All Forum Posts by: Amit Kal

@Luka Milicevic 

Zip is 37216, 800 sq ft

Same tenant since we bought the place in 2015. Rent started at $875, now just bumped to $950

I have not had that experience. I own five duplexes that I've picked up over the last two and a half years. Always stay rented and rents range from $925 for a 1/1 up to $1895 for a 4/2. 

Hello @Pamelyn Baim - is this still available? I'd like to get more information if you have any. Thanks.

Hello OP @Rohan J.! Hope you don't mind me piggy backing off or your post, but I am looking for the same thing. 

Value added play with an acquisition cost in the $700k-$800k range and all-in costs up to $1m (all-in costs to include renovations, vacancy, etc.). 

Please PM me as well if you have anything. 

@Anthony Gayden good for you sir. But mature investors (agnostic) tend look at all asset classes and carefully evaluate the opportunity cost, risk, and effort involved before investing.  I stand by statement that RE should be one of several investment vehicles for building wealth. 

Real estate is not the best path. It is A path to retiring early. Sameway there are other paths to retiring early such as securing a very high-paying job. Is up to you to both figure out what is the path to saving the most amount of money that you need to retire at the age that you want. Real estate is just one, albeit less-complex way to figure that out. You will obviously get a lot a real estate biased responses here but in some cases it's just better to work your way up the food chain or open a small business to get where you want faster.

@Eric James we were both new to out of state investors and wanted to diversify our risk in case things didn't go as planned since we picked up two duplexes at the same time that both needed work. Since then, we've gotten comfortable with this investing style, we've picked up more together  and more on own. I also wanted by buddy to get involved - he's a financial unsavvy surgeon and ripe for being taken advantage of by financial advisors and the like. 

I know a few but they are connected, mainly with family who own large portfolios and give the business to their entitled son/daughter or nephew/niece who get to pursue jobs like assistant curator at a small Chelsea gallery 😜

@Caleb Bryant I set out to do the same in the Nashville area two and a half years ago. 

Let me share with you some real numbers so you have direction. 

With the exception of one duplex I bought all cash for $187k, the rest of the units I partnered up on with one person and we took conventional 30-year fixed financing putting down 20-25% each time. The $ figures below represent my share of what I invested. To do the same, you'd need a partner who can pony up the same funds as you. 

In that time so far we have acquired 13 units (mix of SFH's, duplexes and now one triplex) with my personal investment at just a little over $375k (out of savings) for total net cash flows of $40k/year after ALL expenses.

Now I don't touch that cash flow that comes in and plan to use it for down payments on other properties when a good deal comes up. That is the snowball effect. My hope is that I can double my portfolio in two more years, but property prices are high and we have to go after dogs we can rehab so our leveraged returns go lower since more cash out of pocket. So it's very likely I may end up investing another $375k ($250k out of my pocket plus saved cash flows from existing properties) and end up with only $30k/year of extra cash flows. 

That would put me on track to make $75k/year net (EBITDA) in five years of investing. I don't do this full-time and I am an out of state investor so you might be able to do better than this. The local guys doing it full time get the best deals. 

In these numbers I don't talk about appreciation or principal pay down because I am buying and holding these, and aiming for solid cash flows with strong tenant quality. 

If you have numbers to share, I'd be happy to provide feedback on what you can expect based on what I've experienced. 

Good luck!

@Sean Cole ha! very true