All Forum Posts by: Alexander Churchill

I’m a buy and hold residential multi-family investor. I have 3 investment properties (2 doubles and a Triplex). I’d really like to get involved in some other kind of real estate investing. Right now I don’t really know exactly what the goal is besides creating passive income and obviously the goal of retiring from 9-5 early. All I know is finding a good deals with small residential C class properties that produce $500-1000/month income fully rented. I wish I knew more about bigger deals or how to even get started/involved. I lived in a small metro area in central PA so not sure what kind of opportunity would be local.

From a lot of what I read it almost seems like people who invest in apartment complexes and commercial deals never really buy and hold? They just buy to flip in a few years and make money and keep investing which kind of gives me a headache to think about. Why would they buy and hold if they were producing 6 figures passively?

Any one with time and wanting to converse or pass advice would be great

What’s up BP.

I have 3 Residential Rental properties for a total of 7 units and 4 garage units. Fully rented monthly income of just short of 5k that equates to about $2700 monthly cash flow after mortgages and property management fees, not including repairs/upgrades. They are all C class/ b- class properties.

As you all are aware this year has been an unprecedented one and also unprecedented for me as far as repairs go and trying to get decent contractors as well as dealing with a property manager who in some ways is solid but in other ways seems in over her head.

I love investing and the idea of being aggressive in pursuit of financial freedom. As of now all I know is multi-unit residential investing strategy that includes finding below market value deals and trying to turn a $700-$1000 profit per month, per property.

I’d be lying if I said I wasn’t growing weary of this particular investing style and process. Which leads me to the idea of liquidating in hopes of investing in a bigger and more consistent style of passive income. Which leads me to the questions of how to turn 100k in a six figure or close to six figure income? Any thoughts?

@Kendrique Coats

Covid Discount deals only

@Paul Shannon

If you are serious, please let me know. I am so on board

@Alex Forest

That’s crazy our situations are almost identical. I’d be going from 5% to a low to mid 3. Also given the fact that not much principal has really been paid off yet it almost seems like a no brainer to pull the cash out now

@Kyle Case

Very unique, and yes! It does seem that way. Couple that with the outrageous real estate and school tax rate at least for properties zoned in the city you almost have to get a deal to make the numbers work. Very unique market indeed. Not sure anyone else on here would be able to say that their taxes are more a month than their principal in their escrow payment

@Mikael Winkler

Well I'm currently under contract on a 3 unit and am set to close in September. Unless an unreal deal comes my way I don't see myself buying another property this year so no. I don't necessarily need to the capital either. Although I do see myself getting a vehicle soon and I don't believe in taking out a loan on a car so I'd probably be paying cash. Wouldn't mind using some of it to upgrade some of the properties I already own. Not too familiar with HELOC's. Not sure I like the idea of taking out a loan vs just cashing out, although cashing out kind of feels like I'm just taking the proceeds of a sale now instead of later.

How does a HELOC work exactly?

@Josue R.

Just signed contract on a 3 unit in my area. I live and invest in Williamsport, PA. A lot of older homes, combined with a lot of timid investors = heck of a deal if you play your cards right.

Basically played the Covid card with the listing agent and uncertainty with moratoriums and unemployment to get a heck of a discount on this property essentially 75% of the listing price.

PS if you live in a state that allows duel-agency always use the listing agent as they will be doubly motivated (6% commish instead of 3%) to get a a deal done with the seller

@Mikael Winkler Yeah basically! I owe about 57k and if they give me a loan for about 100k I’d be cashing about 40k give or take. Tenants have already paid down about 13-14k of that cash in over the last 18 mos so it looks like a no brainer. Only downside would by a higher principal and I’m all about cash flow right now, but having a property make me 40k off an appraisal while still keeping 20% equity in the property vs about 25% right now seems like an opportunity I can’t miss out on right now

Bought a rental in December 2018, got it for a bargain. Put a roof on it and now Zillow has it estimating at 50k more than what I bought it for, put 25% down plus another 10k for the roof which puts me around 35k total in when looking at it through the COC ROI method. Never done a BRRRRR before personally but I'm guessing this is kind of how it works? My question is that if I Cash out-Refi, that technically would mean that the property already paid itself off in terms of COC right?