All Forum Posts by: Anthony White

Thank you everyone for the message - Just a quick update... 

I just sold 2 duplexes that I purchased last year for great profits and paid off all the debit associated with the homes, credit cards (Home Depot) the Line of Credit and pocketed close to $30k. not bad!  

I am now waiting for my line of credit to reset to buy again and am looking for more deals.

I still have 11 doors that are doing great! I plan on updating the 8 unit that I have and I think I want that to be a LONG term one for my children - as I see improvements coming to the area. 

Thank you!

I appreciate you input - again I am not a guru, a year ago I had nothing. But i feel like buying in a A/B neighborhood would have allowed me to only get 1-2 doors. When those rents don't come in - that is where the payments would have hurt me more. 

This way with 15 doors - it really only takes 2-4 doors to pay all the bills for a month - everything else goes into reserves and savings. 

Please let me know what you think I should do next or what I should have done. I am always trying to learn. 

Thank you!

 Months and Months of research over Texas, Arizona, Utah and others here in CA

I used a Heloc from my primary residence, and 8 months later- got an unsecured line of credit.

For my homes and SFR - I buy them all in the same zip code - it makes it easier for me to ask my PM to go by and check on things personally.

I think thats the difference - because I have someone that is willing to really put in work like myself  - she will physically be out there with showings and checking on maintenance etc. rather than me wait for an email or the system to update. 

The 8 Unit I purchased, is the next town over, but one great thing about Memphis is it seems like everything is no more than 20 minutes away. A big difference from SoCal. 

Go the Unsecured line of credit for a new business route. Its basically what your doing... 

I have my Realtor and PM going by - but I basically call and do everything to make sure everyone is on task progress is being made. I get pictures and videos - plus I have the inspector I hired initially go back out to the property to make sure all is good before the big lump sum payment is made. 

My PM manager is incredible - she does a lot of the running around there - she doesn't just sit by the phone and computer waiting for checks to come in to take her 8%

I have not used any turn Key Companies - I have spoken to tons of of them though. 

What I see is that buying from them I really buy at the top of the market and have no equity. Having equity in the deals I buy is my exit strategy for emergencies. Because I'm not rich, I don't own tons of things - EVERY DOLLAR COUNTS. 

Plus I'm not afraid to do the middle man work, finding a deal, getting an inspection done, having my realtor and PM take a look at it and researching the area on line for  recent sales, rentals etc. 

So once I have my team in place - I feel like I can do it myself and with my own team to save money. 

What area's do you work in and are looking for properties in?

I have different alerts on Realtor.com, Redfin, Zillow, Hot Pads etc. All in the ares that I buy and want to rent in - So I learned the area quickly and I compare my properties with others daily. 

 At the moment because I try to be involved as much as possible, I love learning and there is no better way for me to learn than being hands on! As of today, I would estimate from 10-15 maybe 2 hours a day - Including going through my first big rehab and renting out the 4 doors I just purchased 2 weeks ago. 

But maybe just an hour a day or less normally. 

 The Majority of my properties are in the University Area, blocks within the University of Memphis. The 8 unit property in in a rougher neighborhood and it is the most work, however it brings the biggest return.