All Forum Posts by: Rusty Thompson

Then start with a Multi to live in and manage with a good positive cash flow that will only cost you 3.5% down, and pursue your flipping carrier. But remember, what every you buy, make sure its a deal. Or you could destroy your investment career before it even starts.

Supposedly, but depending on appreciation is a fools game. In my opinion. Though I hope for it, I do not count on it.

In the famous words of Archer... Either!?
It depends on what your goals & time are. What your financial situation is. What your local real estate is like. A little more information is always helpful. For a beginner, I would recommend a 4-plex because it is the largest multi-family unit that you can get with a FHA 3.5% loan. It will teach you the ropes of being a landlord & everything will be close at hand so you can keep a eye on it.

I second that, that was a very good read. Refreshed me on some things I new, and taught me some I didn't. Thanks a lot

Just remember... never trust someone to find you a good deal, when their pay check depends on you spending the most money possible...

Most Realtors are completely ignorant to the realities of Real Estate investing. Next time you talk the her, ask her how many properties she owns. I've talked to several that have given me (and many others) some of the worse advice I have ever heard... I know my realtor knows nothing about real estate, she is just someone who can let me into the house.

That aside I don't think you will have a problem. I looked at the Provo Craigslist for "for rent" & then looked up houses under 100,000. I found 10 that would be good prospects for myself. All you would have to do it negotiate them down to a good price point for you. That is just stuff off the local MLS. You may be able to do much better with direct mail, and out of area owners. It is possible. Just read here and learn, then go out into the world with that knowledge as you sword and shield.

Today I had to change my address. I used USPS's online service. To my surprise at the end of checkout they gave me a option for coupons... hmmm Home Depot & Lowes you say.... So I printed them out.... 10% off of your purchase up to 500$ off... OMG... thats 1000$ between the two stores. Its going to save me 350$ on my rehab!!! that was one productive change of address :mrgreen:

Direct marketing to owners, whole sales, short sales & foreclosures, auctions... There is a epic amount of information on this site. But some areas (southern california) do not lend themselves well to buy & hold investing. If you would let us know were your located you would get a better opinion. Maybe even some people in your area.

What is the average rent in your area Charlie & the average price of a 3/2? As far as needing 30% down... is that if you buy off the MLS? because the general opinion is that the best deals are not on the MLS. What if you found a property at a 30% discount?

Owner Financing is not always a good deal.. but that aside, I think if your fronting the money & he is doing the work than a 50/50 is fair (consider you return on investment, hard money would charge 10-15%).... You could always put in a stipulation that he is responsible for expenses up to the $5k initial investment... but at that point would you not then be liable for half the work. At the end of the day fare is in the eye of the beholder