All Forum Posts by: James Wise

For questions about Columbus, press 1.

Hello BP team, 

          How are you all? Hope all is well. I am looking to invest outside of California for the first time. I am looking to rent and hold (purchase a rental income property). Any recommendations for which cities and dates to look into as a starter? Would appreciate the insure. 

For questions about Columbus, press 1.

My Name is David Mancia, and at the end of last year I finally took the plunge and decided to contact RTR to buy my first out of state property, and I was contacted by Ms. Melisa Justice, and she helped me navigate the entire Journey, it was a process not too long, it took about a month, and the process would have been definitely very hard being that I was on a different state by Melissa made it a lot smother, she was very responsive to all my questions (and I had a lot of questions), she helped me find a lender that would fit better for my financial situation, once I was pre-approved she connected me with the right property inspectors, and all through out the process she kept in touch pointing me the right direction all the way until closing day, all this to say I Definitely recommend her for any body the is finally ready to take the plunge and get started with their real estate carrier, I definitely will get in touch with her when I'm ready to buy my next property!

Hello everyone. I am learning a lot about real estate and want to purchase a rental property in my area. My goal is to create financial security for retirement. I am not opposed to making this my primary method of income either. I do like to dream big and put out those vibes into the quantum field. What I am learning, and perhaps another Colorado investor can correct me, is it seems our market is overpriced. If I purchased a home locally I’d have to ask well beyond the market rate on rent just to break even. Doesn’t seem like a feasible plan.

I am okay breaking even as real estate is a tangible asset with growth potential. As a rookie the fear is that I make a horrible purchase which ends up costing me my primary home.

About me, I have been fixing aircraft for over 20 years and this is primary income. I have three children and have been married over 20 years as well. I like following stock markets, cryptocurrency markets and love to travel.

Hey y’all just heard about this community and wanted to utilize it to grow more knowledge in how to have real estate help me with earning passive income.

Hi BP Community!

My wife and I own a single-family home in a top school district. The house is a smaller colonial with 3 beds and 1.5 baths. While the interior is nice, the first-floor kitchen and bath are original from the 1940s. We bought it for $399k, and it's now worth about $650k with $250k equity. We've invested around $50,000 in improvements (central air and hardscaping) and our mortgage is a 30-year fixed at 2.5%, with a PITI of $2400.

We think it could rent for $3,750 - $4,000 per month based on local comps. Our instincts are to eventually rent it and use the income for payment assistance on a new home mortgage. However, with high rates, the next mortgage would be very expensive, and a vacancy would be intensely expensive with two mortgages. It might take at least two years before we can make a substantial down payment on a second home.

We’re considering whether to do mid-grade updates and rent it soon if we can find a good next property though acquisition and ongoing costs are a problem. Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.

Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.

To compare the financial impact over 10-20 years, we want to analyze renting versus flipping. We’re looking for Excel models to compare these options and calculate potential net worth in both scenarios. I am proficient in investing and confident in earning 7-10% returns in the market over the next decade or two. Any guidance would be greatly appreciated!

Also, qualitative ideas would be welcome just conceptually what we should do.

THANK YOU!

We recently purchased our first investment property in Florida with the assistance of Rent to Retirement and I just wanted to say it was a smooth process. Melissa Justice was our investment strategist and she was a true gem. Very quick to reply to all our questions and addressed our concerns in a timely manner.

@Zach Lemaster has a great team and is highly recommended for all your real estate investment needs!!