All Forum Posts by: Aaron Hunt

The property closest to me (4 hrs away) happens to also be the only Class C/D property that I have (inherited from in-laws, didn’t buy) yet it gives me the most anxiety of all due to it’s location, build quality, tenant class, even though it cashflows heavy.

Baltimore is only 45 mins away from me and I flat out ignore it from an RE standpoint.

2 Votes

@Matt M.

“You’ll pay more if I have to itemize each task with a price.”

Do you also hide da monies under da mattress?

0 Votes

You’d have to be living in the boondocks for agents to show occupied properties all the time (or at all). That would be a desperation move on their part.

Doesn’t really happen anywhere near major cities.

0 Votes

@Jonathon Weber

Trying to follow along on your second example of household earning over the $315k threshold.

We cross that threshold, and as of now our properties are all just jointly owned (in our names). Trying to figure out if we need to do anything new/different or let it ride.

(Haven’t put them in LLCs since they’re financed. Have a large umbrella policy in place overtop the individual policies.)

0 Votes

Originally posted by @Alexander Felice:

Originally posted by @Aaron Hunt:

What was the trigger to jump to multi-family?

This is my current mental road block.

I’m currently collecting SFRs like baseball cards (Beanie Babies, POGS, Magic Cards, Pokemon cards, etc etc) but need to scale up.

Time constraint from day job is a factor!

There were a few triggers

Last year when I was on the BP podcast I told the whole world about my secret little investing location and it seemed the entire investing community descended upon it. Prices went way up, I decided I didn't want to compete against beginners who were willing to buy at any price

Biggest trigger was mortgage number 9. well I can only get 10 Fannie loans without doing some drastic alterations to my strategy. I was also getting sick of buying one at a time. So scale constraints really forced me to look at something bigger. SFR is a great way to learn, but it's no way to grow.

Makes sense. I rarely think about Mortgage #10. However, since both my name and my wife's are on all properties, and we're at #5 - this is likely something I have to take more seriously. Hopefully that will be our catalyst as well. I feel like we've just very comfortable as this has gotten easy/routine for us. We know a SFR deal and when to go after it - but being uncomfortable is actually what helps us grow. Thanks for the input!

0 Votes

@Jim K.

Agreed. This is bathroom reading material to anyone who actually invests and owns sh*t.

When I am done in here (currently in bathroom), I'll go back to searching for my 5th cashflow rental, while cash-out refi'ing my 4th, and completing the HELOC on my 3rd.

1 Vote

What was the trigger to jump to multi-family?

This is my current mental road block.

I’m currently collecting SFRs like baseball cards (Beanie Babies, POGS, Magic Cards, Pokemon cards, etc etc) but need to scale up.

Time constraint from day job is a factor!

0 Votes

@Alexander Felice

Anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a Millennial!

1 Vote

I’m in as well. Currently in rapid-fire max mortgage debt accumulation mode at the moment! Cash flow is nice too!

Buying one $200-400k SFR per year currently. Have yet to leverage into MF but need to.

0 Votes

Originally posted by @Daniel Whitmore:

How important is it for my first deal to be a good deal?

I’m new to real estate. My network is small. I don’t have muscles to flex, I don’t have past experience to guide me. I’ve read books, listened to podcasts and webinars but that can only help me so much, right? I have a lender and an agent but I don’t have a contractor, attorney, CPA, or inspector I trust.

To make matters even more difficult, the markets I’m looking to invest in are hot. Good deals go fast. Starter homes are more expensive than I anticipated. Everyone is paying asking price or higher. Most deals are gone before I ever hear about them. I’m competing with investors who have been doing this for 20 years. They know the market far better than me. They have teams in place. They have systems I don’t have.

I have little hope that my first deal is going to be a home run. I’ll be lucky if I break even in terms of cash flow. In reality, it seems a lot harder than all the books make it out to be.

Here is my question: how important is it that my first deal is a good deal? How much pressure should I be putting on myself? This stuff is stressful and it sometimes consumes me. Should I spend the next 2 years reading every real estate book, vetting/ interviewing every potential team member, studying the market daily, finding a mentor I trust and can learn from, BEFORE I do my first deal??

Or... Should I work with my investor friendly agent and just buy an OK deal found on the MLS just to get it out of the way?

Most important question of all which is relevant to pretty much every legitimate BP post:

How old are you? Do you have time on your side or is it in fact a barrier?

Is one’s goal is investing for retirement (protecting from ones own self) or investing for financial freedom (early retirement of sorts)?

I’d much rather own property when I’m younger (with interest rates like these) in my 20s-30s, which is at the least break-even, then I’d wish to be 40-50 and finally hitting a home run by BP standards that’s $300-500/door.

0 Votes

All Forum Posts by: Aaron Hunt

Aaron Hunt has started 10 posts and replied 645 times.

Post: I won two online Baltimore Foreclosure Sale but I bid too high!

Post: Where can I get $25,000 just until my house closes-30 days?

Post: What to do if agent won’t show the house?

Post: Is the cash flow 100% tax free if you own 100% of the property?

Post: My proof that Biggerpockets works

Post: How would you turn $500,000 into 5 million in 5 years?

Post: My proof that Biggerpockets works

Post: Millenial Multifamily Investors Out There?? Let's Connect!

Post: Millenial Multifamily Investors Out There?? Let's Connect!

Post: How Much Pressure Should I Put on Myself for Deal #1?