself up for success by joining BiggerPockets!!
This is really the premier place to start learning about RE and what it can do for you! Its also a great place to network with like minded investors!

Since you mentioned you've read alot of the material here, you should listening to the free BiggerPockets Podcast - A really great podcast with interviews and a ton of great advice. --> https://www.biggerpockets.com/renewsblog/category/...

Good Luck!!

@Gina Ooi "Professional Real Estate Photographer" .. is that a real thing..??  I mean no disrespect, but I guess I had never really thought about it. 

But, I guess if you're trying to sell a property, you gotta make it look good..  and good pictures are part of that.  People spend money to have empty houses filled with furniture, or staging as some call it..  so I guess it makes sense.

Welcome. You have already set yourself up for success by joining BiggerPockets!!
This is really the premier place to start learning about RE and what it can do for you!

1. First things first, learn the basics --> http://www.biggerpockets.com/starthere

2. Then, download the BiggerPockets Ultimate Beginner's Guide and start reading some more!!
The UBG will will walk through many of the key topics of real estate investing. Ask anyone here, its an invaluable resource. --> https://www.biggerpockets.com/real-estate-investin...
3. Once that's done, get to listening to the free BiggerPockets Podcast - A really great podcast with interviews and a ton of great advice. --> https://www.biggerpockets.com/renewsblog/category/...

4. Now you're ready to face the RE world !! GO GET IT!!

Can you get 'boots on the ground' and look at the property??  Reach out here and see if there is anyone local to the property..  (I'm in Cincinnati, I'll help if I can)

Maybe pose as a potential tenant and see what the PM says to you (as a renter) in that situation..?

Hope it works out..  

Great post!!  I love when other users share resources!!

Not every property is a good deal..  or even a deal.  Use the BP calculators and see if it makes sense..

If not, move on.. don't fall in love with the property, fall for the numbers!!

What's got you stuck @Kenneth Jenkins  ...???

@John P. I'm local to cincinnati. we have a great market right now and several home that could meet your needs. Send me a message and we'll talk!