All Forum Posts by: Jordan Thibodeau

@Adam Haman  Thanks man. Enjoy your break and keep us posted.

Do you know why the building is 50% occupied? Do you have a plan to rent out the other units? Have you worked out a pro forma to show what your debt coverage ratio would be if the duplex is close to fully rented? If so, by showing your plan to a potential lender that could help you reach your goal of loan approval.

Hi @Account Closed !

By knowing yourself, you increase the probably of your reaching your true potential, while it's not a Re book. I suggest you read Fooled by Randomness. We all find ourselves falling into mental traps that can lead to RE disaster, this book is a must read.

Also, Great By Choice.

Finally, HOLD: How to FIND, BUY, and manage RE.

What happens if you can't rent the property right away? What happens if you have unforeseen maintenance costs? 

20 to 25% cap rate? What area are these properties located in? Also, what's the condition of these properties? Being that you have 100-120k in wealth, I would try to invest in properties that are in good areas and have high curb appeal. While the 20-25% cap rate properties look appealing, it masks the problems associated with buying a property so cheaply (Unforeseen maintenance costs, tenant turn over, and etc).

HI Hattie! Sorry, my reading comp is low, what type of RE investing do you plan to do?

IF you told me you are a buy and hold, I would say, go  preview 50 homes then preview another 50 homes. Im glad that you are prepared, that's excellent, but you need to find a deal first that meets your criteria and then pull the trigger so you can start stress testing your systems with real market data.

Also, RE investing can be subjective, everyone as their own bias. It's your job to find your own niche.

ERR Readbeacon.com

Previewed 100+ homes and eventually landed on duplexes. Liked the idea of starting with a small multifamily so I could hone my property management skills, build a support network, and being able to diversify my rental income with two units instead of one. Risking 100% vacancy is not fun.

Welcome to Bp! I was in the same boat. I decided to invest in norcal. I would read the articles on the blog and check out the podcasts.

https://biggerpockets.mysmartmove.com/