Should you "buy" rental property cash flow

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Should you "buy" rental property cash flow

Joseph Collins
Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes

Hi community,

I have a single family rental and live in a duplex that has tenants. I sold a duplex recently that wasn't cash flowing well and now have about $40K to put down on a new property (these funds are separate from my 6 month emergency fund).  I have no debt and am accumulating savings at about $4500 a month thanks to my day job and the excess from my current rentals.  I'm trying to find one, maybe two cash flowing properties between now and the next couple years that cash flow enough to pay approx $2K a month.  If nothing were to change for me financially, that would result in me having all my living expenses paid (based on current rental cash flow) plus an additional $2K of expendable income, which I would probably invest in the stock market at that point.  Now I live 2 miles from my job, so I haven't been looking at the approach of moving into a new property to take advantage of owner occupied benefits and then moving later.  The further you move from downtown, the less expensive properties are.  House hacking is not completely out of the question, but due to the volatility of the pandemic and everything else 2020 has done, I'm trying to stay in one good location and buy a straight out rental -- also I'm at a point where I can afford to do something like that.

 I'm not good at finding "deals" and can't seem to find the support or real estate agents who offer helpful advice with the rental searching.  They sent me mls listings but don't offer good insight into rental trends or neighborhood quality or property investing in general (maybe that's not their job...?).  I was wondering if I shouldn't just sit tight and save $4500 for say 6 months and then add the $27K to the $40K and buy a property but put $67K down so that the mortgage is low enough that the property cash flows well. (These numbers are to illustrate my point - not necessarily 100% exact.)

The lack of support in being able to talk to an investor locally or find a mentor is making the rental search so stressful.  I'm getting blasted with mls listings all over the map with no guidance.  Also my agent presents things as - if you want a higher end property, you'll likely get good tenants but have low cash flow.  You can do section 8 or lower end properties and get great cash flow but you will have a lot more headache (and from experience the agent is correct that I do not like headaches).  The agent said I can get a property mgt company if I go the cash flow multi-unit or lower quality housing route, but then you lose 10% of your profits each month and the 60% placement fee which keeps me even further away from the $2K target.  I've been looking at homes but my agent tells me it's a hot market and for my current price range (about 130K - 190K in the greater New Orleans area) it's extremely competitive right now and I probably won't find a "deal" and cash flow will be minimal (~$240.00 a month-ish)  So I'm trying to take an easier route based on my current income, profit, savings rate and low interest rates and wonder what others think of this.  

Does it make sense to stockpile cash for a few more months w/the intent of putting enough down to force the cash flow vs the stress of driving around outside of work hours and having frustrating conversations with my agent?  Or do I need to just buy something, make sure it cash flows but if it's below my $2K threshold, just save after the purchase and then buy more properties until I get to that $2K.  I've been listening to podcasts, youtube videos, reading blogs and talking to random people ad nauseam but don't feel like I'm getting any more clear insights.  The "buying" cash flow seems to be a simple route that would get me to where I want to be.  My only concern would be waiting so long that interest rates go up (or I get laid off from the current job - or any other unforeseen risk that is slightly less likely to happen with a short period of time due to my current advantages).  But I don't think any of those things are likely to happen in the next 6 months.  Yes I'd be in the spring and it might be competitive again, but I'd have the power of a lot of cash (based on my price points) and good credit on my side as a tailwind.  Also, after having been laid off this year due to Covid, I feel that my current well-paying job and the pandemic induced interest rates are a snapshot in time that I should take advantage of since those things could (and will change) at some point.  The lender I'm speaking with now quoted me a rate of 4% w/the property as a non-owner occupied rental, which I think is amazing.  Now I just want to buy something and make sure it cash flows...

I'd like to hear from anyone else who has had a similar dilemma or what people's thoughts are.

My apologies if this post is too long or rambly.  It's my anxiety.

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Marshall Lew
Member since 2019 · 1 post · 1 vote
5y

@Joseph Collins

Jon V is correct on CF. Adding to your DP dilutes your ROI in most cases. I have a nice spreadsheet that will illustrate this for you. PM me if you want a copy. Happy to share.

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  • Jon Crosby
    Investor · Roseville, CA · Member since 2016 · 893 posts · 1k+ votes
    5y

    @Joseph Collins 

    Just my 2 cents here as I don't know your situation or market all that well, even with the long post.  :) 

    It's interesting to me that you have this dilemma and anxiety as you sound like you are a fairly seasoned investor at this point.  I would go with your gut on this personally just based on the fact that you were smart enough to liquidate the failing property and seem to understand any and all of the analysis involved in this decision.  

    When interest rates go up, property prices will go down so try not to think too much about chasing the low rates right now.  If you have no debt and own 2 other properties then perhaps you refinance those to get the low interest cash out and deploy when ready. 

    I think it would be wise to at least see how the election plays out and how the economy reacts to whatever happens, so that would certainly put you into next year no matter what.  I would keep searching for more investor-friendly agents in your area or even find a wholesaler to help you find any deals wroth jumping on right away.

    Best of luck to you! 

    0Reply
  • Ben Lapane
    Rental Property Investor · Houston, TX · Member since 2017 · 29 posts · 25 votes
    5y

    @Joseph Collins

    I would seek out whole sellers like New Western.

    0Reply
  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    5y

    Do you have a target area identified? Do you have the type of property determined? (SFR, multi family, etc), you have a price range? Once you get it sorted out as to what, where, and cost, you can focus on narrowing your search.

    0Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    5y

    See if there is a local meet up (and not in person, but via zoom or the equivalent).  You found good properties in the past, so how did you find those?

    0Reply
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    5y

    No.  Don't buy cash flow.  That increase in cash flow due to a higher DP% and lower mortgage % is an illusion...and working backwards.  When you buy a property, the only cost to you is what comes out of your pocket...which should be just the DP.  The goal is to recover all of your cost as soon as you can, because you don't start to make a profit until you do.  If you have negative CF, all that does is add to your cost, but you lose any and all returns so you end up going backwards as the property just keeps costing you more for every month you hold it with negative CF.  Here's where the illusion comes in.  When you increase your DP to counter the NCF, all you're doing is paying all that NCF up front.

    As to the rest of your questions, most of them (if not all) have the answers buried in the questions...hidden in plain sight.  If you go back and read what you wrote, you'll see the answers are right there.  If you can't see them, PM me and I'll walk you through them.

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @John Teachout:

    Do you have a target area identified? Do you have the type of property determined? (SFR, multi family, etc), you have a price range? Once you get it sorted out as to what, where, and cost, you can focus on narrowing your search.

     Hi John, thanks for your reply.  My post is asking about the specific approach of using cash to buy down equity upon purchase versus using a lot of calculations and looking for depressed properties to find something super cheap and then fixing it up to force equity.

    Regarding your questions I have answers to all of them, not that it will make any sense to someone not local.  I'm looking at Kenner, Metairie and LaPlace.  I want a single family.  My current price range is what I posted, 130K - 190K.  I also have a lot of other preferences such as not wanting the hassles I experienced with my last duplex.  I would rather deal with one tenant per property versus 2 or 4.  I don't want to live in the property.  I know how to tell if the property is in a flood zone, which I would normally not buy but this is southern Louisiana.  No flood zones flood.  The only difference is the flood insurance is cheaper based on the maps.

    If you feel any additional specifics as to my preferences would enable you to offer more insight into the core question, please let me know and I can post that info as well.

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Theresa Harris:

    See if there is a local meet up (and not in person, but via zoom or the equivalent).  You found good properties in the past, so how did you find those?

    Hi Theresa, the current property (duplex) is good because I essentially house hacked it.  I didn't buy it at a great price but when Covid happened and interest rates plummeted, I used it as an opportunity to refinance.  I also raised the tenant's rent because I knew they had stable jobs.  Those two things together resulted in it covering *most* of the mortgage.  It's not quite rent free, but it's close.

    The single family that is cash flowing well was almost an accident.  I bought it 15 years ago when I was a lot younger but knew a lot less about investing.  At the time I knew that debt in general was bad.  So I started attempting to pay down the mortgage and did that consistently for a few years, about 8 or 9 years ago.  A few years later I refinanced.  Then I moved out of it and rented it.  Because of all the principal payments and thanks to time and inflation, I suddenly had a very high cash flowing property.  So I didn't purchase it using any formulas or specific investment strategy.  It was a 4-bedroom home.  I was single then (and am single now) and at one point just wondered why I bought so much house and was living in a family neighborhood.  I figured a family would appreciate it much more than me and by then I had put so much money into it, I didn't see a reason to sell, esp. after an agent gave me an idea of how much it would rent for.

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Theresa Harris:

    See if there is a local meet up (and not in person, but via zoom or the equivalent).  You found good properties in the past, so how did you find those?

    I am trying to find a local New Orleans meet up group.  I did find a New Orleans FIRE FB group and I applied to join it a few days ago.  Awaiting on someone to approve the request so I can see the members and the posts.  So that effort is in flight.  I also befriended a couple real estate agents who at least let me lament to them and ask lots of questions.  These are not the same couple of real estate agents I've been trying to work with to find "deals."

    I just don't feel like I'm finding someone who either understands what I'm trying to do or I'm still not quite understanding the dynamics of trying to be a real estate investor in relation to agents that you might work with.

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Jon Crosby:

    @Joseph Collins 

    Just my 2 cents here as I don't know your situation or market all that well, even with the long post.  :) 

    It's interesting to me that you have this dilemma and anxiety as you sound like you are a fairly seasoned investor at this point.  I would go with your gut on this personally just based on the fact that you were smart enough to liquidate the failing property and seem to understand any and all of the analysis involved in this decision.  

    When interest rates go up, property prices will go down so try not to think too much about chasing the low rates right now.  If you have no debt and own 2 other properties then perhaps you refinance those to get the low interest cash out and deploy when ready. 

    I think it would be wise to at least see how the election plays out and how the economy reacts to whatever happens, so that would certainly put you into next year no matter what.  I would keep searching for more investor-friendly agents in your area or even find a wholesaler to help you find any deals wroth jumping on right away.

    Best of luck to you! 

     Hi Jon, thank you for the feedback.  I am analytical by nature and have bouts of anxiety.  I am starting to suspect that while I might not do the most efficient thing from an investment standpoint, I will probably still land in a decent place going with my gut long term.  But it's hard when you don't have people who face to face (or even via things like Zoom) to help validate your thoughts.  I am also extroverted so I tend to prefer bouncing ideas off people verbally and visually versus consuming online content.  Consuming content generally gives me tons of information that I still have to sort and massage to try and apply it to my situation.  However, talking to the typical person in my current circle about financial independence or property investing in general doesn't seem to click well.  BiggerPockets has a big reputation so I figured I'd check here.  This is a slightly hybrid approach where the medium speaks back. :-)

    I do appreciate your comment and the wholesaler, though.  I have met an agent who knows a wholesaler so I can definitely reach out to that person. Thanks for that suggestion.  Also agree with your thoughts about the election.

    Gut-wise I'm thinking using cash to buy the cash flow isn't really that bad.  Once it's done and the property is cash flowing, my objective has been met and I'm pretty much finished.  Money is just a tool.  If I have excess, like right now, I don't mind deploying it in a way that is at least returning *something*.  If people were to look at my portfolio right now, they would say I'm doing well.  So clearly my past tactics didn't matter that much since the current product is working.  Those tactics consistently pushed me into a better direction, though they may not have been optimal compared to what an experienced investor might have done with the same variables I was working with at the time.  And I do feel I have enough knowledge to keep doing that, pushing toward the goal using the tools I understand at this snapshot in time.  Hindsight is always 20/20.  It just feels like I'm fumbling around in the dark at times and now that financial independence is in sight, I'm getting anxious about not messing up and resetting the clock too much.  I'm not getting any younger!

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  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Joe Villeneuve:

    No.  Don't buy cash flow.  That increase in cash flow due to a higher DP% and lower mortgage % is an illusion...and working backwards.  When you buy a property, the only cost to you is what comes out of your pocket...which should be just the DP.  The goal is to recover all of your cost as soon as you can, because you don't start to make a profit until you do.  If you have negative CF, all that does is add to your cost, but you lose any and all returns so you end up going backwards as the property just keeps costing you more for every month you hold it with negative CF.  Here's where the illusion comes in.  When you increase your DP to counter the NCF, all you're doing is paying all that NCF up front.

    As to the rest of your questions, most of them (if not all) have the answers buried in the questions...hidden in plain sight.  If you go back and read what you wrote, you'll see the answers are right there.  If you can't see them, PM me and I'll walk you through them.

     Hi Joe, thanks for your feedback.  The only thing I question is your logic about the "illusion."  Your comment implies I would put down a significant DP and then still be losing money after closing.  While I do consider myself a relative neophyte in terms of investing in real estate for profit (versus retroactively fixing purchases that weren't ideal initially), I do know enough to keep from putting down a big DP and then still losing money.  I was with you till the assumption that I would still have negative cash flow after the purchase.  

    That's not going to happen regardless of which tactic I pursue.

    My question is whether using a big DP as a tactic makes sense when one's strategy is to have a cash flowing property quickly.  One common and popular technique according to people online is find something that's depressed or that has a tax lien or some other way to avoid putting out a lot of money initially.  Notice I said money not work.  I don't feel experienced enough to use those methods and I'm not finding enough local support to help guide me through any of those.

    So perhaps give your feedback after incorporating that assumption into your thoughts.  I can message you privately but I want to make sure you understand what I'm asking.  You can also message me privately now that I think / hope I've clarified what I'm asking.

    0Reply
  • Marshall Lew
    Member since 2019 · 1 post · 1 vote
    5y

    @Joseph Collins

    Jon V is correct on CF. Adding to your DP dilutes your ROI in most cases. I have a nice spreadsheet that will illustrate this for you. PM me if you want a copy. Happy to share.

    1Reply
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    5y

    My answer is accurate to your question.  I'm thinking you're not following the logic here.  The reason why you're NOT cash flowing positive, or as I referred to it as an "illusion", can be seen in the generic (but real world) example below. ( I have to assume the numbers here for negative CF if you put 20% down would be negative):

    Assumptions

    1 - Property PA = $100k
    2 - 20% DP = $20k; debt for 30 years = $430/m...$5800/y +/-; CF = $300/m....$3600/y
    3 - 25% DP = $25k; debt for 30 years = $400/m...$4800/y +/-; CF = $330/m....$4000/y
    ....Note:  This means you just spent $5000 to get $400/year, so it will take you 12.5 years to recover that extra cost.  If you stayed with the 20%, it will take you just over 5 years to recover the entire DP.

    What if the property has negative CF at 20% DP:
    1 - 20% DP = $20k; debt $5800/y; Negative CF = -50/m...-$400/y
    2 - 25% DP = $25k; debt $4800/y; Cash Flow = $3600/y

    ...Note:  Negative CF is just bad.  It means every month/year you  are just adding to your cost for the property.  If you went to the higher DP (25%), you would increase your CF to $3600/year, but you would still be behind for 7 years, until you recovered all of your cost.  All you did was pay all your negative CF for 7 years up front.  Another way to see this is you spent $5k to get $40/month back...and you aren't making a profit until you've recovered ALL of your cost (cash...out of pocket).

    Negative CF is not good.  Buying it up front isn't any better, maybe worse since you lose the potential of those extra funds if they were used on a different positive CF property.

    0Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    5y
    Originally posted by @Joseph Collins:

    I just don't feel like I'm finding someone who either understands what I'm trying to do or I'm still not quite understanding the dynamics of trying to be a real estate investor in relation to agents that you might work with.

    Call a few realtors and specifically ask for someone who works with investors.  Another option is call a property management company.  Some of them have people who are realtors and would have a better idea of what to look for and how much places would get in rent.  

    I'm guessing you don't know anyone who invests in the area or you would have asked them.  Perhaps asking for realtor recommendations on BP might help?

    As for 'buying cash flow' Joe is right. There are many different ways people invest in property and as long as you find one that works for you, that is all that matters. There is no single right way to do it as the market is different from town to town. All of the places I bought were on MLS. Three are in one town and for that I worked with one realtor who also has rental properties, so he knew what to look for. The other town, I worked with a PM who has a realtor's license.

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  • Stephen KeigheryBusiness Member
    Rental Property Investor · New Orleans, LA · Member since 2018 · 716 posts · 555 votes
    5y

    It doesn't sound like you are getting the best response from agents and can do better. Braden Smith is a good one in GNO and is an investor himself and very knowledgeable. I also think you can get a lot of this information yourself. The Northshore REIA is staring in person again next week and I would attend that to meet some people. I know your market isn't the north shore but you will find plenty of south shore people and local knowledge. You are already going in the right direction so think you just need a few more local connections to push you forward.

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  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Marshall Lew:

    @Joseph Collins

    Jon V is correct on CF. Adding to your DP dilutes your ROI in most cases. I have a nice spreadsheet that will illustrate this for you. PM me if you want a copy. Happy to share.

    I would like a copy.  How do I private message you?  lol

    I just sent you a connection request.  Guess that is first...?

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Stephen Keighery:

    It doesn't sound like you are getting the best response from agents and can do better. Braden Smith is a good one in GNO and is an investor himself and very knowledgeable. I also think you can get a lot of this information yourself. The Northshore REIA is staring in person again next week and I would attend that to meet some people. I know your market isn't the north shore but you will find plenty of south shore people and local knowledge. You are already going in the right direction so think you just need a few more local connections to push you forward.

     Thanks for this.  I send him a connect request here and will also try contacting him via phone.  I'd also like to connect irl with you, if that's OK.

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Joe Villeneuve:

    My answer is accurate to your question.  I'm thinking you're not following the logic here.  The reason why you're NOT cash flowing positive, or as I referred to it as an "illusion", can be seen in the generic (but real world) example below. ( I have to assume the numbers here for negative CF if you put 20% down would be negative):

    Assumptions

    1 - Property PA = $100k
    2 - 20% DP = $20k; debt for 30 years = $430/m...$5800/y +/-; CF = $300/m....$3600/y
    3 - 25% DP = $25k; debt for 30 years = $400/m...$4800/y +/-; CF = $330/m....$4000/y
    ....Note:  This means you just spent $5000 to get $400/year, so it will take you 12.5 years to recover that extra cost.  If you stayed with the 20%, it will take you just over 5 years to recover the entire DP.

    What if the property has negative CF at 20% DP:
    1 - 20% DP = $20k; debt $5800/y; Negative CF = -50/m...-$400/y
    2 - 25% DP = $25k; debt $4800/y; Cash Flow = $3600/y

    ...Note:  Negative CF is just bad.  It means every month/year you  are just adding to your cost for the property.  If you went to the higher DP (25%), you would increase your CF to $3600/year, but you would still be behind for 7 years, until you recovered all of your cost.  All you did was pay all your negative CF for 7 years up front.  Another way to see this is you spent $5k to get $40/month back...and you aren't making a profit until you've recovered ALL of your cost (cash...out of pocket).

    Negative CF is not good.  Buying it up front isn't any better, maybe worse since you lose the potential of those extra funds if they were used on a different positive CF property.

    OK, so you're saying higher DP results in a longer period of time to recoup the ROI, which is bad. That makes sense.


    So in theory (and depending on actual numbers) forcing the cash flow could be worse that a straight out monthly negative cash flow because you'd have spent so much that you're that much further in the hole in relation to a break even ROI target than simply having a monthly negative cash flowing property in the beginning where you are negative but only by a small amount.

    This fact just exacerbated my anxiety.

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Ben Lapane:

    @Joseph Collins

    I would seek out whole sellers like New Western.

     Thank you for that tip!

    0Reply
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    5y
    Originally posted by @Joseph Collins:
    Originally posted by @Joe Villeneuve:

    My answer is accurate to your question.  I'm thinking you're not following the logic here.  The reason why you're NOT cash flowing positive, or as I referred to it as an "illusion", can be seen in the generic (but real world) example below. ( I have to assume the numbers here for negative CF if you put 20% down would be negative):

    Assumptions

    1 - Property PA = $100k
    2 - 20% DP = $20k; debt for 30 years = $430/m...$5800/y +/-; CF = $300/m....$3600/y
    3 - 25% DP = $25k; debt for 30 years = $400/m...$4800/y +/-; CF = $330/m....$4000/y
    ....Note:  This means you just spent $5000 to get $400/year, so it will take you 12.5 years to recover that extra cost.  If you stayed with the 20%, it will take you just over 5 years to recover the entire DP.

    What if the property has negative CF at 20% DP:
    1 - 20% DP = $20k; debt $5800/y; Negative CF = -50/m...-$400/y
    2 - 25% DP = $25k; debt $4800/y; Cash Flow = $3600/y

    ...Note:  Negative CF is just bad.  It means every month/year you  are just adding to your cost for the property.  If you went to the higher DP (25%), you would increase your CF to $3600/year, but you would still be behind for 7 years, until you recovered all of your cost.  All you did was pay all your negative CF for 7 years up front.  Another way to see this is you spent $5k to get $40/month back...and you aren't making a profit until you've recovered ALL of your cost (cash...out of pocket).

    Negative CF is not good.  Buying it up front isn't any better, maybe worse since you lose the potential of those extra funds if they were used on a different positive CF property.

    OK, so you're saying higher DP results in a longer period of time to recoup the ROI, which is bad. That makes sense.


    So in theory (and depending on actual numbers) forcing the cash flow could be worse that a straight out monthly negative cash flow because you'd have spent so much that you're that much further in the hole in relation to a break even ROI target than simply having a monthly negative cash flowing property in the beginning where you are negative but only by a small amount.

    This fact just exacerbated my anxiety.

     You're rationalizing the negative CF again.  Saying NCF (even small) in the beginning is better than paying for it with a bigger DP is like saying you would rather die from complications by getting an infection from cutting your finger cooking in the kitchen, than having the kitchen fall on your head.

    Sorry about adding to your anxiety.  Actually, no I'm not...LOL.  It depends on what you do with this.

    0Reply
  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    5y

    If you're talking about paying down the property so you have a positive cash flow, that is a strategy that works. You're essentially "buying" and income stream. This would be no different than purchasing an annuity or a dividend paying investment.

    We specifically seek cash flow (income stream) as our rental model and to achieve that we pay for our properties in full. ie, we don't use leverage on most of them. This of course ties up more cash but it also helps the properties to cash flow well and that's what we live off of.

    There's different philosophies of REI and some will say to put in the absolutely smallest amount possible and use other people's money to buy your properties. Others, like us are more conservative with debt. Everyone is convinced their way is best and can prove why that is but it essentially comes down to what you're comfortable with.

    0Reply
  • Joseph Collins
    OP
    Investor · New Orleans, LA · Member since 2016 · 19 posts · 5 votes
    5y
    Originally posted by @Theresa Harris:

    Call a few realtors and specifically ask for someone who works with investors.  Another option is call a property management company.  Some of them have people who are realtors and would have a better idea of what to look for and how much places would get in rent.  

    Hi Theresa, followed your suggestion and found an agent that I think is an ideal fit, a local realtor who started as an investor and definitely understands my mindset.  Thank you for the suggestion. 

    This forum is awesome!

    1Reply
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