All Forum Posts by: Xzavion Schultze
Xzavion Schultze has started 12 posts and replied 15 times.
Post: Credit card questions
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
I’m in the middle of paying off my car but I’m wondering if I should get another credit card. My credit is 750 but doesn’t go up any higher. What should I do?
Post: [Calc Review] Help me analyze this deal
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
*This link comes directly from our calculators, based on information input by the member who posted.
Analyzed this property to get my practice in. still a little bit confused on closing costs but what do yall think? A decent report or did I do something wrong.
Post: Looking for good markets to build a MTR portfolio.
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
Quote from @Bonnie Low:
Congrats on being very disciplined about saving money. You're already ahead of the game. What are your goals as an investor? Before you move or make any investments you want to define your goals and set a path that is aligned with them. For example, since you mentioned moving, is one of your goals to househack so you get all or a significant portion of your living expenses covered? If so, you could really leverage that $30k with a first time homebuyer's loan on the right property. Are you trying to buy to produce cash flow? Are you wanting to buy properties that will appreciate or are you willing to provide sweat equity to force appreciation? $30k is nothing to sneeze at. There are many markets where you could get into a property with that down payment, depending on what the strategy is that you are trying to pursue. It's a lot harder at today's interest rates, of course, but I'd focus on low barrier to entry markets like you'll find throughout the midwest and upper midwest. You might consider listening to podcasts like Living off Rentals with Kirby Atwell. He's in the upper midwest doing well with middle class STRs. Or follow Grace and Amelia on the WIIRE podcast - they're in Iowa and doing great in their markets primarily with midterm rentals. There are a LOT of options and it can be overwhelming so start with the basics: where are you going to live and can you make money off that purchase. Define your strategy. Then go from there. Good luck!
I’ll Definitely end up house hacking my first home. It could be a long term rental if it meets the standards.
Post: Looking for good markets to build a MTR portfolio.
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
Currently saving money to buy a house somewhere. Around this time next year I should have about $35,000 saved up. I really want to move out of the mountains and want to find a place to live where I can start investing. I have it in my head that I will save my money to about 30 grand. Find an investor friendly agent somewhere that will guide me better. Is this manageable?
Also let me know what some good markets are and what 2024 will have in store.
Post: Having trouble learning
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
I am reading a few books on real estate:
Rich dad poor dad
How to whole sale real estate by Jamil Damji
How to invest into real estate by Brandon Turner And set for life by Scott trench
I need to learn more vocabulary so I can understand the lingo. Can anyone help me make a list of vocabulary/ terms that I need to know before jumping into my first deal. (I have no access to networking meetups.)
Post: Small town/ rural living/real estate
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
I live in a small town called Elgin Oregon and need mentorship so I can start learning how to be an investor. Any investors close that may need help and will help me?
Post: Moving East to florida
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
I’m trying to move to florida in a year to be closer to family. I’ve been learning about investing and like the market in Kansas City Montana. I’ve never invested and am still learning the meaning of certain things like the 2% rule. The market in florida is way different. As a first time investor, what steps should I take to learn more and is it too much risk doing long distance real estate as a first time investor?
Post: Going to school?
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
My friends aunt is a real estate investor out of California. She said that if I want to get into the real estate business then I should go to school. I don’t think I need to go school. I’m not the smartest but I don’t think real estate is something I should spend years in school focusing on. Do I need school? Or should I keep reading books and build relationships with other investors?
Post: I'm making a plan!
- New to Real Estate
- Elgin
- Posts 15
- Votes 5
I'm in the process of trying to get a job so I can start saving money. I want to make an investment by the end of the year but I'm not ready to get in the game yet. What information as an investor is crucial for me to learn before I can become a good investor?
so, let's say I start saving money to buy a property in another city. I can qualify for a loan if I have a job in my current city and enough for a down payment and a job lined up in the city i want to move? Then will I be able to move into my property? should I rent out rooms to tenants that are friends? I'm a little confused. I'm also not good at seeing potential properties.