All Forum Posts by: Ryder Meehan

If you have good credit, you could get 2 credit cards with 0% interest for 21 months - you can usually get a $7K limit on them.  That would give you plenty of time to pay it off - or even balance transfer to another card down the road if needed.

Google Credit Card Comparison - 0% APR 21 Months

Hello Macon-ites!

I just took over a Macon, GA distressed property at 907 Magnolia Dr. It's rough, very rough but the price was right and now I have it. My REI partner will be there next week - if any REI in the Macon market would let us buy them lunch or share some insight and contacts in Macon I would be eternally grateful. I hate entering a new market with no local recommendations - and if you ever find yourself with something in DFW / St Petersburg, FL / San Francisco I'll certainly return the favor!

@David Huynh

Great stuff, I like how you responsibly but creatively funded your acquisitions!  I just started using the 0% intro offers from credit cards myself - I got one with a $15K limit and no interest for 24 months.  They keep calling me to increase my limit too.  Why would anyone need hard money with credit on those terms? =)

So you didn't get the 8-plex after all?

I'm also interested in the coin-op.  I just bought a self-storage which is filling up really quickly.  I'm interested in other semi-passive business like coin-op laundromats and car washes.  How did you finance that one?

Hi, I'm seeking conference room space for an upcoming REI Meetup planned for Friday, 3/18 at 7PM in San Francisco. We would also love to find a place we could use once a month recurring.

A centrally located realtor's office would be great if you can accommodate us.  In exchange of your gracious favor we would of course invite the host to speak about their services and network with the group of investors.  

http://www.meetup.com/San-Francisco-Real-Estate-Investing-Out-of-State/events/229190449/

We expect 15-30 members to RSVP to attend by the time the event rolls around in a few weeks.  This will be our first meeting and I expect we will grow from there.  If you can offer a space, please send me a note.  Thanks!

Hi Michael,

I am starting up an SF REI meetup next month, I'd love to have you join as a fellow experienced investor. This meetup is around out-of-state investing, lots of good things to share and networking with smart people. I hope you'll come out and if not I'd still love to connect some time.

http://www.meetup.com/San-Francisco-Real-Estate-Investing-Out-of-State/members/

Join our inaugural Meetup! To get things started I'll do a no-fluff presentation on some hard-learned lessons for buying, renting and managing properties remotely followed by a group discussion on tips from other investors. There will be plenty of time to network and share opportunities before and after the presentation.

Unlike so many Bay Area meetups, this one will actually be held centrally in SF downtown.  Exactly location TBD.  Join us!

http://www.meetup.com/San-Francisco-Real-Estate-In...

What an incredible goal. If you haven't already - you'll want to start with building a network of investors/lenders, partners and anyone else needed to pull off such a feat. Where are you at with CF currently and what assets are you starting with? Are you and your friend full-time REI or doing it on the side?

It has taken me almost 5 years just to get close to $5K/mo cash flow investing in my free time.  I feel like my biggest hindrance is saving enough for a down payment.  I'm definitely following to see how you get funding and squeeze more juice out of your existing assets.  I'd love to get in on a group with a similar challenge to push each other!

Good luck!

Hi @James VanLoon

The numbers look reasonable - if in fact you can work the asking price from $299,000 to $170,000!  Either your realtor has a real silver tongue or the seller can't wait to unload - or maybe they just way over priced in the first place.

I don't know your market but a quick search on Harleyville, PA rental shows much higher rates.  Unless this is the slums you might expect more cash flow.  Overall, the cap rates in that market are challenging: average home at $375K and rent of $1,395 according to Realtor.com http://www.realtor.com/apartments/Harleysville_PA/...

You also mentioned a 15 year mortgage which also adds more upside since it will decrease your cash flow initially but in 15 years you'll be looking real good.

The major $100K investment is more than I would bite off for these types of numbers but I'm not a flip veteran like you are.  All and all, I think you have a "good enough" especially in that local market but I would need more info to say for certain.

Good luck!

@James PaineWow, it sounds like you've seen it all.  Good thought on partnerships, I'm starting to test the waters on a few once I replenish my cash from that last 2 deals I did in the last few weeks.

To say I'm passionate about real estate is like saying Kim Kardashian likes her own selfies, an understatement of massive proportions!  =)

The last few months REI has been consuming my thoughts and annoying the hell out of my wife.