All Forum Posts by: Kevin Auyong

Your plan is not strange at all to people here. To the outside world it is wreckless. I moved from Ca and used my equity to buy rentals out of state. I rent a house now but net close to $105K a year and basically just retired. So while some struggle to work to meet their primary residence mortgage, I don't. In the bay area in 20 years they will have a whole lot of equity built up and maybe can retire, but I chose not to wait that long. That said it is really easy to lose buying out of state so be careful. Trust but verify on advice people give you. And verify as many as you can.

You will hear stories of people doing well, but seldom do people tell how badly they got burned because they are embarassed. You play your cards right and your sister will be kicking herself years from now for doubting you.

It's all numbers. I think a mistake was not factoring in capital expenses into the analysis and getting a true picture of what your true cash flow would be. 

I retired early living off my cash flows from my SFH rentals. A lot of people say get out of those and do Multi units. But no one has shown me numbers that beat what I have. At least I haven't seen them in my markets. I wonder if they really see the numbers as being better or are just following the mantra of moving up to multis.

Yes I agree replacing a roof on a four plex is less than a house when it comes to cost per unit. But not many people look at tenant turnover. In some cases multi's have a much higher turnover than a sfh may and that can eat into the advantage of cost per unit cap expenses.

I'm not against multis, I just want to see an improvement over my SFH.

Total nonsense. I have rentals in Bhm and  pay 10% of rents and 1/2 month tenant finders fee. 

You should just google property managers and cal them yourself

there's one google review that claims they bought 7 properties through them but says company has changed and they wouldn't buy again

I just saw op lives in birmingham so they should know if the better area is worth it to them, Some people joke the rich people in Mountain Brook have never left the area much less Centerpoint and Roebuck.

Keep in mind your rent to price ratio is much lower because mountain brook is the top area there. You could go to a lower class area and get better returns, but the question is can you stomach those areas?

thanks everyone

Can anyone reccomend a 1031 company in or near the Atlanta Area? I used Orexco when I was in Ca.

@J. Martin

Haven't talked to you in a while. I miss the meetups and late night parking lot talks. Congrats on your success. I always knew from the first day I met you that you would be a mover and a shaker!

I finally made the move to  Atlanta and am living off all my rentals, so the plan worked. I'd love to catch up and chat as I am looking into doing a lot of travel too. Like I told you before, if you are swinging out this way let me know. 

Once again . . . you are the man!

How will you handle walk throughs and check outs? What about tenant service calls who will validate and do the work?

I know it's been done but I think if you are doing c class and sometime b- it will be tough.

A class tends to have less problems and better quality tenants and less work, so it might be possible, But then you may not get the returns you want for cash flow.