All Forum Posts by: Damon Armstrong

I agree with Gary. From the way it sounds is the worst that could happen is you under estimate ARV and your investor makes a killing. In this case your buyer will be eager to buy from you in the future. If you can work with the listing price then go for it, your job is to help distressed sellers and let someone else pay you for doing it. Win-win-win.

@Mark Severino 

Thank you, like I said my main question was whether I should spend money on real estate, or college. But I know I'm going to go now, I just wanted to make sure that would be a smart avenue for a real estate investor. I'm definitely going to go along the lines of financing and business and try to have a gap year inbetween high school and college to save up a little, and attempt to purchase that duplex or triplex near the school. My only worry is that I won't qualify. We'll see, We'll see!

@Tyson Cross 

Are you ok with buying here-n-there? Basically anywhere in the country where you find a good deal, are you willing to go through with it(?) or are you looking for one specfic market?

 How does the behavior of fish affect whether your aquarium has a leak or not? That has nothing to do with how the fish acts, but the quality of the aquarium. I personally find it hard to believe you had to replace carpet, AND laminate flooring, AND wood flooring. If you did I can ensure you it was not the fish's fault! You specifically said, "Especially when being set up require fairly constant water checks so there's an additional risk of water spillage on carpets or other floor surfaces". Again, this has NOTHING to do with the aggressiveness of fish, or the fish's behavior in general, but YOUR ability to properly and safely set up the aquarium.

@Robert Leonard 

How do you know off the bat that it will negative cashflow with the given info? All you have is a purchase price and rent amount, so how do you determine (by just that) that it will negative cashflow? I wish I could analyze numbers that quickly! Please enlighten me (:

@Matt Lefebvre 

Yeah, I thought about a gap year. I want to get settled into whatever I buy and try to save up some money so I don't have to work (as much) while in school. I'm not looking to get a degree in real estate anymore. I am going to get a degree in something else that would HELP with real estate. Read J Scott's post and that'll explain why. Real estate degree limits me to working in real estate, a different degree gives me a back up plan AND helps with real estate. Also, like one of the other guys said, a degree in something else may really help out with potential partners, lenders, etc. Great to see you on here. Love talking to you guys to compare myself too. Sometimes I don't feel so behind. I feel right on track. Thanks to you @Account Closed 

Big Brandon! Famous in more places than just Bigger Pockets!!

I read that exact same blog a few months ago. Looks like you guys are impacting more than just the bigger pockets family. Word is spreading fast, eh?!

He might've had another contract before yours. If not you would probably have to go through alot of legal work to get it even though you had rights to it. Not even worth the hassle. Some people are just unpredictable. Maybe look the house up in public records to see who the title holder is. Maybe he didn't sell it. Maybe he just didn't show up. Then again maybe he did. I'd still check public records. Let us know what you find.

Can you provide some numbers?

purchase price?

rehab costs?

current holding costs?

what were some expenses you didn't anticipate?

what is it listed for?

By the way, beautiful home.