All Forum Posts by: Christian Lautenschleger

Thanks, guys! Most of success is showing up.

No, I will not move into it. There are two long-term tenants who occupy the property.

I went under contract for my first property this week! It's a turnkey duplex for which I an unbelievably excited!

I'm moving onto the next stage in my life!

Born in '86 here.

Yeah, I have a BA in poli sci and history (once upon a time, I wanted to attend grad school), and will probably never use it. Although who knows where my life would have went had I majored in finance, it would certainly be more useful than talking about Operation Barbarossa.

Saying that "we can become anything we want to be" is fine, as long as the people to whom it was being told know that it takes real work. I do know some people who feel egregiously entitled, but for the most part, most go with the flow of everyday life and sometimes talk about what they want to become.

Ever since I had an internship in college geared toward local economic development, I've really clicked with entrepreneurship and have only recently really started to take concrete steps.

America could definitely do a much better job getting teens geared for the real world than what it currently does.

@John Thedford Yeah, I think I'm exactly what you're describing. I suppose perfectionism can be a gift and a curse. But it's one of those things that after you do once, you don't experience that paralysis again.

@Rick Baggenstoss I'm not looking to buy to flip, yet. I suppose once I have enough experience that I can value property, and have enough time to flip, I will give it a shot (or better yet, buy if, restore it, and rent it out).

@Shane Johnson Yeah, with that much time for a close, I can't imagine it wouldn't have someone lined up.

One more step closer!

@Wayne Brooks Thanks for the advice! I'm keep the 203 in mind (and something else to research.

@Aaron Ram My apartment complex is full right now, and it's a nice location for a nice price, so I can't imagine it'd be hard to not use that for my advantage. It's at least worth a shot.

Hello BP,

The last few days I've thought of strategies for buying my first property. And this one just came to me yesterday.

Correct me if I'm wrong (if I am, then disregard the rest of the thread), but you CAN buy an four-plex (or du/triplex) with an FHA loan if you take up residency?

If so, what do you know of going that route AND eating the penalty/fine for breaking my current lease (I think it's about ~1,700 and ends Sept. 31 '14; and who knows, I can probably get that lower, somehow) at my apartment (it's a pretty big complex FWIW)? I might be able to save money in the long term, in addition to the learning experience of, well, everything.

What say you, BP?

Thanks,

Christian

What about branding?

If you have hopes to expand, your name will matter (or not, depending, again, on what you want to do).

Although ludicrously long, no one will forget "that company with the really, REALLY long name" of my last name.

Thanks, gentlemen!

So, just starting out for a buy or two will make everything work itself out?

Hello BP,

I realize "just do it" reigns in business, as well as corporate slogans, but I'm having some trouble in deciding what and, more specifically, how to jump in.

I probably have read more about corporate strategy and planning than the actual Xs and Os of REI.Why?Because when I think of a business to start, I think of how to expand it (which is an essential attribute to me).

I understand the basics of buying property, I believe, but I'm trying to wrap my mind how I can do that on a regular basis.I can buy some property this month if I want, but I want to learn how I can do that, and then buy another one ASAP (FWIW, I'm thinking about buying and holding -- renting out -- first, then I may branch out into other REI methods).

How did many of you start and how do you look forward? I don't recall really reading examples how to amass a rental portfolio (although I suppose creative financing can come into plan); from buying one property, doing such and such, and then buying another.

Right now I'm kind of at the point I'm deciding how I want to do things long term.Perhaps I'm thinking too far into the future, but that's how my brain's wired.Do I need to just dive in, or am I on the right track, but need to do more planning.

I'm not at all looking for a get rich quick scheme, but am looking for ideas how to build a business in the planning stage.

Thanks!

-Christian