All Forum Posts by: Scott Sklare

Hi all,

TLDR:  I'm 50 and want to scale quickly and be FI in five years. For my first MF, should I start small with a duplex or jump straight to large MF since I want to eventually get there anyway?  I.e., is there value of learning how duplexes work before going big?  Seem like completely different beasts.

Long version:
My wife and I have had a primary residence for many years, 401ks, the traditional plan. W2 employees, stumbled on BP, listened to podcasts, got my wife onboard, got a heloc, analysis paralysis. The usual. That said, I'll be 50 next year so time to get moving.

Goals:

1) FI in five years / ability to leave W2-life if we choose

2) Greatly reduce tax burden (mostly traditional 401k/IRA $ vs Roth)

3) Have a SCALABLE / manageable business. I don't want to build a haphazard, time-sucking, disjointed business.

4) Teach / show / prove to my teens the power of REI

5) Bonus goal: Have one or more properties appreciate significantly over the next 4-5 years. I say bonus because I know I can't control this.

Strategy:

I can't say I'm passionate about MF but it seems like the most logical way for me to scale up quickly given my age. 

Next major step for me is BPCon so any feedback/guidance before then is tremendously appreciated. 

Kindly,

Jon

Hi! We live in Hawaii.. We're new to investing and just trying to get started. With the market being the way it is, we are looking to invest outside of Hawaii and hopefully once we get enough capital purchase something else here.  We have a pre-approval and currently working with an agent and looking in Orlando but with inventory, interest rates, and prices we're having a hard time finding "a good deal".  We committed to this area because we're somewhat familiar with it.  But now I'm second guessing if this is still a good location.  So I'm just wondering if anyone has any advice on if this would still be a good location for us, starting out, or if we should maybe start looking in to other markets.  Any advice is appreciated!

I’m new to real estate, here to create relationships and connections. My criteria is out of state investing. Challenge my knowledge, make me think. Lol I’m Open to conversations.

I did a cash out refi on my 1 rental last year before the market blew up, I notice it’s starting to cool down a bit down. Where can I find cash flow rentals? I’ve been sitting on this money and would like to put it to work. Id like to use the money as a down payment on a loan, don’t want to use the full amount to buy anything cash. Thanks! 

I have spent so much time researching and I am so anxious to make an offer and close on my first MFU. I am just having trouble finding the right location. My goal is to buy a MFU (2-4) doors and have it cash flow from the beginning and still have a decent appreciation. I am open to a SFH if it cash flowed too. I narrowed the cities down to Greater Metro Atlanta are and Dallas Metroplex. Atlanta does seem to have some deals that can work. Haven't had any luck with Dallas. Are there other markets I should consider? Budget under $600K and 20% down. TIA

Hello Everyone,

I wanted to get some advice on investing out of state. I currently reside in California, and it is more costly for me to get started in my area. I am considering looking at properties in the Milwaukee market. Since I am new to real estate and looking to buy my first property, any advice and tips would be greatly appreciated. I look forward to seeing your responses.