All Forum Posts by: Chris Thomas

This is not politically one sided, nor would it be a bad thing if it were evenly distributed. Meaning, if there’s a moratorium on rent, there has to be a moratorium on taxes, mortgages, insurance, etc which we all know will never happen. The best solution here would be, if this

policy is going to exist, to have a “unemployment” like program where landlords show their lost rents and those rents are compensated for out of a fund created for the good of the people. I’ve been out of the market for a few years waiting to jump back in. But to be honest this singular issue is what keeps me out for now.

I don't like this one bit. The return is weak compared to other modes of investment. Call me crazy but the real money seems to be on the property development side of things right now. May not last though...

Not near enough.

Excellent points.... so a few things.....

My father in law owns around 25 SFH in that area and was going to buy these but is willing to let me have them if id like.

We live 4hrs away but he already has a contractor he uses to work on all of his so we are good there. And frankly, my inlaws know just about everyone in the area and can give an thumbs up or down on most properties there.

I cannot break everything down per home at the moment because we are in the deals infancy and they are being sold as a group, so as far as individual prices I dont have them yet.

This deal will happen through a friend of a friend of a..... so it is really all about whenever I'm ready to buy.

I was nervous about the potential loss at the end but considering they would potentially pay for themselves in less than 10yrs it may just be a no brainer.......

Mort, tax, ins should be around 800 or so. Rents are 2200. So gross is 1400. They need work, but because of the area they are in, the amount I would logically put in or worry about updating is minimal. Again, they'd be HUD homes most likely.

Where are you putting your extra cash??? 

With the possibility of extra stimulus money flowing soon, increasing the amount of random cash floating around and tanking its value, where are you putting your money? Obviously most people here will say "property!!", and I get that. But with prices being sooooo high in many places right now, thats not even a great move for everyone. SO, what else do you buy? Collectables, securities, bonds, PM, etc??

The topic has been discussed a million times in a million different ways but I have an opportunity to purchase 4 small 3bdrm homes for around 115k. They are in a economically depressed rural location and will be HUD properties. I believe current rent on them to be 550 and can prob be pushed to 600 each. My only issue with the deal is knowing that, most likely, they will never appreciate. I will simply have to hold them until paid off and then leave them as 4 little piggie banks. This will be the first purchase for my new LLC.. What are the expert's thoughts?

Hey @Peter Stevenson, great to have you in the area! I'm on and off this site a bit but would love to connect any time. Have a great one guys.

Certain areas in and around Louisville are currently very inflated but as long as you're looking in to B&C class properties in working class areas I think you'd be okay. There has been a bit of growth in new A class property going up recently (think Upton @ Oxmoor) but those aren't what we are dealing with here. And I am in a similar boat. My town outside of Louisville is for flippers and builders only as you won't make a nickel with rentals esp single family. The only possibility is building multi-family as cheaply as possible....

I have had a property at distance, and so long as you have a solid property management company, you should be fine. And don't skimp out, they are the ones who will make this experience great or awful.