All Forum Posts by: TJ Flynn

@Meryl McElwain I am curious, is the owner allowed to setup cameras in all spaces?  I mean including bathrooms?

@John Fortes Holding off on the primary resident and your other advice seems sound.  I have a nice paying job right now, but want to set things up now so that it will be my choice whether or not I want to work for someone else or run my own business.  Personally, I think not having a primary resident will be the most difficult for me, but hear what you are saying in regards to my capital working for me now.

While I live in Seattle, things are a bit too expensive, unless I cross the water and look at other areas like Bremerton, but that area is speculative at best.  However, I still keep my eye out in that area for screaming deals.  I plan on doing my first few deals in Arizona though, as that is where my primary residence will be and I prefer to stick close to home for my first few deals.

@Lynnette E. Yeah, I have to admit, that paying cash does give peace of mind.  Definitely a lot to think about.

@Luis Vaca I do have a pretty good idea of the direction I want to go and your idea of a live in flip is not bad, but I've been there before and it's not fun with all the dust, noise etc... 

@Scott Krone That's good advice, regarding the accountant.  I am always skeptical about "financial advisors", I would almost prefer to find someone that is doing what I want to do and learn that way, as @Account Closed Your response was very helpful and what I was hoping to receive from my post.  I think what I will do is start small, starting with my primary residence and look into a fixer-upper that I can have instant equity after a little sweat equity.  I'll make sure the numbers make sense before diving into anything using the pro tools from BP.  I am fortunate to be able to work remotely, splitting my time in Arizona during the rainy months in Seattle.  I may take you up on the PM once I have scoped out a few properties.

I have been reading the BP forums for some time now, but haven't really found articles having to do with my current situation.  I have some mad skills regarding remodeling, built my own kitchen cabinets from scratch, completely wired my home after filing for permits and going through the proper channels for inspection.  I love real estate, even though it is not my current career/job.  

Back to the topic though, would you pay cash for properties and then rent them for passive income? Would you pay cash for a primary residence and then leverage the heck out of it to purchase and BRRRR? Would you put the minimum down payment and buy as many investment properties as possible, and maybe only do a 15 year mortgage, so the time you are 65 you have steady passive income coming in? Would you loan the money out for higher interest loans, similar to hard money loans? I would really like to hear what others have to say.