All Forum Posts by: Chandler Johnson

Thank you, Bruce and Robin! These are helpful perspectives and tips.

I am considering converting a long term rental of mine in Arlington into a mid-term rental. I know there are several hospitals nearby which might bring in traveling nurses , but I am not sure how to know how much demand really exists. 

For that reason, I wanted to check if anyone has had success with midterm rentals in the Arlington/broader DFW area? What is the best way to get an idea of whether a mid-term rental will be successful or not? Thanks for the advice! 

I am happy to answer your questions and would love to try out your solution. I have a tech & analytics background and have found that many of the popular comp solutions on the market are not very reliable except in very "mainstream" use cases like SF, large market comps, so I would be interested to see/use your solution if your comps are more accurate.

Hi Jaden, I like your ambition! My short answer to your question would be don't force it, but there will be a reason to wait to invest. If you are in a position to house hack, that is a GREAT way to get started and it will allow you to put down less money than the usual 20% for an investor loan. That may be beneficial to you given your $40k in savings vs ~$30k for a downpayment + extra for rehab, closing costs, cash reserves, etc. That said, there are a lot of different ways to get started but the important part is to just get started!

Hi all, 

I am looking for advice on how to best allocate a 6-figure amount of proceeds from an upcoming sell and specifically what REI strategy will help me get to my goals the quickest. My goals are very clear to me - in the short/mid term, to be able to quit my job and pursue real estate full time. I am happy to generate active income initially, and would eventually like to work towards converting that into passive income in the mid/long term. Most importantly, I need to be able to cover my monthly expenses, which are unfortunately high due to a high primary mortgage that I'm working on paying down.

I currently have 3 doors all as LTRs, but I don't see how continuing with that strategy would generate nearly enough cash flow quick enough any time soon to cover my expenses and replace my W2 income. I am considering the strategies below and actively trying to learn more. I am not currently sure which strategy will get me to my goal fastest, I believe this is a great opportunity to step a lot closer to my goal and so I want to get it right! I welcome and appreciate any/all perspectives on this. Thanks everyone!

-flips (to preserve capital and generate chunks of active income)

-BRRR (this would preserve capital, but I question whether the properties would generate much cash flow after refi)

- Mid size MF, 8 unit range perhaps (This would exhaust my capital. How much cash flow would it realistically generate?)

- Short term rentals (I question how much income this can make in this day and age, with 25% going to a property mgr.)

-Alternatively, using all/some of the capital to substantially pay down my primary mortgage and continuing to aggressively pay it down such that the living expenses I need to cover are ~50% less once paid off