All Forum Posts by: Jordan Thibodeau

@Robert Tropp

 If you need a referral send me a PM with your email.

@Account Closed

 I <3 you, it's been far too long since I've seen your beautiful face in person. 

@Sandra Ayesh

 Welcome Aboard! I suggest you upload a pic so I know im not talking to a FBI informent, because I don't work with snitches!

Mentor Guide. 

@Heather Thompson

 Hola Heather! I used to have a CPA, but he billed me $500 because I proved him wrong on IRS tax guidelines (>.>). So I promptly fired him.

I found Marry Walker. She's not a CPA, but she's worked with numerous real estate LLCs and partnerships. She taught me a lot about real estate taxes, forming partnerships and etc. She's prepared my taxes for a year, and I've been extremely happy.

Let me know if you want a formal intro, if so PM me your personal email address.

@Ryan Pemberton

 wow that sounds great.

Are you thinking about buying the entire property? Or buying only a few?

Sounds like she wants to travel and be free of this. Did you ask her about what types of financing she's interested in? Are all of the houses paid off?

What's your cash position? Would you be able to buy all the houses yourself? Would she be willing to carry any of the paper?

@Jeffrey Sherman

 First of all congrats on the kid. I suggest you name the second Jordan, it's a great unisex name.

The property management's company's interests conflict with yours. They want you out, so they can collect their 10% of gross rents. I would do your own market survey via zillow, trulia, rentometer, and you can also put up your own ads to see if anyone would nibble at those prices.

Hot markets scare me. If you sell your house, and then buy another one of comparable value and build at these inflated prices, I don't really see any net benefit for your family because now you might have a higher mortgage payment at an inflated price. 

Also, don't think in terms of prices, think in terms of CAP rates when you buy your next investment property. And if you buy a new house, determine how much you could earn if you rented it out.

I would probably sit tight.

@Jose Alonso

 Hi Jose. Have you managed tenants before?

One of the advantages of living in your first duplex is that you are close to your tenant so you can keep an eye on your investment and learn how to become a property manager with one tenant before jumping into managing two families.

Also, what are your cash flow goals? Will the $125k property cash flow more than the $300k?

What type of area is the $125k property? And how close is it to you?

Hi Everyone,

My name is Jordan Thibodeau, I'm a blogger at BP, and I was on BP podcast show 74.

I'm looking for multi family properties in the Sacramento Area.

My Strategy: I buy and managed duplexes in the area surrounding UOP law school, uc Davis med area, and north east of the Sacramento airport. I like investing in middle income areas. I purchased properties that I can add value to via repairs and curb appeal enhancements. 

Entry Criteria: 25% down. Must be able to add value through genera repairs and curb appeal enhancements. The units must have above average square footage. Must cash flow at least $200 per unit within 3 years. 

Price: I'm not spending more than $250k for a duplex in Sacramento.

What I Promise You: If you send me a deal that fits my criteria, I will respond to your lead within the same day so long as your lead meets the aforementioned requirements.

If you bring me a deal, I promise I will complete the transaction with you and I will NOT pressure you to lower your commission or finders fee. 

If the deal meets my criteria, I will close, and I WILL NOT ask for no money down financing. 

How Can I Contact Jordan: Send me a BP message.

@Adrian Hunt

 Keep studying and saving. $5k is not enough to get involved in buy and hold.

@Cody Kauzlarich

 Can you elaborate on the 401k? Are you maxing it out? If not, you should think about it.

I would certainly retire the student loan debt. Also, can you edit your original post and add some line spaces for paragraphs, it will make it easier on the eyes.

Are we talking ghost busters slimer scary? Or poltergeist scary? If the former, np. If latter you need an old priest and a young priest.