All Forum Posts by: Jacob Prelle

@Jerry Shen, yeah when you put it that way, it seems so impossible. Such a distant future if at all..

But I think I'll need to continue reading on this topic and there have been great suggestions here, so I'm grateful for the advice. Thank you, everyone.

@Russell Gronsky, awesome explanation. I'll definitely look into this. Thanks for the info. 

@Chris Tracy, please let me know how I can seek out partners like yours and how I can appropriately vet them. I'm super scared of losing all my money so I can't just give someone my cash. I need to feel comfortable (although I understand any investment comes with risk) but I know I can mitigate as much risk as I can.

I know there's no chart or table I can look up, but with a 100K investment, would ANYONE be able to ballpark a return? I understand deals GREATLY differ, but was curious if someone had a figure.

@Scott Skinger, I don't like the crowdfunding route mostly because I have ZERO control. I tested the waters last year with a small amount of cash and it's doing well. I think I'm getting just over 7% on the investment. But again, it's out of my hands and I'd prefer to be in a building that I can affect the return. 

If you're interested, I'm invested in Fundrise.

I have greatly considered house hacking, and the BRRRR method but in southern California it's really hard to find a good buy for reasonable money. I know I can FHA the property, but the good deals would force me and my wife to move to the straight up undesirable areas. Like... we're talking higher crime rates.

Rookie mistake, sorry about that. 

I make 150K/yr now. (in 6 months will reduce my income to 100K/yr)

I have 100K saved right now and in 6 months I'll have saved 150K

Moving from Pittsburgh back to home in Orange County California - not possible to buy a reasonably priced multi. Seriously it's at least 1 million for a quad.

I haven't delved into loans yet. But if you're asking about my credit (ability to obtain a loan), I have zero debt and 815 fico.

@Brie Schmidt, do I have to specifically find a commercial lender? 

@Nick B., I'll look into that. Thank you. I have literally owned no property but have spent the last 2 years reading books, blogs, articles, and begun researching apt buildings - i feel they would have better ROI's.

I make 150K a year right now but I work 2,000 miles away from home and from my wife. I'm miserable. So in 6 months, I'm taking a job back home making 100K a year.

Can I realistically buy an apt building (as many doors as I can) on that income? Or should I be looking into some alternative?

Reading through some forum posts, I'm finding that syndications require 'accredited' investors, which I am not. 

FYI - end goals are to have 10k relatively passive income a month - in perpetuity. I may 1031 exchange later, certainly will buy more, I don't know. It may take 10 or 15 years to make that. (i'm hoping only that long)

I'm a newbie as well in an almost identical situation and this posting was great! Thank you to all those that responded and to OP for posting the question. I can see that there are plenty of paths to get to the ideal endpoint. I'm hoping that we can quickly make those right connections and choose that right path.

I'm going to join my local REIA and try to meet people who want to invest and people who want to teach. Thank you!

I've recently heard that an Airbnb in Vegas can do pretty well. After a quick internet search, I've learned that you should 

1. avoid HOAs and 

2. the new laws may limit you to only airbnb in North Las Vegas (otherwise you're limited on time of renting).

What's the type of property I should look at? My guess is SFR with as many rooms as I can and as close to the strip as I can.

How much money am I looking at to spend? I would like to purchase for under 300k. Is that going to get me anything good?

If anyone has an excel file with financials, I'd love to see it. Honestly just trying to figure out if it's a good option or more of a headache.

Thank you in advance!

Never thought about it. I'll have to do the research. Thanks!