All Forum Posts by: Richard Bastar

yeah man, I would talk to different lenders and work hard to refi.  I'm looking to do what you're talking about, but don't have a car loan. I do have a student loan though, multiple actually, but the interest rates are so low that I'm moving forward on a property.

Good luck buddy and stay at it!

I am also interested in this!  I'm in the national guard, but I'm curious if there are any restrictions on that or not.

I think Chris is on the right track with the washing machines increasing value/profits - unless people are waiting/unable to do their laundry currently, resulting in them going somewhere else off the property, then you'll only provide them the option to wash their clothes different days during the week, not necessarily MORE times that week.  Now if they want to wash more clothes, more times throughout the week, but can't due to capacity, then that may work.

Either way, the increased profits/income for the money spent on machines, doesn't seem as appealing to me as a property improvement costing $10k that could potentially increase the equity by $20k or more (if possible with your property's quality / status, like what David Faulkner mentioned).

Hope that input helps

Mike, that's great advice.  Question, is there some where to go and research what you're talking about?  I ask because I want to do that and am interested in knowing the Boundaries of 'same areas' vs different areas.

Thanks!

Man, this is killer advice, has saved me from trying to write a post, and now all I need to do is figure out how to screen them and choose one!

Thanks guys and gals!

Great advice, thanks guys! I'm trying to do the same thing in Orange County, CA.

@Steve Smith thanks for the advice and words.  I will absolutely be making it happen and look forward to learning and growing professionally.

@Joe Homs I will be attending the meet up in OC in Jan!

@Alex Craig great idea and I would attend the 11th in Orange County, as I live in OC.

Hi Everyone,

I'm Richard and am currently living in Anaheim, CA.  I am new to CA (2 years) and new to BP (2 weeks listening!).  I am amazed with this resource, community, and network.  It seems unreal to me that all of this is here and there are many people willing to help and I'm sure mentor other people in this community...love it!

I am known to all my friends as a networking mogul and am excited to get on here and start learning. I cannot stop listening to the podcasts and am trying to learn as quickly as I can. I am renting now and am going to purchase a property soon (within 6 months?). I am a chemical engineer in the water treatment community and am currently serving in the Army as an officer. I am going to pursue the VA loan route for my first purchase. I would ideally like to purchase a multi family residence to rent out the other properties while I live in it. I love to be active and this includes working out, crossfit (I'm not one of those guys, trust me), camping, cycling, rock climbing and indoor bouldering, networking, hiking, and anything that involves building relationships.

Looking forward to diving into real estate investing and beginning this new chapter of my life!  It's scary and makes me nervous, but what can you do besides learn, do your research, and ask questions along the way.

Rich