All Forum Posts by: Chris Thomas

Let me preface this by saying I believe in trying to be/stay debt free if at all possible. With investment properties though, it seems more logical to be into a property around 40% and leverage the remainder. To me this seems like enough to head off any financially tough periods of time (like now) but let the bulk of the load be taken on by other people’s cash. So id love to hear stories about your methods and whats been working for you in the real world. I can’t wait to read your perspectives.

@Thomas Greer

Architect here......I haven’t met an urban planner yet I couldn’t out design 😁

@Jaden Adams

As an Architect, let me first say, you are pursuing a very specialized degree which sets you up to understand, design, construction, and real estate in a way 99% cannot. Don’t make the mistake of lumping your professional degree in with the countless business, communications, or sociology degrees out there. That said, once you graduate you will make pennies doing redlines for at least 3-4yrs before you can hope to sit for your exams and do what you want...... I think you should do what you NEED to do. And you do not NEED a degree. You can be educated in many other ways. Just think through it and be realistic. You will not be on million dollar listing any time soon and will have to network and scrimp and save to really make anything happen. But if you’re truly motivated, that’s really all you need.

@Tracy Pah

It does matter, which is the whole point for the LLC. Only in the beginning can you really get away with commingling funds because of the probable lack of cash. Each LLC protects a different asset. If funds allow, I'd consider an Llc for each prop under an umbrella. That way if prop 227 burns to the ground due to faulty wiring, the rest of your props are protected.

@James Wilcox my issue is, there really aren’t many properties to renovate where I am at. I have been looking at Lex too though that market seems a bit over saturated with investors.. Louisville on the other hand🤔

@Parker Eberhard, yes I was worried about that. In this market construction cost USUALLY range between 82 and 130/ft. Considering these are rentals I’m hoping to keep on the low end. The land will be what will get me though I think. And I have a background as an Architect so building units larger than a 4-plex really won’t be much of an issue.

Just as you’d expect, I’m looking to build properties (should the numbers work) instead of buying older buildings with questionable histories. The question here is, how many of you have done the same and how has it worked out for you? What kind of rent are you seeing? 1%, 1.25, 2??? I’ve designed a floor plan in my head that I’m ready to run with after I put it on paper. I’m assuming a 15yr window before major maintenance is due, I’m thinking $100 per foot for construction.

I'm in the process of setting up an LLC for our investment business right now and i'm kind of in the same pickle....... EVERYTHING is overpriced! Little chance of getting close to 1% without going multifamily.

Yeah I think it also depends on whether or not you’re simply investing in real estate as a part of a portfolio for retirement or if you actually want this to become your livelihood. Now most people are going to keep other investments in the mix but for the people trying to invest in real estate for the purpose of owning their own life, I can see a much larger segregation of cash into that bucket. I think that’s what gets me. I love building, have a background in design, and want to eventually own/develop as much property as I can. At this early stage though, feet get a little cold, the “what if’s” rear their heads, etc. It’s probably not until you look up and realize you’ve purchased 200units that you really know you’re headed in the right direction.

@Brian Gerlach

I have not tried that one yet. My two vanguard staples have been vfinx and vht. Both have performed relatively well only bested by my scant amount of Apple stock I think :-)