All Forum Posts by: Nick Sheveland

Where do you live? I would say that's extremely good pay for a 19 year old. It's good you have money stashed away in savings and a roth. When you do move out just keep in mind all the other bills that come with it. That can suck up money very quick. Do you listen to the podcast?

I would recommend it. You go from having a nice rental to like Kathy said "Barbie doll sheets" and aluminum foil covered windows by the end of moving day and look like section 8 from the get go. I wouldn't want to live next to that.

@Mike Ipsen I think that's a wonderful idea. I agree 5 bedrooms is in my opinion just unnecessary. I feel a 4/2.5 is more appealing then a 5/1.5 basically anywhere and better utilizes the space. Sometimes you have to shift your puzzle around to see it in a new light and in this case could mean all the difference. I like your creative thinking. Keep it up and good luck!

Just the bathroom situation alone has me as a no on that one from the get go. 5 bedroom 1.5 bath. That's a lot of people waiting to take a shower.

Definitely drive around Waco a bit to learn your areas if possible. There are some really nice areas and there are some absolute terrible war zones that I don't even feel safe in at noon on a Sunday and I'm a pretty big guy that can hold my own. Haha. Also just because it's downtown, by the school, or by the Brazos River doesn't make it "nice" or "safe." Just do your homework like any good investor should and you will likely be okay. I'm by no means discouraging REI there. It's an area I'm also interested in.

Congrats Monty! Can you tell us some of the details of this deal by chance? Is this your first deal? Cedar Park I feel like is the best place for your strategy. 

@Sterling Williams Thanks for the insight! I will definitely be looking into that area. I also have family about 40 minutes east of Dallas so that will be another area I look at. As I'm learning and building my list of goals and financial stability I'm seeing first had that the Austin area is very steep (and competitive) and good deals are extremely far and in between. Good deals here have to be made, not found.

Good eye @Kris Wong! I see that area is in fact a little less expensive. That's a growing area too. It use to be pretty rough but it is slowly turning into more of a student and "hipster" area. Good looking out. Thanks you!

I appreciate all the good advise y'all and warm welcomes! That's always wonderful to hear. My goal right now is to continue to pay off all my credit card debt within the next 8 months and build my credit back up. In my younger days I went crazy with cc's and spent thousands on car parts haha. No, it wasn't worth it but I did learn the hard way. Also my ex-wife had a car in my name that she liked to miss payments on that certainly didn't help my credit. Thankfully that's no longer in my name and my credit is rising fast as is my education and interest on investing. I like that idea @Grant Rothenburger about seeing what I can get approved for. It would be a good idea to see what my limitations are in that route of financing. Right now obviously networking, recommendations, and a mentor are what I need most. Being that Austin is so expensive a MFR or even a mobile home somewhere in the out skirts of town or even growing cities near by like San Marcos, Taylor, or Killeen, would be good area's for me to look into investing in.

Thanks everyone for the excellent advice and support. It's critical to have positive support and new ideas to keep your mind expanding and moving forward in the right direction and that's exactly what yall have been doing; so thank you very very much!

@Dave Visaya Thank you! There certainly are.

@Grant Rothenburger Honestly I NEED to stop renting from others and get my own house so that would be the ideal first investment. I'm moving into a new loft duplex in one week. They are okay with me subleasing or even finding another tenant to take over my 1 year lease. I would love to buy a duplex and live in one half and rent the other. Maybe go the 203k route? The only problem is that here in Austin (one of the fastest growing cities in the US) is that duplexes are extremely expensive. Just a basic duplex here on the cheaper side is about $380k-450k. That just seems to be about double what I'd like to get into lol. Plus the traffic is horrendous here so I cant exactly live 30 miles aka 1hr+ from my day job in west Austin /  Lakeway are.