All Forum Posts by: Jessie Dillon

if cashflow is the goal, then a) choose a market to invest in that's cashflow-heavy, first and foremost. 

note: living in a property for a year doesn't necessarily build equity. your principle paydown year 1 ain't much & if the market dips a bit, you could have no or negative equity at the end of y1. just something to consider.

note: appreciation in general is speculation. we can make educated guesses on what's going to happen, based on what HAS happened, but this isn't the 'perk of RE investing' to focus on when you know your goal is cashflow. ignore appreciation for now.

if the goal is cashflow, why not just start with a rental? skip the primary home for now. can you buy a cashflowing multifamily ANYWHERE in the us? 

a less-experienced investor is more likely to be flexible with terms or want to come to them together. someone with more experience i'd think would already have a set of terms that works best for them and their deals. 8-12% annual interest seems to be the most common range. the security of lending to someone with more experience usually comes with a lower rate, vice versa. if you have someone you want to lend to, just ask! and i'd probably use an attorney at least for your first one.

hi! i'm a long distance investor with 13 units in chicago. i love the bp real estate podcast, 2nd is the wiire podcast, 3rd would be the bp real estate rookie podcast. for books i've pretty much stuck with the bp books also. 

if it's already gone to auction, it might be too late. it's a complicated process to try to get the bank to back out of that. and as the other commenter said, all owners have to be totally on board with your plan. not only are most sellers not down for creative financing, but those being foreclosed on are typically even less cooperative (i realize that makes no sense, just how it is), and divorced couples even LESS. i think you're putting the cart before the horse here in looking for a TC. for future deals, you can find a TC in pace morby's fb group. 

hi tyler! welcome! i'm also a house-hacker; big fan. and i invest long distance in illinois, too! not sure if he works in your area but the agent i've been using in chicago is jack petrando with kiser group and i've had nothing but great experiences with him! highly recommend. 

agree with the other comment, different markets are doing different things. also, "be greedy when others are fearful." what people might be afraid of is, lots of commercial ARMs coming up on their rate adjustments, & the new rates (compared to 5y ago when they first purchased) will kill their cashflow, so they'll sell, and if everyone is doing this at once, supply might outweigh demand, everyone has to sell for less than they planned, and everyone who hangs on to their similar properties gets to recalculate their estimated mkt value with the new going cap rates. i don't personally think this is going to cause as insane of a shift as some people do, but it's all speculative, we won't know til it happens. if you can find a deal that pencils with 30y fixed debt, do it. 

welcome, kevin! keep us posted on anything in particular you need help with as you get going!

appreciation is a hell of a lot more speculative than cashflow, keep that in mind. yes we can make educated guesses on what's going to happen, based on what HAS happened, but still. why buy a property that loses money when you could instead buy something that makes money? 

you've got a lotttt to pick from! many of the higher cashflow cities are in the midwest. try to find a map showing the highest average cap rates for multifamily around the country & start looking in the areas with the higher ones. :)

this price point is too high for MOST wholesalers and MOST flippers, but i actually know one company that would buy it as is, feel free to dm me with your contact info & i can connect you two :)