All Forum Posts by: Chris L.

Steven,

What are your goals? You have not addressed what you want to accomplish. How are you paying your living expenses now? Until we know more about your situation, I would find it difficult to give you good advice.

Have a great weekend.

Chris

Hi Jharmaine,

When you pool money for real estate investing, you will fall under SEC guidelines and you will need to consult a real estate attorney to ensure that you are compliant.

Research syndication in the search column to look up other threads on this topic.

Good luck,

Chris

Hi Vince,

Welcome to BP as well. I hope that one day you will look back at your misfortune in your career and realize that they did you a favor.

I wish you the best and would be happy to assist in any manner that I am able.

Have a great day.

Chris

Stephen,

Welcome to BP. It sounds like you have a good plan to get your debt paid down while you are learning. This is the place to be to learn about RE investing.

Chris

Hi Joel,

Welcome to BP.

I live in Ft Wayne but also own property in Indy.

I look forward to your success.

Chris

Hi Chris,

My experience was much better in a larger town. At one point, we owned 4 duplexes in Huntington and 4 in Ft Wayne. There are many variables to this equation but we had much better success in Ft Wayne than we did in Huntington.

After that experience, we decided to invest in larger markets.

Have a great day.

Chris

Bill,

Welcome to BP. Sounds like you have a great gameplan. Please keep us posted on your results.

Chris

Jacob,

Welcome to BP.

Great AF thread we have going here. I retired 2 yrs ago.

Good luck with your new investment.

Having good property management is the key to success in owning rentals in my experience.

Chris

My recommendation for Chicago investors is to consider investing in Indiana. Property taxes are significantly lower and the laws are much better for the landlord.

Taylor,
I regularly have all of my cash invested and then rely on my HELOC for emergencies. It also depends on the terms of your HELOC. I do not pay any fees or interest unless I actually use the funds. You will want to ensure there are no hidden costs.
I average an 15-18% return on my rentals so I prefer not to have a lot of cash sitting in a checking account earning .00000001%.
The downside to being full invested is you cannot always take advantage of an opportunity if you do not have cash readily available but that is beyond the scope of your question.
Good luck
Chris