All Forum Posts by: James Murphey

@James Wise It seems to me the whole no money down is a "potentially legit route", but  much more unlikely.  If some one has no money, or any assets the chances of them coming to a point where they have the knowledge of a great deal that needs financing seems slim to none. It is essentially the guy who watches a million YouTube Videos on fasting and working out, and then just pulls the triggers and in a few months is super fit with six pack abs.  Is it impossible? NO. Is it is highly probably, probably not.  There will be mixed results.  If someone has a ton of debt, and needs money for a "great deal" I would be skeptical, but maybe they have hit their harajuku moment.  If it is an investor that has a great track record, and assets to back up their record, I would be open to investing with that person. 

@Tom Aiello As a High School teachers I can not agree more.  Set for Life should be part of the curriculum.  

@Jian Lin I am still a newbie at this point. I am currently building up capital, and knowledge. Next year we are moving to Tennessee to start with a house hack and I should be able to purchase a couple of rental houses. I feel like Chad Carson gives the most detailed road map of where I want to go. His book retire on real estate gives you some road maps. Hope that helps. 

@jian I am still a newbie at this point.  I am currently building up capital, and knowledge. Next year we are moving to Tennessee to start with a house hack and I should be able to purchase a couple of rental houses. I feel like Chad Carson gives the most detailed road map of where I want to go.  His book retire on real estate gives you some road maps.  Hope that helps.  

Set For Life- Scott Trench -- a great book that give a road map to financial freedom

Land lording on Autopilot- Mark Butler-- gives great advice on how to actually run your real estate business

Retire Early With Real Estate-Chad Carson-- Give methods and case studies of people who have retired with real estate.

Some of my favorites

I love the idea of only being responsible for for a plot of land, and hookups.  Getting paid $200 for that in a small 10 unit park.  Essentially making 2k a month for minor maintenance cost.  Actually owning multiple mobile homes that are deprecating and need constant maintenance sounds like too much work for me.  On Bigger Pockets podcast the Park brothers detail their model of buying and running massive parks.  They usually try to offload the mobile home to the tenant, and then just collect rent on the actual land.  You have hardly any maintenance cost.  Just a thought.  

@Andrea Cole Awesome!  I love that book. I know David Greene said he coming out with a book about BRRRRing in the early 2019.  I am looking forward to it.  His other book Long Distance Real Estate Investing is also excellent and describes  BRRRRing.  

@Andrea Cole That is a tough decision. I am a newbie, but I have read a few books, and am still organizing my goals. I really like Chard Carson's book Retire with Real Estate. He describes several methods for building cash flow with few or many properties. Moving properties into an LLC when they are paid off , or leveraging them and keeping them out. He also describes the debt snowball which is a great way to pay off properties fast, and increase cash flow. Also Brandon Turners Book on How to Invest with Low and No Money Down is a great resource for investing when banks will not loan anymore. Learning how to look for "Bob." Anyways I hope I pointed you in the right direction.