All Forum Posts by: Rick Watt

 Glad you found this motivational, best of luck to you.

 Congrats, that's fantastic!

I know what all the expenses are and I used $2,200 as projected rental (which is typical for this area for a place with four bedrooms), which gives me an 8.3 CAP, with a monthly cash flow of around $600. Yes, correct, I currently have an empty condo, but I don't have my first payment until Feb. 1. I expect to have the condo rented sometime in Jan. Check out the BP calculators if you haven't already, they will help you run through the numbers when evaluating a property. If something isn't currently a rental that you are looking at, there are plenty of ways to estimate the monthly rent you can get. Hope that helps.

 Nice work!

@William Crutcher, good luck, keep on driving, you'll get there in no time.  Congrats on deciding to take action.

@Ashley Byington, congrats!  Was that your first property?

@Ryan Williams, I may just go after another condo or town home in the Denver area since that's what the market is giving out here.  Although I am interested in a duplex or 4-unit as well, so maybe see what I can find.  Also looking at Multi-family syndication.

Happy Holidays!

For anyone reading this that hasn't picked up @Scott Trench book or any of @Brandon Turner books, do yourself a favor and buy yourself a Christmas present.  I wouldn't have been able to do this without them.  Their books are truly amazing.

@Ty L., Happy hunting to you as well.  I'm excited to see where we are both at next year - I'm sure it will be awesome!

@Ty L., thanks such a great way to end the year.  Appreciate the congrats.  Happy Holidays.

@Michael Swan thanks chiming in, that is such a great story.  I did listen to your podcast, but I need to re-visit it, which I'll do this week.  I'm in San Diego one week, sometimes two every month.  I'd love to grad a cup of coffee with you and hear more about your strategy.  I'll hit you up separately, just let me know if you are interested.

@Bryan Frost good luck to you.  You've found a great site and I'm sure you'll succeed as well.

@Chad Chism thanks Chad, Happy Holidays.

@Daniel F. Harb Merry Christmas to you as well, thanks for the congrats.

@Cara Lonsdale Yes, great points and definitely a learning experience for me.  I'll be certain to follow your advice on my next one.  I think the seller will end up coming to get it Tuesday, but worst case I pay someone to haul it away and learned a great lesson early in my investing career.

Thanks to everyone who is posting, this is awesome.  I'm glad there are a lot of newbies looking at this as well.  You've found a great place here at BP.  I never would have done it without this site.