All Forum Posts by: Chad Nagel

Very intriguing model.  Did you ever pursue this more? @garrett blanchard

First off, never tell someone as a newbie how much you have available. Everyone and their brother will either try to sell your a "program" or a **** deal. As they know he can afford it. I would start looking at multifamily units, maybe a nice 8 unit to get your feet wet, using my 480k for my 20% down and hire a great PM.  Then rinse and repeat.  Keep in mind live where you wanna live and invest where the numbers make sense. If you truly want passive income, location should not matter.  Happy hunting!

If I was in your shoes, I'd learn a few things on first one then hire a pm. 20-30 units, your phone will ring non stop and burn you out. You will be putting out fires vs expanding the biz. I managed mine up to 38 units. Learn from others that have cut the checks from their mistakes.

This may be a touch off topic, But I have been in the rental biz for the last 16 years. (Im 36 years young).  The best thing I have ever done for my biz was to hire a PM after 15 years.  I did not manage my units as well as a professional does.  I know everyone wants to nickle and dime the rentals to squeeze all available profit out. But sometimes you are stepping over dollars to pick up quarters. Is your biz goal to manage a bunch of units or purchase a bunch of units.......

Attempt to contact to do a walk thru. Text/ call, fb to last known number. No response attempt to enter on date/ time you told her. Also contact FDL water, they can tell if any daily usage on meter. (if separately metered) 

Call me man if you have more questions.

Email sent. 

I think you misunderstood me. I CHARGE 10 % interest when I loan out money. Not I get a 10 % down payment on deal.

If you have the great credit etc and I was the seller. Every seller has a different reason for owner finance.  Alot of times the market does not bear the current ask price/ repairs needed and owner finance is the only way. Other times it may be a tax strategy on the sellers part. 

When I hold notes/ finance, I will not go below 10% on my interest rate.  Risk has to equal reward. So anything sub 10% is a great deal in my eyes. 

What is the need for the attorney?  What questions are you looking to answer? Most attorneys dont understand real estate at all.  My goal is to talk with one as little as possible. Do you know how to tell when an attorney is lying??? HIs lips are moving. 

Id figure atleast 10% gross rent cap x. This is a new park to you. Dont forget book keeping, manager, repairs. In the multi family game you can figure 40-50% gross rent on expenses.