All Forum Posts by: JD Morris

The meeting I go to is in Spartanburg at Denny’s on rt 296 every Wednesday morning. I’m not sure if they are an official group or not. But it has been extremely helpful!

Thank you very much. We own our home and have been fortunate enough to build quite a bit of equity in it. I guess my thought was that I want to be able to pay the mortgage of our rental property with the income I make from my current job so that if I had vacancy for over a month, I could still afford to pay that mortgage on my own. But at some point, if I continue to buy more rentals, I would not be able to afford all of those mortgage payments without income produced from at least some of them. It sounds like as long as I make sure to get the right deal on the front end, and put some of the income from those properties away to account for vacancies, I should be ok.

Hey everyone, I am trying to set some goals for myself for acquiring rental properties and I am wondering how fast I should go. I will have to finance every property I buy. I want to focus on rentals and not flips or wholesaling. At what point am I over leveraged? Should I only finance what I can afford to pay for assuming I made zero income from rentals? Or is it ok to finance more than that?

Hey everyone, JD Morris here. I’m brand new to BP and brand new to the idea of real estate investing! My goals are to invest for retirement and possibly extra cash flow for our family along the way. I’m a youth pastor and I love my job. So I have no plans to do this as a career. But given the nature of my job, we haven’t really been able to put anything back for retirement and the word investment is just now entering my vocabulary at age 35. So I have some catching up to do. But I’m excited! I have already connected with a local investors group and have found a couple mentors who are helping me. I’ve also been listening to the BP podcast and have read a couple of Brandon’s books about investing in rentals. I’m currently learning/practicing how to analyze property and my first goal is to purchase my first property by the end of January. My second goal is to get 3-5 doors by the end of 2018. Not sure how doable that is but I’m aiming for that and will adjust if necessary. Thanks for reading! Any advice is welcomed!