All Forum Posts by: Lee Judd

@Jacob Thompson you better be asking what does your wife want? If she doesn't want to sell than there is your answer. Is she willing to invest along side of you? Is she willing to go through the ups and downs with you. My wife is fine with me investing but it doesn't excite her. I had to have her a house before I took any money and put into real estate investments.

@Ryan Copeland congrats! Who says setting goals doesn't work!

Look for local mortgage brokers and talk to them. Find one you like and go to work for them. They will help you get licensed. 

HAHA maybe thats where I got that from. Heard him talk on podcast but haven't read his book. 

Congrats! Sounds like you are off to a great start on your goal.

Find someone that will hold you accountable to start taking action and set a penalty if you don't. Use this to motivate yourself. Mental game is hard. Good luck.

What is your goal here? Based on your analysis you will be putting money into this every month. 1% rule would have the sale price at $110k. Will seller go that low? If your ARV is correct are you better off fixing it as selling?

5% vacancy may be low and 50% rule only leaves you $78. This one looks pretty thin to me. This may work for you but I would keep looking. Good luck.

Let us know how it works out.

That is an option for you as well if you can get it subdivided. Cost you a little more to do that. Why don't you see if he will a master lease or seller finance on a wrap around contract? Manage the property for a while and then refinance.