All Forum Posts by: Josh Gevedon

James DeRoest how do I convince the wife to sell our child? How much equity do you think I would have in a 4 year old? No but seriously you all have some great advice. Also love hearing the tough love! The car debt was a purchase we made before the real estate dream came into frame so I definitely need to come up with a solution for it. After all, I have been reading that in real estate you have to be a problem solver. Off to the drawing board we go.

@Christopher Brainard you are correct! A lot of responses with all kinds of strategies. I love it though! I enjoy hearing what has worked for you guys. I think maybe it comes down to your personality. Me personally am conservative and would more than likely take a slow approach to my first deal. I want to be 100% confident in my first investment and have no unanswered questions.

My wife and I have decent jobs that we enjoy so we are not looking to take the investing world by storm. However we are 100% committed to having a very successful first flip. 

@Randy E. Thank you for your response! I would be looking at a combination of a bank loan and some personal money. At least in my head this is what I am considering. I was actually wanting to head over to the bank and get pre approved. Kind of cool that I am on the same page as you in that regard.

Once again thank you for your response, I appreciate it

@Joseph Sherer our car payments are about $550 out of about a $4500 per month income. We also have a 950 mortgage and daycare at about 550. Those are our biggest expenses. I probably am just over analyzing which is a habit I probably will need to work on to be successful in flipping.

This forum is amazing! I love the different perspectives on this topic. The car loans are not a burden to us, its more of the simple fact that it is car debt. Then again we are still very new to the real estate investing world and this was just something that was weighing on me.

Thank you guys for your responses!

 So I feel like when my wife and I are ready to make our first investment happen that I will have this thought in the back of my head like "what am I doing? I still have debt on 2 vehicles and a mortgage."

How do you overcome this or should we wait until the vehicles are paid for?

By the way we are looking to flip a property when this time comes.

Thanks everyone for the positive remarks and the helpful information!

@James Wilcox you say I could potentially lose money on our first flip. What are some tips to avoid this scenario? Also, I am not sure what the SCORE program is. Could you expand on this? I would also LOVE to have a meeting with a mentor. Just trying to develop some relationships right now to make this happen.  

Congratulations! I am always reading from the seasoned pros that you have to always be taking the next step and you are doing just that! Good luck to you!

Hello everyone! 

Two rookies here (my wife and I) wanting to educate ourselves in the area of flipping distressed properties. This is our first post and what we feel is a step in the right direction to one day making that first investment purchase.

We live in Lexington KY and would focus our efforts here. If anyone has experience here, we would absolutely love the opportunity to speak with you and gain insight in the flipping business.

Have a great day and be on the look out for more posts from us. (We have ALOT of questions)