All Forum Posts by: James Barnes

Where is that?!^

Welcome to BP @Vernon Chatman!

Welcome. Looks like your doing well even before finding BP! This community of people is awesome. I'm sure it will be an asset to your REI career.

Good luck and have a wonderful day!

James

In the same boat here. There are some properties around me that are starting off at 5k at a auction(aprox30-50k to get them goo to go).Yes, I understand it's an auction and it could go up. These properties are in neighborhoods that well, frankly, suck. The numbers look amazing though. But I keep remembering everyone on BP says, location, location, location. It's hard to resist sometimes though. What about section 8 on those properties? Hire a property manager that way you wont have to deal with it..as much? I've been curious how people feel about these deals as well...

I'd hate to revamp an old topic but question @Ben Leybovich. I was just searching the BRRR strategy and this post showed up. I live in southern MD and around here, the apartments in need of rehab are not in the best of neighborhoods to say the least. What if we don't have an apartments locally? Would SFH then be okay in your mind to invest in? I also was under the impression that its better to learn to walk before you run.

In other words, wouldn't you want to start of with a small duplex-4plex or a SFH to get a taste of the landlording business? If he's asking how he could finance a SFH then what makes it easier to finance an apartment complex? Wouldn't you need the funds to do so upfront or then would you need to get "creative"?

Thanks

James

@Alexander Plott

Good evening Alexander. Welcome to BP! Welcome to the club, I am also in search of financial freedom. Sounds amazing doesn't it! Only advice I can give you at this point, as a fellow newb, is to do what I'm doing, and try to "break" the learn tab everyday!

Good luck!

James

@Jeffrey Giffin

Have you looked on the learn tab under the "How to analyze deals"? There is great information on that write up(take this with a grain of salt because I am a newb as well). Also there are some templates and spreadsheets that are pretty elaborate, as far as expenses go, in the file place.

James 

@Dyanne C.

Welcome to BP...again ;). It seems like buying and holding is a great start for newbies. You are already on the way since you already have your own property! Looks like you are in the same boat as me! I've been on here for weeks non-stop(well except for sleep). How well did you do when you purchased your first property? Are you going to be able to rent that one out for positive cash flow?

Hope everything goes in your favor!

James

Hi Dana,

Off topic, kind of, but why are you selling if you don't mind me asking?

James

Hello Francine,

Turn that "hopefully" into "I WILL" :). Awesome site and lots to learn. Click the learn tab and prepare to spend countless days... or weeks...or months learning. I'm still learning so much and my brain usually hurts by the time I get off of here for the day(I usually spend 3 hours plus on here while I'm at work).

Good luck!

James

Hello Gibrhann,

Nice to meet you! BP is awesome! I hope that everything goes well with your journey. Still a newbie as well....click the learn tab and go for it!

Have a good day

James