All Forum Posts by: Jeremy Willis

@Chris Seveney

I have 7k saved which I could cover a modest capital expense. By the end of the year that will be 16k. That could be my 5% or my emergency money. I gave myself till December to take action.

@Chris Seveney

Duplex requires at least 5% down. My credit union won’t do a no money down loan for a Duplex. I’m wondering now that down payment negates it having to be a primary residence. That was brought up in the context of our no money down conversation leading me to assume it fell in to the same set of rules.

Need creative ideas people. My end goal is to own multiplex units for cash flow. I need to start out small. Currently I have no money for a down payment. My credit union will do a no money down loan with no PMI which is great. Only catch is that it has to be a primary residence.

That completely changes how I was running my numbers...and really the whole starting out plan. I understand the room rental strategy. Anyone else have creative ideas that I’m not considering?

@Joe Prillaman

Thank you for posting your story! I want to achieve the way you have. Did you keep a job while you did this? Any advice for a completely new and ignorant person such as myself?

Hello everyone, I’m super excited to be here. A quick bio about me: I’m 40, work in waste water, want to leave the rat race, and I will achieve my goal. My goal is property that gives my cash flow...multi plex units are my end goal.

Currently, I’ve decided to use the calculator to teach myself about assessing property. I want to get familiar with that process. Zillow gives average monthly tax rates, but I want to teach myself to do that so I’m not limiting myself to rely on other people’s work. How can I do this?

I have visited the county assessors site but my lack of experience is holding me back.

@Nathan G.

It’s my plan to start with a duplex and rent both units. I have a good job and a good living situation right now.

The end goal is to be financially independent and out of the rat race. I have reversed my goals/steps but each step needs detail. Multiplex units are where I want to be eventually.

@Frank Patalano

Thank you for responding! My credit is great, my job is a very good one, I’m single, no kids, and I’m debt free.

Also, I must be missing a feature for this app. I had to scroll in my phone for quite some time to get to your reply. Is that just a bad app feature?

@Robert Higdon

Just watched a BP video about that. I will become systematic in my approaches!

@Jake Stuttgen

Thank you. Team building is a theme I hear very often. What I’m unsure of is how much that costs generally speaking? I’m working from a very tight budget from my perspective. I understand fully that a team is an investment.

@Frank Patalano

Literally everything is holding me back. I know next to nothing. I have, however, decided to become a real estate investor for cash flow. I think a good first start would be a duplex purchase. I have very little money to put down.

Where can I go/what can I do to better educate myself? Should I form a corporation for tax benefits? Would that change the kind of loan and interest? This would be a first time ever purchase. I rent my friends basement.