All Forum Posts by: Account Closed

@Blake Denman - great catch. Thanks

That's good info - thank you @Ivan Barratt

Excellent - Thank you @Nick B.!

@Nick B. I think that is a great strategy.  Do you think that a hybrid strategy may speed things up?  i.e. I buy a rental house this year.  I keep flipping so that I can buy another rental.  I would then have two houses to grow exponentially.  Thoughts?  (And thank you for taking the the time to help a newbie out)

Best, 

-John

@Nick B. Thank you.  That is exactly what I was looking for.  So pretty much I would need to come up with $2.5M approximately correct?  So that is approximately 125 flips of of a 20k average profit.  So if I were to chunk it down - my goal may be to get to 63 flips or so.  This would get me to half the unit size.  It would allow me to maybe get a unit of half that size so $5M instead of $10M and then work on the second one after that.  Now to do 63 flips will be quite the undertaking - so maybe with adding wholesaling in, I can get there quicker. Ok - anyhow this gives   me a clearer picture.  Need to find a way to get to 63 deals of 20k Avg profit (flip or wholesale).

My understanding is that $100 per door was average for rentals after expenses etc.  I'm not too familiar with rentals yet - just want to put some feelers out before I go all gung-ho on it.  Is that incorrect?  Is it $200 not $100?

Thx.

I need some help here.  I am trying to set up a better vision for my investing.  As of now it's just been flipping a house here and there.  I have a pretty good J.O.B. so at this pint its been additional fun money for me.  That has been fine and all but I am ready to get a lot more serious with it and want to set a goal to make 200k per year.

I also would like this to preferably come from "safer" investments - if that even exists.  I want to avoid the classic way in which RE Investors go out - over leveraging.  Rather than over leverage and be surprised by a down turn I figure apartments may fare better.  So if I were to work backwards would it look like this...?

200k in Apartment income = $100 per door = 2,000 apartment units = work on flipping to build enough money start buying apartment units.  Maybe 60+ apartment units at a time.  i.e. Buy a 60 unit, then a 100 unit, 300 unit etc. until I get to 2,000.  I just feel there has to be a better way.  Would syndication or being part of a group i.e. Lifestyles, Brad Somrock etc. make it faster?  Maybe as a sponsor it would reduce the money needed and I could be rewarded more for putting the deals together?

Would it really take that many units to make 200k per year in apartment investing?

I'm sure there are others here that are actually achieving this - would you please help a guy out and chime in?

Best, 

-John

Will someone please recommend a licensed plumber?  I have a couple of items to fix that came up on inspection.

Best, 

-JD

Hi Trevor - thank you for the feedback - I PMd you for some additional info about Carrot

Best, 

-JD

I'm considering putting this on the back of a business card.

Has anyone had this work for them?

I'm not sure how comfortable someone would feel giving a distressed homeowner a card stating that they will be earning $500 from it.

Best,

-JD