All Forum Posts by: Bryan Vukelich

I am a big fan of the quality automatic car washes. Also like self storage.  Good luck 

Hi Joseph, as Nathan recommend, relative can be a good way to borrow money.  I also recommend trying to find attractive deals that other investors would be interested in buying and are willing to give you some equity for finding the deal.  Also, in my experience, wholesaling has proven to be a good way to make money while using only a small amount of my personal funds.  

Last, if you find a seller finance opportunity, see if you can get creative with the financing there.  

Good luck

Hi Onye, I used to own properties in Seattle Washington area but sold all due to regulations that were very pro tenant and greatly reduced owners ability to properly screen tenants.  I also owned a property management company and also have had other family members own a property management business, and we all agree that city, county and state regulations made it more difficult to manage units and also increased liability. 

So long answer to your question, is look for states that favorably treat landlords.  I'm currently invested in Idaho and very happy with how things are going.  But my partner and I have also look at Texas, Utah, and independently he has looked at Kentucky and I think South Carolina.  

Good luck in your search 

Hi Bryrick, the home is available.  Seller is asking $1.75M.  The listing agent is Mike Despard.  I can't post his contact info here so email me if you want.  

Hi Alan,

You are going to need funds from somewhere, so if you don't want or can't provide the funds, find a partner that you trust and can work out an agreement with him/her.

If you don't want a partner, you can try wholesaling in order to build up some cash.  Of if you find a great opportunity, get it under contract and find investor(s) that can buy it but will give you equity in the deal for finding it.  

Good luck 

Hi Jonathan - I use skipgenie.com - overall I get pretty good results and you can just search one property at a time if you prefer.  Good luck 

Hi Matt,

That seems like an attractive opportunity.  For financing, that really comes down to what you are comfortable with.  I've held multi family properties before in my personal name but always made sure that I had enough property insurance as well as umbrella coverage.  

Personally, and since my goal is cash flow as well, I'd do the investment loan.  Also, being a 2 unit that is in "very good" condition, I recommend you carefully screen your new tenants, try to keep the relationship with them positive and alway be proactive in addressing any concerns or issues they might have with their unit.  This will minimize any liability issues.  

Regarding tax strategy, I defer that question to an accountant who is knowledgeable in real estate tax planning.  

And also recommenced you speak to a real estate attorney (always valuable to have one on your team) and ask him/her if you can transfer the property into an LLC after closing if you did the investment loan.

Best to you, 

ok - I'll talk to the agent and see if the house is still available and if so, how he'd want to proceed.  

Hi Joey, big thing I wished I knew was how to do many of the repairs myself.  Over the years, I've learned that many repair issues really aren't that complicated to figure out (though I've had water issues at a couple properties that even some plumbers could not figure out what was wrong) if you have the time and patience.  So for repairs, I recommend you get clear on what items you are likely willing to deal with yourself and then leave the rest to a professional.  

Regarding liability and injuries.  Well some issues can be avoided by carefully screening potential tenants.  Also, make sure your property is up to code and doesn't have any outstanding liability issues.  I've had an agent from my insurance companies walk properties to look for any potential liability issues and I found that very helpful.  And treating your tenants with honesty and direct communication, while providing a well maintained unit, and quickly addressing any of their concerns goes a long ways in preventing issues.    

And then put in place whatever protection measures you can to limit your liability and also have enough insurance coverage. I, and my partner, always have umbrella coverage on top of our property insurance.

Wish you well in your journey - it can be very enjoyable.   If you have any other questions, I'm happy to answer them.  

Hi David, I look for all that you mentioned - never know where a deal might come from.  What market you looking in?    On O'ahu I came across a property that I was amazed sellers wanted to sell fast for cash.