All Forum Posts by: Christopher Bell

Anyone else have any input?

Hey BP!

It’s time to take the jump into Rental’s....

I’ve flipped a few homes to generate the capital and now I’m ready to begin building my portfolio to lead me into early retirement and attaining financial freedom.

I'm not a versed to the BRRRR method - and that's a focus for me to build the portfolio. However, I've been looking at potentially starting with a more turn-key approach.

I'm primarily looking in the South Jersey market and I've come across quite a few condo's/townhomes that have relatively low HOA's and seemingly would have a good cash/cash return. With 20% down my monthly payment would be around 900-1000 and rent for 1400-1500. Doesn't seem too bad. However, are condo's and townhomes a waste of time? Single family homes generally appeal to a wider market. Appreciate more. Have longer term tenants...am I sacrificing too much going with a condo/townhome? I'm in a position that I could acquire 3,4 of these with this approach. Is that a bad guide?

Thanks for your input....there’s probably some that I’m

Missing out and would love your expertise and guidance.

Thank you!!!

Jagan, Thanks for the reply! I'm not far from Sterling. I'm there a lot for work. I know that NOVA/DC Metro market is extremely hot! I'd love to try and find something in that area! I agree with that person with a 250k place in a warzone not being a good investment. It appears that some here suggest a BRRRR type strategy to building the wealth. I'm not against that - and believe it could work. Just don't know if some who have started where I stand would have said I would buy more doors quicker. Or if some would say don't waste your time with smaller $ investments. Buy higher value investments

Alina, Thank you for the response! The commitment, desire, and dedication to succeed are great examples of how I would absolutely describe myself. This has been a dream/passion of mine to create a large enough portfolio that could create wealth 24 hours a day. To answer the "why" it's to become my own boss doing what I love and building a team to keep the freight train growing exponentially. I do have the 15 hours a week to spend dedicated to RE.

Do you have any suggestions on books/podcasts to learn about MFH investing?

@Luis Vaca

Thanks for the reply! That’s the direction I was initially leaning was work on renovating a few properties and building a portfolio that way. However, I thought is that the best way? Sure they would cash flow a bit but would be a if a 6-8 month seasoning. Or is it better to get the instant cash flow by buying a turnkey rental that would cash flow right away. Or, just dive into multi-family properties.

Some of my question is directed to some of the seasoned guys on here asking - if they went back to day 1....what would they do to scale quickly

@Joel S.

Joel, thanks for the response! I have not bought a multi-family property. Flipped 3 SFH but not any MF.

@CJ M.

Great, follow-up. With 250k how would you invest it

Any other insight?

Hey BP!

If you had access to 250k cash - How would you invest it. This 250k is cash no interest. What would you do to quickly grow and scale this money? Next, who would be silly enough to lend that money free and clear but what if?

Would you BRRRR? It seems like a great strategy. Lots of steps where the process could go wrong - But the juice could be worth the squeeze.

Would you look to invest in turn key single family homes? Condo's? Townhomes?

Would you look into Duplex/Triplex's?

Would you look into a higher price point, with potential for appreciation, and potential better tenants. Or be able to buy twice as many at a lower price point with similar cash flow?

How would you look to scale the business to be able to grow exponentially? I see 250k investments that would yield a 300-350/mo cashflow - But is a 45k down payment the right way? 

What does everyone think? I see lots of posts regarding these individually but collectively what is a good general concensus?

Kareem,

Thanks! I look forward to attending!