All Forum Posts by: Jessie Dillon

@John Sayers see my response to steven ^^

@Richard Ibeh see my response to steven ^^

@Gregory Reid see my reply to steven ^^

@Steven Rosenfeld for sure! i invest via 50/50 partnerships. i find/coordinate/manage the deal, and my partner brings the capital to the deal & approves large expenses. on their end, it's just about as hands-off as investing in a syndication, but they get to be one of just two main 50/50 decision-makers. and when there are just two parties involved in a deal like this, vs it being diluted across tons of investors, i find it's also possible for the capital partner to see much higher returns. when it comes to teaming up in real estate i'm much more relationship-based and less transactional. i'd rather do fewer very high-quality, carefully selected deals, each with just one capital partner, so that i can really serve that person's best interests and get us amazing results, vs. doing a bunch of diluted deals. i also feel a lot of syndicators out there are newer to the game, lack experience, haven't used their own money enough, and don't use their investors' dollars with enough caution. it gives the high quality syndicators a bad name.

thanks!

tons of people live off rental income, but here's the thing, as you suspect:

- it's REALLY HARD (not impossible) to achieve this in just a few years, unless your cost of living is like next to nothing.

- consider investing out of state if your local market is not cashflow-strong.

- set your 'living off rental income' financial goal to ~2x what you actually spend every month, just in case. i wouldn't let go of my other income streams until that point, but that's a personal comfort level.

- if you CAN live off other active income, you can keep reinvesting your rental income and build wealth faster. david green preaches this on the podcast a lot: find a job you aren't trying to get away from.

it'd be weird if you WEREN'T terrified!! i lost so much sleep during closing on my first property, and even after we closed, because 'i didn't know what i didn't know.' but i guarantee you've done way more homework than you give yourself credit for; you know more than enough to get started, you can do this!! and no matter HOW MUCH homework you did, there WILL be curveballs. it's not if, it's when. stuff will come up that throws a wrench in your plans + your job as an investor is to roll with the punches, stay calm, and figure it out. also keep in mind: the worst case scenario is NEVER THAT BAD!

depends on your comfort levels and personal investing goals!

some people are more comfortable with as little leverage as possible, and others are comfortable with a lot of debt.

some people would rather have a lot of real estate appreciating for them, but not cashflowing as much (the refi option you talked about), and others would rather have fewer properties that cashflow more.

keep in mind what the current rates will do to your cashflow if you do refi.

hope this helps!

DM ing you!

one of the newer BP podcast episodes is about a girl from jamaica who dealt with the roadblock of not being a US citizen; great episode and would be super inspiring if you're also dealing with that!