All Forum Posts by: Kirill Chervets

Good Monday to all of you!

I have really been considering investing out of state and getting myself several rentals in a much more affordable and high ROI than is offered in expensive Seattle. I am looking for a small trustworthy team of an agent, bank lender and property management team. I wanted to come here and ask if anyone has recommendations. Thanks everyone!

Ken,

Seems like I will need to pay off a nice size portion of my two properties while at the same time saving up for down payment so I can loan at 60% LTV. Eventually I will maybe consider trading up to a MFH as that would be ideal for what I am looking to do.

So just to keep everyone posted, I just closed on a 3/2.5 home here in my target investing area and am really excited. I will be renting my townhome that I own and can very conservatively expect a $300 net cash flow. This new property I bought is a 2005 built home and needs very very little to be ready to read. My question is that there are currently tenants living there and want to stay... should I keep them there and create a new lease, move them out and find new tenants or ? I am using a conventional 30yr fixed loan. I would like to use my net cash flow from both properties to be able to buy another one within the year and by 30 years old which is 6 years from now hopefully have 10 rentals! Hopefully my career keeps pace and I continue to learn... I love this site.

Hello Everyone!

My name is Kirill and I am from the beautiful state of Washington. I would like to share some basics about myself and what I would like to accomplish in hopes of getting an idea or direction I should go.

-I am graduating with my B.A. after summer semester.
-23 years old
-Currently gross about 70K
-I would like to build up a portfolio of real estate units and cash flow as well as appreciate

Right now I own a town-home that I purchased FHA last year for 110k, I owe 97k and it was assessed at 167k. My mortgage with P&I, taxes, HOA equal out to $1050. The rental rate on my place is $1350 which I based off of what my agent said and comps in the complex.

I just got a pre approved conventional loan at 97% LTV with a rate of 4% for 250,000. It will be owner occupied as I will be renting my townhome.

I think I would like to buy a SFH and live there with my girlfriend and save up for a third purchase. My goal is to have about 12-15 properties by the time I am 35. Does this all line up and should I do something different with the opportunity I have?

The main question I have for you pro's is what would you do in my position... I think I made a good decision with my first purchase ans would like to continue making good deals. I have read countless hours of posts on here and am excited to join this community.

-Kirill