Starting in MFH?? Read this and Bring your Questions
Monday, May 12
Q: I like the concept of MFH investing, where should I start? Short Response: 1. Eliminate your rent/mortgage payment 2. Bring all deals to the BP community (and be humble when doing so) 3. Stick to the returns you want Long Response: Learn everything you can abou...
Lending Money
Monday, May 12
Hard money will get you the best returns. You charge points (1 point = 1% of the amount loaned) up front and then a high interest rate 12-18% on top of that. These loans are secured against the property itself. From an investor point of view, I hate these. You can loan money out of a ...
Investing with Family
Saturday, April 26
I recommend dealing with family because I've had positive experiences dealing with a couple different members of mine. But I believe I had success because we left nothing up in the air. Everything went down in writing BEFORE the money was lent or the work started. I recommend writing everyt...
Monthly Expenses
Wednesday, April 23
I would find out exactly how much the following expense are going to cost you each month. "The tenant pays" is a good answer as well. Put those numbers up here and I'll tell you what I would pay for the place. Taxes Sewer and Water Trash Heat/Utilities HOACap Ex and Op...
Early Wholesaling, a MFH Perspective
Monday, March 31
Thinking about wholesaling properties? You have a good start. My next step would be business cards with your website address on them. Grab a map and start canvasing neighborhoods. Put your card under doors with a personal touch "I love the grand front porch" or "Great location, I have pe...
Starting Out DIY
Monday, March 24
1) What upgrades improve the price you can ask for rent? Paint is probably the best. Simple and "sorta" cheap. Adding a half bath is always good. Insulation means lower heating bills, make sure you sell this during tours. Quality, private outdoor space. 2) What uprgrades/ma...