Why am I here?

 

I began with studying real estate investing in 1991. I started by buying an overpriced product from one of the gurus and I read every bit of it. For the next 16 years I read about real estate with the intention of becoming an investor. I was in a state of analysis paralysis and could not seem to make the leap from want-to-be to investor. Finally, in late 2007 I jumped in, at the urging of a wholesaler, and bought my first house. In the next four years I bought a total of 13 properties.

Over time, I have developer forumlas and tips for investing.  This is an excellent formula for rentals, and this works for almost any type of real estate investment pricing.  I have also learning tips, such has what rent range is better for an investment property.

Up to this point, I have only purchased rental houses and I act as the property manager. Now I am about to expand my real estate investing to include other investment strategies and new tactics for finding leads. I work a full-time job and do all of this in my spare time. Read along with me and you can learn from my mistakes – I am sure to make a plenty.

It takes time to ramp up the leads and get deals working. Therefore, I will start off with historical artifacts – that is the specifics of every investment property I have already purchased. I now have 13 houses, and I will give all the numbers for each house. I will show what I paid for the houses, the lessons I have learned, and how I handle the tenants. I will detail my bad experiences and discuss the mistakes I have made. I will be posting frequently, as I the progress of my new strategies I will al post the information on my past deals. If you are looking to purchase investment real estate you can learn a lot from my mistakes.

As I move forward with my new strategies I will discuss my experiences. I will not hold anything back and will cover all the financial details of every deal. I will explain my marketing plans and document how successful they are. I am not here to teach my new approach, I will be learning as I go and you can learn with me – without risking your capital.

Feel free to ask questions or to critique any of my decisions. You can even critique my grammar. I look forward to sharing my experiences and receiving feedback. Hopefully, we can all learn something from this discussion.

 Please leave a comment below.  Let me know how you found this site.  If you found it from a web serach, what did you search for?  I will use this to optimized traffic and increase the people who read the site.

  9 Responses to “Why am I here?”

  1. Don,

    This is going to be really great. I look forward to reading about the ones that you have and what you have learned from them as well as the new adventures that you will be creating as you dive into other strategies.

    I always like to hear about people decided to change the path they are on. That’s exactly what makes and keeps life interesting.

    Danny

  2. Don,

    I like the candid approach to your blog. My wife and I have 6 rentals and we have made quite a few mistakes ourselves.

    I admire your venture out into flipping..Good luck. BTW, what has percipated your change in strategy?

    Take Care,
    Ch.

  3. I found that I was making the bulk of my profit by buying with a discount. I would spend $40k on a house worth $60k. That 20k is a 50% profit in a few months. Then I would make about $3,000 cash flow a year on the rent – that’s another 7.5%. It seemed that I was making over 90% of my profit when I bought and renovated. The landlord part was less profitable and more time intensive.

    With renting, I am also paying down principle, rents go up, and eventually the house is paid for. The rental approach provides a long term cash flow. I am still on the fence about what is better.

    I am not sure which approach is better. I know rental investing so I thought learning flipping would be interesting. And after a few flips I can evaluate the best approach. I think I will find some higher end properties flip better and lower end houses are better as rentals. I am working on new methods to generate leads and I would like to have a good understanding of several strategies.

  4. how can i find real estate investors?

    • Finding other investors has always been a hard job for me. Up to this point I have only had rentals and really had no need to find other investors. Now that I am moving to flipping I would like to find a way to find other investors. One good idea is to join a Real Estate Investors (REI) club. Most cities have them but the one in my area has closed down.

      I may place a craigslist ad looking for investors. I will list some of my current rentals and see if I can find an investor that is interested. I’ll try to do this later this week and report the results here. I will update the blog when I run the ad.

  5. Have you worked with any real estate investors and If you were to begin investing today what would be your first step.

    • I have worked with one other investor when I bought my first house.

      I also have a friend that has 4 rentals. I showed him what I was doing and he followed my approach – with some tweaks.

      I think I would start with rentals because it seems safer. Your main goal is to not spend too much on the house. The will destroy the deal if you are flipping, but if you are renting you have a little more leeway. If you can get a 30yr fixed mortgage you should be able to cash flow pretty good. Look at some of my posts on some formulas.

      In a few weeks I may post and article on getting started.

  6. Love it, Don. Love the transparency and love the detail. Rock it out, man. I hope to follow your continued move upward. :-)

    …jp

  7. Found your blog through J Scott’s blog. Loves the information here since I am looking into start in the rental side of the business. Really appreciate you sharing your experience!

Leave a Reply to Chuck Cancel reply

(required)

(required)

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Powered by Rebus Technologies © 2011 Real Estate Adventurer Suffusion theme by Sayontan Sinha