All Forum Posts by: Jon Kelly

@Harrison Colunga why don't you list some of your strengths and try to make connections? What can you offer other investors? 

Your post lists all negative qualities: "$35k is not a lot," "I have 0 connections," "analysis paralysis," "nervous to start..."  This won't take you very far.

@Kosh Vokter you're a kind hearted individual. You should donate your time or money to as many organizations or groups you feel compelled to. You shouldn't treat your rentals this way. 

I would suggest hiring a property manager or consider investing passively in real estate. 

I'm shocked they missed rent after "guaranteeing" they would pay. That never happens. 

The world might end in 10-50 years, so should you even both getting a job and trying to live a good life? 

Kind of crazy if you let a few people deter you from something you're passionate about because of what COULD happen in 10-50 years... 

@John Anderson I'm confused about the post. What data / stats are you using to make your decision? Sounds like you've been contemplating for 2 years whether or not to build an ADU...

What's the cost to build? How much rent or value will you achieve? 

Create a simple profit / ROI calculation to help with your decision.

Simply ask people what they do for a living. How did they get started? What is working well? What is something they could be doing better? 

People love sharing stories and talking about themselves. This is perfect for someone like you who is trying to soak up as much information as possible. 

Kind of a silly question. 

If/when there's a "crash, recession, etc." prices will drop... that's part of the definition of a crash/recession.  Prices also likely to increase after they drop... 

The real questions should be: how does this impact your investing strategy? is your market(s) being affected? Will you stand on the sidelines and wait for the right time, or are there opportunities out there now? 

@Isaac Bartels I would start in your own backyard. Make the first one (or first several) easy by keeping it within driving distance

@Henry Ramm you will need to price it at a discount if you want to sell a rental $500/mo under market rent... 

I would increase rents and refinance. 

@Moises Guerra Garcia everything in real estate is negotiable until you sign on the dotted line and transfer keys. 

You have every right to go back and try to reduce the purchase price. The seller has every right to refuse. 

If you offer a $13.2k reduction the seller will likely try to cut it in half and say the asking price already factored most of the repairs into the price. It's worth a shot though

@Cameron Biggs you can BRRRR in Cleveland. you can BRRRR in Cincinnati. you can BRRRR in Columbus. you can BRRRR in Toledo. you can BRRRR in Dayton.

You can BRRRR anywhere...

Most important thing is the purchase price. Find motivated sellers and find good deals!