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All Forum Posts by: Anthony Gayden

Anthony Gayden has started 77 posts and replied 1981 times.

Post: Advice on possible flip on busy 4 lane

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
Originally posted by @Gena Mueller:

We have an opportunity to purchase a home that has not gone on the MLS yet. It's in horrible disrepair and the realtor doesn't even want to go inside. Rumor has it that it has a bedbug infestation. In addition, it is on a busy 4 lane road and traffic is quite loud. On the plus side we can purchase it for about 20k. At this point I am unsure of rehab costs since we have not been inside the property. We are fairly new investors having flipped 3 properties. Is this a deal that you would pursue? Don't want to waste time on something if being on a busy street would be detrimental to resale of the property. TIA for any helpful insight you might have!

 I personally would not pursue it. The busy street will make it less valuable than the comps that are nearby. That means it will be difficult to determine your profit.

Post: Do you really need to get out of the Rat Race to be successful?

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
Vijaianand Thirnageswaram I love my career. It is something that I am very passionate about and took me years of hard work to achieve. I am paid a decent income and with benefits it would take a lot of money to replace it. I don't want to leave my career to invest full-time. Keeping that in mind, real estate is still a business for me that produces significant cash flow.

Post: DIY or farm it out? An informal poll.

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
I did demo, paint, flooring, light fixtures, and replaced the toilet. I contracted out roof, siding, gutters, drywall, framing. While I saved thousands by doing work myself I will say that I am way slower than contractors. Not only that but I made mistakes that wasted time.

Post: How can I get started with little to no money down?!

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
I house hacked a 4 plex. I put 3.5% down and used an FHA loan. I borrowed the entire down payment from my TSP (401k equivalent) by using a TSP loan. The result was no money out of pocket.

Post: How many units do you own?

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
I own two 4-plex properties and two single family homes. 10 units total. I am looking to buy one property per year and I am on track having started in 2014. I used practically every beginner strategy to acquire these properties. House hacking with FHA, 401k loans, live-in flip, BRRRR. My next property will be purchased using a line of credit from my primary residence.

Post: Are investors pricing out the low and middle class in DC??

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
Originally posted by @Rhonda Harrison:
DC is a tough market for first time low income homebuyers and increasingly so for those in the middle class. What are your thoughts on the impact of investors buying properties and selling them and price points too high for the low and middle class? Are we displacing hard working families? Are we making homeownership more difficult for middle class people to achieve? Thoughts?

 I know this topic is about DC, but I have heard similar arguments with concern to areas all over the US.

I do not believe that investors are to blame for displacing working families. The reason the prices are high has to do with simple supply and demand. As an investor, I do not set the price or the value of a property. The market sets the value. I simply work to add value to a property by improving it, and then I realize those profits.

Post: How many hours of sleep do you get?

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310

@Naftali Tolibas

I try to get 5-6 hours on weekdays and 7-8 on weekends.

Part of my issue has been that I work 11-12 hours a day, I work out at the gym every day, and I am trying to maintain a healthy relationship with my fiancé. I made the decision to sacrifice sleep, at least on weekdays, in order to accomplish my personal goals.

Post: Cultural Differences and Diversity

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
Christopher K. Anderson Jr. The great thing about real estate is that it can work for anyone. I think that the lessons learned on the podcast are relevant regardless of ones background. Still I would love to see more black investors on the podcast. It's motivating for me personally.

Post: Investing in Kansas and Nebraska

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
Originally posted by @Amy Acuna:
My husband and I are out of state investors looking to purchase income properties in Nebraska and Kansas. We are wondering what the locals consider to be the best school districts and areas to invest in. We’ve done some online research but I’d like to hear from people who actually live in these places. I’d also love some referrals for agents who work with investors. Thanks!

 I am originally from Kansas and I now live in Nebraska. I have owned real estate in both states. In Kansas I know the KC area. In Nebraska I am learning the Omaha area. Both are great markets. 

Still the question I have for you is what kind of investing are you looking to do? I focus primarily on C class areas and properties. I could tell you the best school districts, but often these might not be the best areas to invest depending on what you are looking to accomplish.

Post: Banks are only offering commercial loans on my 2 family refinance

Anthony Gayden
Posted
  • Rental Property Investor
  • Omaha, NE
  • Posts 2,030
  • Votes 3,310
Paul DeSilva Do you own the property under an LLC? If that is the case, it is the reason why banks will only lend to you with commercial financing.