All Forum Posts by: James Thomas Nakashian

@Nicole Heasley Beitenman I appreciate the answer, I agree with you. Someone I know had asked me to post the question on my account because they didn't have an account. They knew I did and was hoping for a bigger consensus. Unfortunately, we only have your answer for now and we appreciate it. 

"I'm thinking about hiring Tony Youngs for his hands-on coaching program about finding deals in the "hidden market." Does anyone have feedback on him?" The question was asked too me. Can bigger pockets members give their input or even know of/done the program?

@Frank Patalano it was purely an investment.

@Frank Patalano I wouldn’t say I’m new to this. But in the grand scheme of things I’m fairly new. I bought my first property two years ago after working for a year and a half and put on most of my entire savings into my first property. I have $1000 left in the bank but I knew I still had a job and just had to be frugal the next couple months. Fast forward two years, The property I had bought for $275,000 just went under contract for $335,000. Now again I don’t count the money until it’s in the bank. But it’s a good sign. So to people who are new reading, Listening to the BiggerPockets podcast, and trusting your self should give you the ability to say I can do this and work hard at it and you will see results.

@Chance Brookins You should always be looking!!!

@Sinil Kim You should be able to raise it without an issue. Unless they’ve signed a lease agreement with you that states for the next month it’ll be $825 a month. Otherwise the last lease agreement was made with the old owner. If the tenants do not want to pay the increase then they should leave and you should find new tenants. You are an investor trying to make money. You have to do what you have to do.

@Jameson Hooton Just to give it to you quickly. Because a lot of people have gone to further lengths to try to play this out. It is totally possible on your first deal to calculate all the things you are asking. If you continue further with this way of life, the more deals you do the more TIME you will need. Therefore, if you own multiple properties that you are renting, or you flip multiple properties a year, or however you plan to use your time in real estate, it would be counter productive for you to spend so much time calculating your hours and the other things you talk about. As you go further you are going to use your time in more productive ways to better your craft/business. @Joe Villeneuve states a lot of good points but NO QUESTION IS DUMB! You can do this!

@Eric Stiegel Again Dave is definitely more of a professional with This aspect of real estate. But from what I understand 1031 exchanges are for investment/business purposes. it is not based off of your capital gain in the property the point is to take your full investment and use it to obtain a property that is of equal value or more value. Therefore,using the $150,000 as your down payment you will not pay taxes on that but on the 112,000 you plan to use your daughters education will be taxable.

@Dave Foster i went to go give my advice on the matter. And as i hit the post button after nobody had replied and i see you had already done what i had suggested to do! IRONIC!