All Forum Posts by: Sandy Thomas

Clark, it sounds like you have found an unfulfilled need in the marketplace...that's how most successes begin!  So congratulations for recognizing the opportunity.

I am not licensed in CO but would recommend that you contact the Colorado Department of Regulatory Agencies/Division of Real Estate.  I think this is their phone number: 303 . 894 . 2166.

My guess is that they will be able to either answer your questions or point you in the right direction.  Best of luck to you!

Hi Nolan and welcome!  Where do you hope to do your investing?  I am just down the road from your hometown of Kokomo!

Welcome, Adam!  I like that you are taking the time to set goals for your investment business.  Sometimes, real estate investors begin the process without outlining what they want their end results to be.

Good luck on your journey to $7000 per month cash flow.  You will have an exciting 36 months and I look forward to hearing more as you make your purchases!  

Greg job, JT! Did you purchase the properties using mortgages or some other method?

I own one rental property and it is in Muncie, a few blocks from Ball State University campus. My daughter lives in it with 2 friends and we clear $350 a month after all expenses. (My daughter pays us the same rent as the other tenants)

Best of luck with your investments! 

It's nice to have your license not only for research, but also in order to act as your own buyers agent and sellers agent...and get paid for it!  That alone would probably pay for your initial licensing, as well as your ongoing dues and fees, depending upon how actively you invest. 

Since you cannot do conventional financing and HML are beyond your risk tolerance, I would recommend that you adjust your timeline and use an FHA loan. The lower down payment will afford you more cash for renovations. The 12 month owner-occupancy requirement would simply give you more time to make needed repairs and save up for your next deal. 12 months from the time you move in, you will be free to flip yourself in to the next deal.

Hi Tim and welcome to Bigger Pockets!  It's a good idea for you to seek legal advise.  I am familiar with Patrick Schuster, an attorney who is based in Crown Point.  In all of my dealings with him, he has been professional and knowledgeable.  We are not supposed to post contact information on this forum but you could visit my website and email me that way: SandyT.callCarpenter.com  I'd be happy to pass on his contact information to you.

Hi Doug, I am a full-time, professional Realtor based in Hamilton County, IN.  I can refer you to an excellent agent in the Corydon area.  Could you visit my website and email me via the link there.  We aren't allowed to post contact info. on this forum.  Thanks!

Herman, welcome to Bigger Pockets and I hope that you find it very informative.  There is much to learn here!

Welcome, Kevin!  I think you would find it very interesting to read back through old threads that relate to buy and hold investing.  Many nuggets of information there.  Best of luck!