All Forum Posts by: Jason Rowlett

Thank you, both. I'll check into how fast those parcels are selling. I'll approach with caution but like Dan I was thinking of starting out with this as a method by which to build up capital to purchase rental properties. 

Thanks!

J

I am considering buying some parcels of land near a lake which are approx. 0.3-0.4 acres apiece priced at $4,000.00 apiece ($149.00/mo). However, the land is not cleared. Clearing the land is something I am willing to do myself and then sell to a homebuilder for a profit. Nearby "cleared" parcels are  selling for $15k-20k per parcel without water and septic. I am still looking into city codes regarding building to see if anything might deter a buyer. My plan would be to buy one parcel, clear the land, flip it to a homebuilder and then repeat.

• Might this be a wise way to build up cash reserves as I am getting started?
• Is "flipping land" common among successful RE investors?
• What variables would a successful investor consider in this opportunity?

Thanks!

Hello! I am a new investor in Austin, Texas, with an occupied condo in California. I currently work as a field sales rep and would like to keep my personal income separate from the income I make on my rental. My condo is currently worth $300k (I bought it for $200k two years ago and now owe $132k). It rents for $1600/mo with $1370/mo expenses, profiting $230/mo.

How do I start from here to build a portfolio of properties? How can I leverage the condo as a separate enterprise to invest in more real estate? Should I take an equity line and reinvest that way?

Thank you!

JD

Thank you all, this is very good. My fiancé and I were talking about future finances and I am thinking of setting up my condo (and future properties) as an LLC. We have decided to keep our personal incomes separate from this rental income. I will treat it like a business.

How could I grow my "real estate company" as a separate income stream starting with my one single condo? What would you recommend for building a real estate portfolio with one property worth $300k and a debt of $132? Borrow against the debt and purchase, say, 3-4 homes and let the rental income pay those mortgages?

Thanks again for helping a rookie!

JD

Hello,

I am a new investor with an occupied condo in California. It is currently worth $300k - I purchased it for $200k two years ago. I have since moved to Texas and I am looking for a primary residence in Austin. The condo lets for $1600/mo and my mortgage and other expenses total $1370 leaving me $230 in the black each month. The current mortgage balance is $132k.

Should I sell my condo and put a large down payment on a new home OR should I hold onto the condo and borrow against it?

My long term goal is to build a real estate empire consisting of both residential and commercial properties. I am leaning toward holding onto the condo to that end.

Thanks for your good advice!

JD

Thank you, @Garrett H., @Arnell Enriquez! I'm happy to be here and learn from you and others. 

Hello, My name is J.D. Rowlett and I am from Austin, TX. I am a relatively new investor with a rented condo in California. I am currently looking for a primary residence in Austin and to start building my real estate empire thereafter. My future portfolio will consist of residential and commercial properties and I am always seeking advice from folks who are wiser than I. Glad to have BP!