Intro and investment summary so far (2 of 5)

[Lars Hasseler]

After two SFRs in Memphis which are both great cash flowers, I bought up four SFRs in Gary, Indiana. I was lured by the high returns on paper, and in some cases, they are accurate. Of my 11 total SFRs, the top earner is currently a Gary property, averaging $330.16/month in cash flow after all expenses. I would heavily caution all perspective Gary inspectors that success there, in my experience, is heavily dependent on tenants. Especially in a year of covid, rent may dry up for months on end. So if you don't have the stomach for riskier business, Gary may not be the place for you.

I stayed with Northpointe as a lender, who starts with loans as small as $30,000. Great experience with them so far. The lowest rate they offered at the time was usually 5.00%, though for one property I somehow got 3.375%. Still unsure how that happened, but I'll take it.

Property management is not great in Gary. I use PropertyBoss, and I have had mixed results with them. I've heard another name positively regarded, Vilgar, though I haven't worked with them.