All Forum Posts by: Joshua D.

My oldest property is from 1909. Really old for Montana!  But after initial 20k investment of new windows and flooring und updating all the old knob and tube wiring.  it's been a great place.  Paid 84k for it and rented the main house for $1400 a month. And the small back house for $775. Total of $2175 a month fr 105k investment! 

@James Wise

I am not an agent... But here in Montana agents are so happy to have an out of state person call because the are selling their California houses in droves and moving here. They are buying up all our 350-700k homes. (Usually that price point was harder to sell)

So here, my understanding is that agents love these out of state sight unseen buyers. No showings and full price offers.

Sitting in church this morning and we have 5 families who have moved here from California this summer. For a town of 3000 that's a big deal. And those are just the ones in church... This is a crazy time for Montana.

@Monica C.

So far I think my 9th flip has earned the highest income per time ratio. Little over $2000 an hour. I don't even think my rentals beat that ...

@Theresa Reynolds

These trailers can be great cash cows! We have 3 of them in our portfolio. They rent for about $1000 a month and we have picked the up for 50-70k. Course mine are all mid 90s or newer....

I like what @John Morgan said. This stuff really is so simple. Don’t over complicate it.   If I was you I would figure out how to do it with as few doors as possible. That means you need to find 4 or 5 great deals in the next 5 years. So 1 deal a year.   That’s a lot of time to hunt fir something good. Keep educating yourself and Hunt, hunt, hunt! 

Also have good buying power! 

If I was you I would figure out how to quickly save 10k. I absolutely love no money down investing but that does NOT mean you should buy property with no money! Broke people should not own realestate.   Pick up 2 extra jobs, move to a cheaper (or free) housing situation and live like a pauper (this is temporary sacrifice for Massive long term gains). 

While you are working build a relationship with the best agent in town and tell her what you are trying to do. Low money down house hack. 

Make sure you have listened to at least 100 podcast episodes and internalize the information. It helps when things get tough. 

Good luck to you! You CAN do this it just takes sacrifice. 

@Anthony Riddick

Well... In today's current market, I would recommend door knocking combined with driving for dollars. It's probably the best way to streach those dollars as well as more likely to find a deal the mailers or FB advertising.

@Gino Tomba

I just paid $1800 to update my 2 meter box last fall in a low cost of living area.

Those boxes as well as wiring prices have gone up significantly since then.

@Shivam Patel

Don't refinance into an investment loan! Listen to Steve...

If you talk to a lender they may tell you you need to redo into "an investment loan" so the make a commission. Just wait the year.

@Linda Thomas

Don't be cheap... Hire a contractor if your not comfortable with how these people chose to live.