All Forum Posts by: Johnathon Kim

@Account Closed I was self-employed for the past 2 years and had a good amount of losses to report. But I just started a job as a W2 employee this year!

@Rick Taldykin Ahh I see. Thank you for that information! When approaching a new lender for a commercial loan, should you already have a deal ready to show them? Or would you begin the conversation with them earlier?

@Rick Taldykin Interesting! Are you talking about commercial loans? And if so, would that mean I should be going multifamily properties as opposed to SFR?

@Account Closed I'm looking to invest in Indianapolis!

@Chris Mason Understood – thank you so much for your help Chris!

Hello!

I'm brand new to investing in real estate and my goal for 2020 is to 1) learn as much about REI as possible and 2) put my first SFR that cash flows $200+ per month under contract.

After weeks of analysis paralysis, I finally decided to pick Indianapolis as my market of choice, but I'm getting stuck again trying to pick a neighborhood.. 

I'm from California, so I'm looking for a neighborhood that's not so "block-by-block". Probably A-B neighborhoods. Are there any neighborhoods or zip you more experienced investors would recommend I should stick to? I'm thinking Fishers or Irvington at the moment.

Thanks so much!

Hey everyone,

I'm looking to purchase my first rental property by the end of this year, but I don't qualify for traditional lending (I have a 750 credit score, but my last 2 years of tax returns look terrible). 

I'm thinking my best bet is finding a seller-financed deal since the due diligence process isn't as strict as the bank's.

My question is: Do seller financers usually ask to see tax returns as well?

And if they do, are there any other strategies I can use to finance my first deal?

@Account Closed Thanks so much for your advice. I'll go check out the areas and narrow all of my options down to one market.

Thanks so much for the advice everyone. Really appreciate you taking the time to help me out!!

@Corey Hawkinson Gotcha – I'll do my best to stay focused on that first property.. I have a tendency to plan too far into the future before even getting started, so thank you for reminding me of that.

@Jack Dalrymple Thank you for your insights! It definitely sounds like any goal can be realistic depending on how fast/slow I'm willing to go. I'm leaning heavily towards cash-flow.. but with the amount of liquid capital I have the only markets that make sense for me are long-distance (I live in southern CA). Do you think going long-distance is a bad idea for my first property? I've heard lots of mixed opinions on this topic.

@Taylor L. I'm definitely sitting on my hands and it's killing me haha! Like I said above, the only markets that seem to make sense for the amount of capital I have are long-distance, and I guess what's stopping me from moving forward is a fear of choosing the wrong market (basically analysis paralysis). Is there a "next step" you'd recommend I should take to get me closer to purchasing that first property?

Hi everyone! This is my first post here on Bigger Pockets – I'm excited to join the community!

I'm just getting started with real estate investing and like many other beginners, I'm feeling pretty lost. 

I've defined a goal for myself, but I'd love to hear your opinions on how realistic my goal actually is.

I'm thinking I can live very comfortably with $5,000/mo in cash flow.

If I want to achieve that in 10 years, I'll need to purchase one cash-flowing property every 5 months or so (given that it cash flows $200/mo).

Of course, this is a "perfect case" scenario and it probably won't turn out as pretty as this. But do you think this is a realistic goal to aim for?

I'm also hearing lots of different opinions on cash-flow vs net worth (i.e. buy cash flowing properties VS buy for appreciation & then consolidate to a MFH later, etc). 

Any advice and/or critiques would be much appreciated!

Thanks so much in advance!