All Forum Posts by: Tom Howard

@joe 

@Joe Splitrock You're right! And my buddy has 0 properties lol. He's in love with Grant so he wants to follow his path and since Grant's opinion is very strong on one unit properties, my buddy sides with him. I just wanted to get some experience and actually jump into real estate and purchase some SFHs. I didn't want to scale to 100-200 or anything. Just 20-50. Then either sell the portfolio or just use the cash flow to start investing in multi. Maybe a fourplex here. Then a 10 unit and so on. Thank you for the response I really appreciate it.

@jill 

@Jill DeWit Wow thank you! Definitely is a great site!

@Chris Washington Hey Chris, thanks for the response. I wanted to jump into single family just because of the lower risk (I'm not investing any of my own capital into my first deal if I still decide to close in August or September) and yes, lower cost of entry. But if I could I'd rather jump into a fourplex or duplex. More income. But I'm limited on the capital I'll be using. I'd really prefer multi. But like I mentioned, I just want to go into single family because of the lower risk and limited capital. Oh! Forgot to mention, I'm also investing out of state for my first deal. I'd be going the turn key route but I've been doing months and months of due diligence on the property, location, management and rehab. The returns are great and it's a very low cost of entry. Although nothing is ever guaranteed in real estate, the money I pour into this property seems very secured. But I really do wish I could jump directly into multi family just because of more cash flow and the time invested into the deal. And only being secured by one loan instead of going out to find multiple for SFHs seems nicer. After all my ranting (very sorry for that lol) what do you think?

Let me first introduce myself. I'm Tomas and I finally decided to become a member. I was a very active reader here but I decided to try and engage in conversation here. I feel like I'll feel a lot more confident with the helpful community of BP.

So, most of what I've been doing is just listening to podcasts and reading books before I joined here. I always read the forums a lot before joining. I got to the point where I felt confident enough and I was going to close on a house in mid August. (writing this it might seemed that I rushed into that but I've been doing my hw for over 7 months, I just don't want to drag on with how I've been studying) I don't have much money so I wanted to build up a little portfolio of sfrs. Once I've gotten a fair amount and I have some income coming in every month I wanted to go bigger and invest that into apartments. The reason I feel a bit conflicted is because a buddy of mine told me "no man, listen to this." and pointed me to a few Grant Cardone videos haha. You probably all know where this is going. Obviously Grant is killing it. But whenever someone talks about a sfh he hates the idea. Always saying sfhs is dead. It's a terrible idea. 

I know I'm not going to get rich off of sfhs. I just wanted to get some income rolling in so that I can then move into multi family. Is that so bad? I wanted to get maybe 20-50 sfhs to get some good income then start investing in 10-30 unit complexes. After watching a lot of his stuff it just worries me that I really shouldn't head down this path. But everyone's different. There's different ways to build wealth. I guess since I'm a newbie, info from someone like Grant can really impact me. Any info at this stage really can. I'm just feeling unsure now about closing on that house now because I feel like it's such a bad idea. The way he talked about it just made me feel terribly unsure. Say you're in my shoes, what would you do? Still close?