All Forum Posts by: Chris Gordon

@Jeffrey H. so the math works out that there are 50k properties, presumably not needing much post-closing investment, which would rent at approximately 1000 each?

If so then I need to get smart on Baltimore

Question for the group to sanity-check the direction I'm going....experience is finding out there's a better way after you're done.

My goal is to achieve 5K in so-called passive income per month. That seems reasonable and achievable, and I think there are more than a few folks on BP who are there. 

I define passive as not having to rehab, wholesale, or any activity that requires me daily to keep the machine going...so that more or less leaves buy-and-hold of some type, perhaps buying notes, maybe something else I'm not thinking of. I welcome disagreement on this point.  

Let's say I had 300K I'd be willing to use towards this goal.

My current plan is to gain experience in landlording, rehabbing, building a local team, finding deals, with the aim of BRRRR-ing properties (right now SFR and small MFR, but maybe larger commercial once I have a handful or properties) over the next 5 years to achieve this.

Better ideas? Recommendations?

thanks

I'm in Pittsburgh and we're seriously considering moving to RVA. This conversation gives a good feel for the multifam market, what about the SFR particularly off market deals? Anyone finding success there?

@Justin R. I have to agree with Justin...I have a place that's legit cash-flowing in a generally appreciating area. Rents are about 75 under value. Tenants are great, responsible people. When they leave it will cost me: lost rent, general cleaning, repairs and replacement of wear items. That's probably $1500-2000. If they don't leave I defer that expense to some future time.

Of course on a long-enough timeline jacking the rent up high and getting higher-paying tenants is the better option. You can chart the ROI out and see when the break-even point occurs.

For me, I think the return is better to go 20/year (vs 75 at once) and have low-maintenance tenants I don't have to worry about.

Hah! I'm 39 and sometimes think that. Maybe we need to have a sub-forum for middle-age and up.

Im 39 and just celebrated my first "anniversary" of investing. Small goals focused on developing knowledge and experience has been a good policy for me so far.

 Wordpress.....find a host that provides it. Register your domain, spend some time figuring it out

It wont be award winning but it will work

so you have a store of value that will decrease in value if you liquidate it? You want me to give you real estate in exchange?

i wake up naturally pretty early.

I brush my teeth, drink water, etc

Meditate

Coffee

Review my goals and my plan to get there

Determine what i need to do today

Go to gym, most of the time while there i try to listen to something that pertains to education