All Forum Posts by: Bradley Mair

Quote from @Samuel Diouf:

Your second strategy is similar to house-hacking and is a great strategy if you want to be less hands on. 

If you want to go the OOS multifamily route, it will require a little more work, but you can scale pretty quick when investing in the right markets. 

 Thanks Samuel. There’s so many good strategies it’s hard y to pick one, but these two seem best for me.

Quote from @Patrick McCann:

Why would you choose Maine? Not that it’s a bad choice but what’s your reason for choosing there. If you’re not using a primary residence loan then I’d go for the triple because it would likely cash flow better than a duplex

I’ve been looking at affordable markets in places that I like to go and the prices seemed reasonable in ME. Of course I don’t really know if the prices or market are good because I’m brand new to this. 

Thanks Patrick!

Quote from @Greg Scott:

Generally plexes are better if you are focused on obtaining cashflow.  The problem is that in many areas it is hard to find comps.  Because of this, they tend not to appreciate as much and are a little harder to sell.

So, if you are looking for growth, I would focus on SF.  If you are focused on cashflow, then plexes.

Thanks Greg, definitely something to think about. 

Quote from @Sam Shueh:

Anything under 20% is problematic.Wanting income you get a multifamily on the next.

Sam, you think a multifamily is a better option?  Even out of my local area/state?

Hello,

I have money for one deal but can’t decide what is better, a duplex/triplex out of state (Maine probably) or rent my current primary residence, upgrade, rinse and repeat. 

Any help is appreciated!

- Brad

Ha!  I get that. Thanks!

Thanks for the thorough reply, Jaron. My understanding is if you live in the residence yourself for a year and a day, you can get a traditional mortgage as it’s not considered an investment. Is that off base?

Has anyone found success in turning your primary residence into a rental, buying a new primary with 3-5% down and repeating each year?

Thanks. 

Has anyone successfully built a full rental unit in a single family development with an HOA, specifically Douglas County?

TI’m looking to build out a basement as a fully separate apartment.

Thanks!