World Traveler from Pottsville, PA

[Bobby Weaver]

Hello! My name is Bobby Weaver and I am a location independent entrepreneur currently living in Chiang Mai, Thailand.  Originally I am from Pottsville, Pennsylvania - a relatively small town with coal mining roots a few hours outside of Philadelphia. 

Through online ventures and some other items I have about $20k-$25k in cash that I am looking to invest in real estate in and around my home town of Pottsville. My current plan is to purchase a few apartment buildings using leverage and live on the cash flow. I can live comfortably in Chiang Mai for approx $750 per month and in the States for approx $1500 per month. I love living cheap, it is one of my biggest passions.

The plan to accomplish this is to house hack a multi-family property (hopefully using a FHA loan to put little money down) and also acquiring another multi-family, possibly another after that. The prices of the properties I'm looking at range from $25k-$100k and all have at least 3 units. Average rent ranges in my area but falls between $450-$750 per month based on the area and size (of course). If I am house hacking my living expense would drop drastically as well.

Assuming both 10% vacancy, $200 per month CapEx, and 10% for a Property Manager - I am seeing numbers ranging from $400-$700 in cash flow, all with very high CCR (most well over 65%)  and CAP rates and GRM great, too. These are also not fixer-uppers and would require very little in the terms of immediate repairs. 

There are also 2-3 buildings with 6-8 apartments in them, but I am unfamiliar with the process of financing those type of properties (I am very new to real estate investing). 

The Plan - 

4 unit multi family, living in one, 3 rented $350 CF
4 unit multi family $650 CF

Other multi family $500 CF

Bringing my total around $1,500 (I am aware this is pre-tax). 

This plan is still very much in the works, but I fully plan on executing a full plan on my arrival back in Pottsville, PA on May 1st. Any thoughts, comments, AND critiques are welcomed with open arms. 

I am very excited to be a part of this community!