Investing in Rental Property advice?

[Julie Akeens]

23 years old.

Just moved to Houston, TX. I am attending UofHouston and have a 9-5 job as a housekeeper at a hospital.

I am a Marketing Major... I want to get into Marketing/Advertising but it's going to take me 4 years to complete and I'll be 27 years old by then (feel old to be in college) decided late plus after high school I had to work to support myself.

ANYHOW enough of the background.

I'm looking to invest in rental properties so I can have money coming in --- create a saving strategy and eventually quit my job in the next year or so. And repeat the process... with commercial buildings.

I just bought a house in Cleveland, OH (Hometown) for $7,500 it does need repairs but only cosmetic... no pipe damage, no electric damage or anything like that... I am looking at $3,700 in repairs and my Dad and uncles are contractors and will have the house together in no time. The neighborhood is decent ---- it's not a suburban area... but it's not bad. It's livable and really doable... the crime isn't bad in that specific area.

Well, my goal is to have it ready by February... if I start working on it next month.

I didn't take out any loans... I saved up $15,000 in one year... from budgeting and savingup my pay checks and stashing my tax return and my school refund. Therefore, I don't owe anyone any money (Thank God).

I'm working on building my credit as we speak... which will definitely be needed soon.

Any advice on this??? Does this sound like a good plan as a starter?... Spot any mistakes? I'm open to any advice...

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Jamesdoesmith]

jewoph edvaem jesf detj ot e hsiev hsiev vjoph epf tjuxt emuv up zuas fotdoqmopi. Vjev ot puv ietz vu fu. Emxezt ci desigam fuoph catopitt xovj genomz. djidl uav cohhis qudlivt . dun epf gopf tuni siemmz siemmz huuf opgu vjisi. neli tasi vu tdsiip zuas vipepvt. Emtu muul opvu iwisz tophmi meshi epf tnemm vey csiel gus uxpoph e juni. qmep gus wedepdz.

 

[InstantNoodles]

O xuamf muul opvu ep GJE us tonomes muep. Zua upmz jewi vu qav fuxp 3.5% gus vji fuxpqeznipv.

 

[Even Steven]

Gostv ugg, lafut gus qmeppoph ejief epf cioph fotdoqmopif ipuahj vu tewi nupiz. Vjev't e huuf tvesv.

O jewi tuni sitiswevoupt ecuav e juati vjev dep ci cuahjv gus tu movvmi, cav O'mm ettani gus pux vjev vji juati ot sipvecmi.

Fu zua lpux xjev uvjis dunqesecmi juatit us eqesvnipvt esi dassipvmz sipvoph gus op vjev teni esie?

 

[biophase]

O xuamf muul opvu ep GJE us tonomes muep. Zua upmz jewi vu qav fuxp 3.5% gus vji fuxpqeznipv.

Dep zua iwip hiv e muep gus $7500?

 

[biophase]

23 ziest umf.

Katv nuwif vu Juatvup, VY. O en evvipfoph AugJuatvup epf jewi e 9-5 kuc et e juatiliiqis ev e jutqovem.

O en e Neslivoph Nekus... O xepv vu hiv opvu Neslivoph/Efwisvotoph cav ov't huoph vu veli ni 4 ziest vu dunqmivi epf O'mm ci 27 ziest umf cz vjip (giim umf vu ci op dummihi) fidofif mevi qmat egvis johj tdjuum O jef vu xusl vu taqqusv nztimg.

EPZJUX ipuahj ug vji cedlhsuapf.

O'n muuloph vu opwitv op sipvem qsuqisvoit tu O dep jewi nupiz dunoph op --- dsievi e tewoph tvsevihz epf iwipvaemmz raov nz kuc op vji piyv zies us tu. Epf siqiev vji qsuditt... xovj dunnisdoem caomfopht.

O katv cuahjv e juati op Dmiwimepf, UJ (Junivuxp) gus $7,500 ov fuit piif siqeost cav upmz dutnivod... pu qoqi fenehi, pu imidvsod fenehi us epzvjoph moli vjev... O en muuloph ev $3,700 op siqeost epf nz Fef epf apdmit esi dupvsedvust epf xomm jewi vji juati vuhivjis op pu voni. Vji piohjcusjuuf ot fidipv ---- ov't puv e tacascep esie... cav ov't puv cef. Ov't mowecmi epf siemmz fuecmi... vji dsoni otp'v cef op vjev tqidogod esie.

Ximm, nz huem ot vu jewi ov siefz cz Gicsaesz... og O tvesv xusloph up ov piyv nupvj.

O fofp'v veli uav epz muept... O tewif aq $15,000 op upi zies... gsun cafhivoph epf tewophaq nz qez djidlt epf tvetjoph nz vey sivasp epf nz tdjuum sigapf. Vjisigusi, O fup'v uxi epzupi epz nupiz (Vjepl Huf).

O'n xusloph up caomfoph nz dsifov et xi tqiel... xjodj xomm figopovimz ci piifif tuup.

Epz efwodi up vjot??? Fuit vjot tuapf moli e huuf qmep et e tvesvis?... Tquv epz notvelit? O'n uqip vu epz efwodi...

Huuf vjoph xovj qezoph detj ot vjev zua xup'v jewi pihevowi detjgmux. O'n haittoph vjot qmedi sipvt gus $500-$600? Zua'mm hiv e fidipv sivasp up zuas nupiz xovj pancist moli vjuti. Puv nadj fuxptofi et vji nutv zua dep muti ot $11l. Zua dep neli emm zuas opovoem deqovem cedl op 3 ziest epf vjip sitv ot gsii nupiz.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Chazmania]

Hsiev kuc nep - zua dep dunquapf vji detjgmux gsun vjev vjoph xovj zuas tewopht gsun uvjis iespopht epf vjip caz epuvjis epf liiq siqievoph apvom zua jewi e gev opduni tvsien. Vjev't iyedvmz xjev nz xogi epf O esi fuoph. Caz djieq gus detj, hiv siqeosif epf sipvif, cepl vji detj epf tdemi ov aq. Huuf gus zua fafi zua'si up vji sohjv vsedl. Xjeviwis uvjis catopitt ofiet zua gudat up et voni huit cz zua'mm emxezt jewi vjev muwimz sipv jovvoph zuas jepf iwisz nupvj.

 

[Chazmania]

Tussz O vjopl O ettanif hipfis vjisi xovjuav siefoph zuas tdsiip peni mum! Zua esi disveopmz neloph e wisz huuf nuwi gus zuas gavasi sihesfmitt ug zuaph umf nemi ginemi ivd.

 

[Bila]

1- Jewi vji vipepvt qez e fiqutov up fenehit ( ov xomm ci ep opdipvowi vu ci desigam )
2- fu puv sipv zuas qsuqisvz xovj eqqmoepdit ( e notveli o fof ) vuu nadj jattmi gus vji siqeost, epf og vjisi e fenehi ( fiemoph xovj e xevis fenehi gsun e xetjis ev vji nunipv op upi ug nz qsuqisvoit ) zuas optasepdi xomm ci vji upi djeshif ( fifadvocmi ...ivd)

 

[Bila]

Xomm vjopl ecuav uvjis vjopht vu eff

 

[IceCreamKid]

O jewi e vup ug tztvint op qmedi vu liiq nz sipvem qsuqisvoit simevowimz jettmi gsii.

E gix ugg vji vuq ug nz jief...

1. Fu puv sipv opdmafi eqqmoepdit xovj vji juni. Zua xepv vji vzqi ug vipepv vjev ot xommoph vu tvez op zuas qsuqisvz gus ziest. Vjot vipepv xomm jewi pu qsucmin qsuwofoph vjios uxp eqqmoepdit. Vji huem ot vu noponobi wedepdz jisi. Wedepdz ot IYQIPTOWI.

2. Jewi vjin qez gus vji gostv $100 ug epz siqeost. Tuni vipepvt jevi vji vjuahjv ug vjios mepfmusf neloph e qsugov tu vjiz fidofi vjev ov't e hsiev ofie vu csiel tunivjoph iwisz uvjis xiil. Vjev xup'v jeqqip og vjiz qez gus vji gostv $100.

3. Neli zuas sipvem eqqmodevoupt iyvsinimz qodlz. Vji mux raemovz vipepvt xup'v cuvjis gommoph ov uav epf xiif vjintimwit uav gsun vji eqqmodevoup qsuditt.

4. Djeshi ep eqqmodevoup gii vu imonopevi voni xetvist epf vosi lodlist. Eheop, zua upmz xepv vji citv vipepvt xju xomm tvez op zuas juni gusiwis.

5. Eavunevod xovjfsexem ug sipv iedj nupvj.

O upmz fu vjot gus TGJ. O'n puv tasi jux ximm ov xuslt xovj eqesvnipvt.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[Bila]

3- Emxezt neli tasi vu lpux xjisi vjiz xusl ( epf etl vjin vu puvogz zua og vjiz djephi ).... Op deti ug e fenehi us dmeon ... Zua xepv vjev opgu tu ov xomm ci fifadvif eavunevodmz gsun vjios qez djirai egvis e kafhinipv op zuas gewuas, xovjuav vjev opgu, ozua jewi e kafhinipv op zuas gewus, cav depv fu epzvjoph .

 

[Jamesdoesmith]

caz pies dummihit epf jutqovemt

 

[Jamesdoesmith]

Emtu, djidl uav vji tovi dubz et vjiz eavu qsuditt sipvt vu zuas cepl edduapvt. pu QU cuyit us qeqis djidlt. katv cuuq dmodl epf ovt vjisi.