All Forum Posts by: Mark Douglas

@Mark Douglas Congrats. Looks like an awesome situation. I agree with Troy, keep putting money away to build your portfolio like you mentioned in your post. Stay dilligent and committed. Good Luck.

Thanks Chad, I'm sure going to try!

0 Votes

Originally posted by @Troy Fisher:

Don't Live RENT FREE! Pay into your operating fund the same amount of rent you are paying now! Grow your war chest and be able to show rental income to future buyer/bank/lender. It will also help you avoid lifestyle inflation during these formative years of your investing career!

That's great...avoiding "lifestyle inflation". I need to buckle down and "pay rent" to build up an emergency fund just for that property. Then (hopefully) slowly aquire some more units overtime. Thanks Troy!

0 Votes

Originally posted by @Bhekizwe M.:

no to impulse buying indeed when dealing in real estate.congratulations on the property and it was great to learn involvement on BP exposed what was possible.

Friendly with those inspectors also pays off

For sure man, thanks!

0 Votes

Originally posted by @Ronald Perich:

@Mark Douglas, congrats on your first purchase! Looks like you are off to a good start! Just think... for the $11,000 you're paying (down and repairs), you have a place to live for a year practically free. After that, you could have a place generating well over 10% return on that initial $11K! Forever!

I love that explanation, overtime that 11 grand will be paid back , plus the principal downpayment and eventual cash flow when i move out. So motivating thanks!

0 Votes

Originally posted by @Glenn Tracy:

@Mark Douglas Awesome job man, congrats! And pulling the trigger at 23, living practically rent free, in your OWN home, that's great stuff! You're definitely on the right track to being successful in the RE game. Stay focused and stay motivated and you'll do great!

Man, thanks! I can breathe a sigh of relief for a moment, but I'm going to try and keep moving forward little by little. Thanks again!

0 Votes

Originally posted by @Jamie Parker:

Congrats man, stay motivated.

Will do ! :) I'll give myself a few months to get used to things with this...but already the next one doesn't seem so intimidating anymore.

0 Votes

Originally posted by @Donna Salmiery:

Congratulations!!!

Thanks Donna!

0 Votes

Originally posted by @George C.:

Nice to see your progress from this post four months ago. Congrats!

Lol! Yes......thankful for this one coming together :)

0 Votes

Originally posted by @Timothy N.:

This is great. I'm moving to the Nashville area here in a few months. My wife and I are looking for our first house. I'm leaning more towards a duplex/triplex, and she would like a single family home. We will see what becomes available here in the next few weeks.

Awesome man, really can't go wrong either way. MFRs appeal to me for the economies of scale working for you, but SFRs are great rentals as well, as many areas are going through gentrification, and becoming more desirable areas.

1 Vote

@Leo That is a GREAT tip. I tried to give them a super thorough organized package of everything they'd need upfront to transfer everything over. I'll definitely keep that in mind, come holiday season.

0 Votes

All Forum Posts by: Mark Douglas

Mark Douglas has started 84 posts and replied 423 times.

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later

Post: 8 Months Later