All Forum Posts by: Caitlin Logue

@Victor Nguyen Awesome you are getting into the investor game!

A few questions: How much excess cash do you have? You don't need to respond publically, however, that can determine the % down payment. Multi-family is going to cost more than a single family home and might require a larger down payment.
What is your goal exactly and what does a little bit of cash flow mean to you?

Any type of rentals, whether it's single family or multi-family, will come with its own challenges and set of headaches. That's just par for the course. Even if you hire a property management company, then you take on the job of managing the property manager. Make sure you set aside a monthly budget for maintenance and have the proper insurance in place for maximum protection.

I would suggest starting with a single family unit before multi-family as you get used to the business. 

Hey @Nathan Frost! I would run the numbers for ALL properties and specifically look at your return on equity to help guide the decision for each property.

Here is what I suggest that you do:

1. Analyze individual investments - dive into each property. How is it performing? Would you buy this rental again today?
2. Model Scenarios to Explore Opportunities - WHAT IF scenarios! Explore other investments and scenarios. What's the opportunity cost with the current equity?

3. Create / update your portfolio architecture action plan - Write it down.2) Focus on your return on equity. ROE is a great metric to look at because it takes into consideration your current returns compared to current market value. I'll send you a video on how to evaluate this metric. It's not talked about enough and VERY important when analyzing a portfolio.

Yes, I have tried other calculators and they weren't great. I found a software program that is fantastic. I'll DM it to you.

Super exciting times! RE is a great industry. I recently made the pivot myself and I do not regret that decision at all.

A couple thoughts:

1. Get that LLC set up. What is your current LTR under? I would put the LTR under that LLC if it isn't there already
2. Find a local mentor
3. There are hard money lenders out there who can help with fix n flips so I would start conversations with different lenders to get a sense of terms and interest rates.

I would also prepare yourself for the long game. Real estate investing is great and a lot of fun. It can also be risky, tedious, a huge headache and take years and years to build. I'll send you some great educational content from my mentor Chris Lopez. 

Good luck!

I would recommend starting slowly with one purchase and building off of that as you learn the business. It can take years to acquire multiple properties. My next question is: how are you defining success? Is it a certain monetary goal? cash flow per month? Cash on cash return? Is there a lifestyle goal driving all of it? It is a basic question, but a very important one.

Maybe you have thought all of those things out. I would say real estate investing is a long game, full of many obstacles, barriers, and headaches. Not for the faint of heart, but it's absolutely worth it. I will send you some videos from my mentor Chris Lopez and he can be a great resource for you as you dive into investing.

Hey @Frank Rubaie! I am an investor-friendly real estate agent based out of Denver, CO. 

What else is in your dealbox? What kind of joint venture are you looking for?

Hey @Allen Stewart!

Welcome to the community! You have come to the right place.

I am an investor-friendly agent and I also live in Wheat Ridge, CO. What is your business? 
House hacking is a good idea and will help cover your expenses. Wheat Ridge is such a great little town and I look forward to connecting. If you haven't already, keep an eye on recent Colorado legislation regarding tenant/landlord laws. Things have recently changed and it would be good to know.

Put simply, my goals:
1.Obtain my RE license in Colorado (Done!)
2. Make my first passive investment into a real estate syndication investing in multi-family

#2 is in process!!! I have spent my time creating my own deal box for investing and educating myself as an investor. This has been hours of courses, podcasts, reading, and total and complete immersion. It's been fun so far and I am excited to make my first investment soon.

Hey @Danielle Smith! Welcome to BP! I am a licensed agent in the Denver Metro Area. Bigger Pockets has great educational content on here so you will learn a lot. I'm an investor-friendly agent and I am also in the process of building my own portfolio.

What else is in your investment deal box? eg: type of asset, price, will you be taking on debt or paying cash, what type of risk are you comfortable with, what is your short term and long term goal? 

Hey @Sam Leon!

It is a good idea to post your property in a forum like @Bob Stevens mentioned. Have you ever bought or sold your own property before? If you decide to sell and have not done it before, I might suggest using an agent. I am a licensed agent myself and real agents have a huge network of buyers and sellers and they might even know investors who might want your property. Unless you have deep experience selling your own properties, there are many details and legalities that can cause you tens of thousands of dollars if not done correctly or if they are overlooked. Ultimately, the decision to use an agent is up to you but the good ones are worth their weight in gold and can truly be a consultant for you.