if your still around… check out inbox. I sent you something, i have a question for you.
(Sorry mods, I know this is a silly thread, but his inbox might be full or he might not sign in )
Winter vacation gentlemen…If you check out my past post history I’m not around here much in Jan/Feb. Warmer climates recharge me for the spring SELLING SEASON!!!
:beer
hoosier, how old are you man? I feel like you and I are similar a bit. Only exception is I am 26 and been out of college for a couple years and instead of going in my field (electrical engineering), I got going into REI. And I think you just got out of college?
Been tough at first… shoulda prolly worked a couple years at 60k a year and built up a large cash reserve but if I woulda done that, I might not have ever gotten out of the rutted 9 to 5.
Anyways, I got three houses now, and the bank account really is startin to build up, cashflowin about $1300 a month and ready to buy more.
Thought we might be able to help each other out a bit, I get a lot of my properties through probate b/c nobody else in my entire city is doin that. Plus it’s easy to do while working another job and you find properties all the time before anybody else does.
What’s your main strategy after you get your cash reserves up?
Howdy mcinvesting :beer
Im 19 (20 here in a month), and just got out of a LPN program. I can make like… 30-35K a year (not great, but its very stable and I can find a job without a problem)
My main strategy im going to do when I get get my 30k is basically follow fdjakes advice. Read his recent thread about “power of cash.” or something like that.
You got a facebook?
Yea, I do have facebook, but I don’t check it that often. Name is Justin Chandler from Wichita, KS if you want to look me up.
I understand the power of cash philosophy a lot more now than when I started… it’s definitely important. How’s your credit score? I’ve noticed what might be even more important than cash is a good credit score. If you don’t already have one, I would get one and use it to pay for your gas and pay it all off every month.
I just bought a prop last November that was probably my best. It’s a condo that I purchased for 36k and had to put about 3k into it. It’s worth around 65 to 70k. The kicker is that it’s in a really nice area of town where sfh’s are in the 130 to 170k range and I am renting it out for $900 per month. I got it financed though so I owe about 26k on it. Question I had for you and fdjake in regards to taking the HELOC out on it, is it possible to do this when you already have a loan out on for some of it? Or is my only option to refinance this one and have to put up the 2k or so to do this?
Also, I’m strugglin to find the deals that you guys are talking about… where you purchase for cash around 20k and fix up a lil and sell for 70k!!! wow, would be nice, I mean I am close but only find approx 2 a year that are decent enough.
Any advice would be appreciated.