All Forum Posts by: Brandon States

I'd say it's a good deal considering you are in a location you want to be with a solid asset. To decrease the amount of money you pay out of pocket you could turn part of the home to a STR or MTR. That's what I did. I originally house hacked with a long term renter in the other unit of a duplex in a great location. They moved out in 2020 when interest rates were super low. I then turned their side into an Airbnb. The income is much higher but it does come with a more management.

@Jacorion Williams

Started by purchasing a duplex, lived in one side and did Airbnb on the other side. Now we're up to 12 units.

@Glen Wiley

I agree, I'm not comfortable letting just anyone stay in my listings. I already have enough trouble with guests on Airbnb with good ratings.

@Chai Xiong

I have a couple STR's in a different market. I'd be interested in chatting about some strategies that are working for you.

Me too!

 Purchased a Duplex as my primary. Tenant paid 65% of mortgage so I saved all that and used that as the down-payment for another duplex.

@Brian Dwyre I’m interested in getting into syndication by being a member of the team. Let’s connect.

I grew up in NJ and understand the high cost of living. I would look to invest in markets that provide a lower cost to entry but with good cash flow. Read David Greene's book which will help you better understand the concept of investing at distance. 

Great stuff and good luck on the next one!

It depends on how hands on you will be with self managing. For instance are you personally fixing minor things that come up? Or are you delegating to someone? If you're DIY'ing most things 30-40 minutes is not that bad of a drive. If delegating, then it doesn't really matter how far you live away. Personally all of my rentals are within 20-25 minutes which I have found to be very helpful as I self manage.