All Forum Posts by: William Durel

@Justin Tasset

Thanks Justin. I’ll put that on my calendar for next month. Can’t leave the 6 month old twins at home by themselves quite yet haha

My wife and I recently closed our first deal! Two weeks before we closed we already had a signed lease and they moved in the day after the rental was ready. ROI is just over 23%. Would have been higher but we put down 30% instead of 20%.

As exciting as this was I’ve learned quit a bit with this first deal. I’m already going through the process we went through and I’m making notes on things I want to do differently and learn more about.

I would like the opportunity to network and meet some Cincinnati, OH area investors, private lenders, and real estate agents (specializing in multi family properties).

Are there any groups that meet regularly? Or, any person(s) willing to meet over lunch or coffee? I’ve realized that my lack of networking is a hinderance to achieving my goals. I know tons of contractors because of my 9-5, but I’m seriously lacking on the real estate and investor side.

Thank you.

@Ashley Gish my wife and I had substantial student loans - not as much as you guys. But, we worked 5 jobs between the two of us to pay down the student debt as quickly as possible because of the high interest. We paid all 8 years of student loans in under four years. After that EVERYTHING was easy! We still lived that life style while saving money for several years. Now we invest and I still work a regular job. Life has been so much easier with no student debt! At this point the only loan we actually pay on is our primary house note.

Student loans first! IMO

@Sean Cole I did hear several people there saying they wanted the house for their kids. So it’s likely.

@Heath Ryans thanks. I appreciate it. I’m going to look I to this one.

We just purchased our first rental house. We went small/cheap to get our feet wet. We close in 30-45 days and already have renters ready.

When are new to this game. I’ve read a lot and learned a lot (still a lot to learn), but I’m not sure what the best financial apps/softwares are out there for this type of investment.

We are looking to build upon this for our future and would like to do things as smoothly as possible. Looking for something to track bill, payments, taxes, mortgage, insurance, repairs, etc.

What do you use and why?

Thanks in advance!

@Frank Chin I’m definitely going to go to a few more with an open mind. I’ll likely just watch and study the auctions for a while unless I can get a house really cheap. Definitely lots to learn there though.

@Daniel Townsend I think even to rehab your looking at $20-$25k. The houses in the area that were similar were only selling for $115-$125ish.

@CJ M. I reviewed the valuation that was placed and I asked a friend who is an agent what they thought the house could sell/rent for. Which is why i went. Renting it out for $1000 a month the cash flow at the valuation would have been about $200 based on taxes, mortgage and insurance. The houses ended up going for at least $15k above the valuation.

Based on the age and repairs needed I’d assume to flip there will need to be $20-25k put into it.

But again, this was my first auction so I’m assuming I missed a few things.

@Conn Gerrard and it was in Clermont Co in Amelia.