All Forum Posts by: Brian Osso

It is dependent on the market also. In my area the numbers don't really work for SFH. For example if I purchase a SFH for $150k I could rent for $800-$1000 and I'll be lucky to cash flow $100 per month. If I spend that same $150k on a duplex where I can bring in $800-$1000 per unit now cash flow is pretty good.

The numbers in your area will dictate what makes the most sense.

@Milo Milosovic thanks for the reply! I agree and like how once you are doing 5+ units you are not completely dependent on the market. I think that’s my biggest fear with duplexes/triplexes in my area.... they are all in less than ideal areas (which is fine) but the values of the properties don’t seem to be increasing. To some extent it doesn’t seem to matter the condition of the units either... if there are only 3-4 comps in the area and they are all run down... the renovated properties aren’t going for much more.

@Nick Robinson thanks so much for the reply, lots of good info here! It all makes since and I appreciate you taking the time! I’m going to start small with a duplex just to get my feet wet.... I would eventually like to get into 5+ units but at the time I don’t have the capital for the more expensive properties. I didn’t realize the differences once you are doing 5+ units (commercial) so thanks for pointing that out.

@Patricia Steiner thank you for the reply! As I'm just starting off the thought of a SFH seems a little less overwhelming. Unfortunately my market doesn't support renting out rehabbed SFH (mostly due to high home prices and extremely high taxes). At this time I'd rather stay local for my first project, it's just a comfort thing!

Just curious of the long term investment of multi-family over SFH?

I'm new and originally was interested in BRRRRing SFH but the numbers in my market don't work. I've shifted to looking at multi-family properties but I have a question I'm hoping someone can answer...

What happens long term when you want to sell a multi-family? It seems so easy to invest in a SFH, cash flow, gain some equity, and eventually have the ability to sell depending on the market. In my head this doesn't seem the same for multi-families. Are there that many buyers for these turn-key properties?? I would think it's much easier to sell and make a nice profit on a SFH in a nice area in 10 years as opposed to a duplex in a less than ideal neighborhood.

Although I’m thinking way ahead... I fear having a portfolio of multi-families that are extremely difficult to sell if I was looking to cash out.

Any advice would be greatly appreciated!

I agree with Peter... I’m in CT and just getting started as well. I’ve been running numbers on numerous properties (I’m trying to brrrr though) and it is tough to get single family properties here to cash flow positive. I’ve started looking at multi-families and the numbers work. Between your mortgage and our extremely high taxes it is going to be difficult. The only way for you to end up positive is to reduce your mortgage payment as Peter has already suggested.

Thanks for all the info! Really appreciate your time

@Steve Morris thanks for the reply! I had a feeling Zillow probably wasn't that accurate in this instance. The listing shows pre-foreclosure for 250 days.

When I search the property on my towns tax website it shows the lenders info. I tried to look more into the title and the county website refers me to another site. When I pull up the property this is what I get

@Jonathan Greene thanks for the reply! It will be my first investment property, however I will be utilizing hard money for the purchase and rehab. I know I could use a conventional loan to purchase, but I’m looking at getting a distressed property whether I renovate and hold or flip.

This particular property has been vacant for years... I was thinking about trying to reach out to the owner, but after seeing the mortgage companies name on the tax assessment I am wondering if that is even an option anymore? I guess what I am asking is how do I actually determine the status of the property so I can determine the best way to try and acquire it?

Just getting started in REI and ultimately looking to utilize the brrrr method to acquire and rent properties.

However, I have a property down the street that I have had my eye on for a while. It’s vacant and distressed, and could potentially be a great property for a flip.

My question is I am confused about the status of the property, and would like some advice. Zillow has the property listed as a pre-forclosure but when I search the county tax assessor site the owner is not listed, the lender is. Again, this is all new to me, but I’m guessing the property is no longer in pre-foreclosure?

At this point who would I contact in attempt to acquire the property?