All Forum Posts by: Kimberly Keesler

My great grandma left me & my mom a SFH, which I renovated and rented out to tenants - but when my parents wanted to sell and "enjoy the money" I took my share and went right into MFs. I did it because an investor I spoke to made me feel like there was less risk. With a SFH you're reliant on that one tenant. But in a MF you have 2 or 4 (or more, but I was starting small) and it just seemed a better way to balance the risk.

I bought my first duplex at 41, second at 42 and I'm 43 now and am trying to acquire my 3rd (just put an offer in on a 4 unit multi).  Sure it may take me longer than had I started at 25 but I don't care.  The advantage I see to starting later in life is I have more life experience (i've been in sales my whole life so I find negotiating, evaluating deals comes naturally) and i also have more motivation to get out of the day job.  I really don't think it matters when you start, as long as you start. 

Thanks everyone, this was really helpful

Does anyone know if a person qualifies for a certain tax break if they sell corporate stock but immediatly turn around and buy a piece of real estate for investment purposes?  Is there a way to do this (legally of course) and not pay the capital gains tax if you're just turning around and investing the money 

@Jonathan Jewell  I also always put in a financial contingency just to be safe. 

I've done option 1) twice.  Gotten under contract and then when I had the appraisal and inspection asked for a lower price.  Both times the seller agreed and my most recent time I got $10K off the asking price.  

If you don't want to have a property manager, then I would at least make sure you build up a team of reliable "on call" folks (handymen, plumbers, etc) that you can use when things break.  Which they will. 

Hi @Account Closed

I live in San Francisco and I currently invest in Phoenix.  One because my brother & his family live down there, and two because a good friend of my brother is an investor & realtor in the Phoenix area himself.  So I go down to visit family and then mix in my real estate ventures.

I have one duplex so far and this week I'm making an offer on two others.  I say if you can find a market where you have someone you trust / reason to go visit that's a good start

Hi @Sean Carroll, the duplex is in Glendale. 

Hi there,

I'm looking for a hard money lender that comes recommended, for my 3rd buy & hold.  This will be the first one I do that doesn't qualify for conventional financing.  it's a duplex, purchase price is $85K will need about $35K in renovations.  Me and my partner have about $80K to put down but I'd like to have a bit of a cushion.   Looking to borrow $85K over 8 to 12 months

Please let me know if you have any hard money lenders you recommend or PM me.

thanks!

Kimberly