All Forum Posts by: Jon Kelly

If the options are (1) do nothing or (2) follow Dave Ramsey, then following Dave Ramsey is a good option. However, in real estate the same principals don't necessarily apply. Leverage is key for growth and experience for so many investors 

@Victor Oben Certainly a red flag and worth understanding why they fell through each time, but doesn't necessarily mean you should walk away from it. You may be able to purchase the property at a nice discount if the sellers are desperate to find a buyer 

@Romeo Sison 

Depends on what you want to do. I agree w/ @Eric James, the degrees would look good for a corporate job. If you're interesting in starting your own REI journey, you can likely get more information and network on Bigger Pockets than any undergrad program can offer

@Andrew Shelton What's more important to you: obtaining financial freedom quicker or more enjoyable living situation? 

Why buy a condo? Rent a 2-bedroom for $2,300. I'm just assuming that's the price of a 2-bed if a 1-bed is $1,775. You'll save $200/mo and have $50k to invest (as opposed to $26k). 

Or, buy a property that needs some work. With a little sweat equity you can build equity quicker. 

Lots of options and you can't really go wrong. If you're committed to your goal of financial freedom, you'll find a way to make it work. 

@Antonio Cucciniello when it doubt, trust your gut feeling 

@Jake Peetz everyone has their preference when choosing more or less leverage. You have to make the decision what would be most beneficial to you, $50/mo cash flow and $10k or $150/mo cash flow and only $5k. I would personally choose $50/mo and $10k. Despite the low cash flow you still have a great deal. You have no cash in the deal, your net worth increases by the amount of equity in the property, you earn $50/mo and you have cash to fund another deal. 

@Tyler Williams 1. Have cash or access to cash from others (people/lenders) 2. Find properties that meet your criteria, 3. Make offers. 

Sounds like you make a strong income, so continue working and saving for your first purchase and you'll be well on your way! 

What's often thought of as impossible becomes possible through belief and action. Stretch goals are important to so many because it takes them out of their comfort zone and expands their mind on what could be possible.

@Will Fraser Great information, I really appreciate the insights. It sounds like the 12-unit and 20-unit should open up many doors in the future. Good luck! 

@Nitin John Abraham 1. commercial loan, 2. a blanket mortgage, 3. a portfolio loan