All Forum Posts by: Clara Brashear

Hi Sam! I am also relatively new, I got a job as an acquisitions agent at an investment firm. I learned a lot there and am planning to do my first flip and buy a rental this year. I suggest working somewhere in the field and getting your foot in the door and taking it from there. It helps to learn a lot from people who know what they're doing. Best of luck!

-Clara

1 Vote

How much would it cost to build a house around 3 bed 2 bath and around 1400 square feet?

0 Votes

Originally posted by @Rick Baggenstoss:

One or two short term rentals would do it. You can also set up more as you travel, live overseas. Although you'll be traveling, you'll be adding STRs to your portfolio. You, of course, have to pick the right places.

Where are you going, @Clara Brashear?

I would like to live somewhere in Europe. I am trying to learn how to rehab houses and flip so I can make some cash to make down payments on rentals

0 Votes

I am a beginner investor and would like to start wholesaling. How would you recommend I start/learn? :)

0 Votes

Originally posted by @Stephanie P.:

@Clara Brashear

House hack. House hack. House hack.

Use the resources you have available. Find a 2-4 unit property and use an FHA loan to buy it. Lowest down payment with the most flexible terms and if you have multiple units, the rentals should pay the mortgage plus.

Then do it again in a year or so.

By then, you'll have some money saved for your first conventional purchase or who knows, something else like a seller financed property may become available, but by then you will have some experience as a landlord and some money in your pocket.

Best of luck

Stephanie

Thank you! When you say 2-4 unit property, do you mean a duplex or a condo?

0 Votes

Originally posted by @Canesha Edwards:

@Clara Brashear

It depends on your financial situation. Do you have money currently to put a down payment on a property?

If you need $3,600 to be comfortable, I would suggest you go the multi family route. I say this because I've never know a SFR to produce more that $200 per door, UNLESS is was bought all cash. Small multi family could be a good option for you.

To answer your second question, is it possible in Atlanta? For the average investor, my answer is no. This is because the market has been flooded with Wall Street money or out of state investors who are looking for markets to park their money. Average investors can’t compete with this type of competition. They can take lower returns on their investments than what the average Joe investor, which allows them to pay higher prices. I’ve seen houses sell for far more than they are worth.

My advice would be to look at the secondary markets in GA. Not as much competition in these markets, which means there are still deals to be had. Unfortunately, I feel the time of finding a good deal in Atlanta has passed. Just my opinion though.

Hope this helps.

Canesha

Thank you! I think I should go for a multifamily, but is it ok to have a multifamily as my first property? Most people say single family is better to start. Also, when you say small multifamily do you mean a duplex or a large house with many rooms? Why is a multifamily more profitable?

0 Votes

I would like to own 10 rentals in the next 7 years. If I have barely any money where do you suggest I start? Should I adjust my goals to make them more attainable?

1 Vote

Originally posted by @Taylor L.:

...As many as you can!

You might actually want to look at multifamilies as well. If you have the means to acquire a number of single families, you'll get better economies of scale by putting the same number of units under fewer roofs. If you're overseas you're going to need 3rd party property management, which also works best with more units.

How much net cash flow are you going to need every month?

I would love to look at multifamilies. Most people tell me to start out with single families for my first property though. I would like to eventually net 3600 a month from the rentals. How doable is this in the Atlanta market?

0 Votes

I want to start flipping as well as be able to do my own contracting work. How does one begin to learn about being a project manager/contractor without needing a license? Is there a way to be involved in a project and getting experience/knowledge before giving it a shot on my own?

0 Votes

All Forum Posts by: Clara Brashear

Clara Brashear has started 14 posts and replied 22 times.

Post: BRRRR Method explanation?

Post: Advice for 20 year old to get into real estate

Post: How much to build a house?

Post: How Much can my property generate?

Post: How to start wholesaling?

Post: Rental Property Financing

Post: How Much can my property generate?

Post: Rental Property Financing

Post: How Much can my property generate?

Post: How to become project manager?