All Forum Posts by: Cody Ruff

@Thuy Pham-Satrappe For small multifamily Properties I would worry more about cash flow. I worry more about appreciation when I’m buying up single family homes that I know I’m going to hold on for a while that are in good locations with good school districts

@Stephanie Martinson I would definitely do a 1031 exchange where you can close on that property then find one of similar or more value to put that cash flow into. One of the greatest advantages I think of the 1031 exchange is that you can use that over and over again. Also once you pass away and if you will it your kids or whoever. Whoever inherits it doesn’t have pay the capital gains tax.

@James Perdomo Congratulations on your Deal. This just shows that with persistence and realizing that real estate is a numbers game anything is possible.

@Elissa Winters Attend local real estate investor group meetings in your area. Also look up and see if their are already realtors in your area that are working with investors and see if they would want to expand their portfolio with you if you specialize in a different area in town or a different area of real estate.

@Samuel Viscio One of the best ways to get started in real estate where you don't need a lot of money is house hacking. You can buy a duplex live in one unit and rent out the other. This helps with saving bills hopefully if the deal is good some free cash flow at the end of the month. The advantages of house hacking is that if you are going to live in your unit for a year and you have a credit score of 580 you can qualify for a FHA loan where you only have to pay 3.5% down compared to the usual 20-30% down that is usually required for a conventional mortgage bank loan. In the Midwest you can get this duplexes for pretty cheap sometimes with only about 15-20k down and can use bank financing to finance the rest. Hope this helps. Good luck on your real estate journey, bigger pockets, and thank you for your service.

If you have no cash their are other ways that you can help the investor that you have. You either have cash, knowledge or hustle. What Brandon turner calls the deal delta. So if you don’t have cash see how you can help with your local real estate knowledge or your willingness to hustle and work hard to bring value to the investor if you don’t have a lot of capital.

@Brandi Graham I would start with going to local real estate investing groups which are free. You can meet great people there that might turn into a mentor and you also you can get a lot of free information on your local market, good deals in your area, and what seasoned investors do through out the deal process.

@John Dellinger Sorry to hear about all that I’ll definitely steer clear from them. Thanks for the recommendation. I’ll look more into them. Yeah that sounds great. I’m always around the Evansville and Newburgh area so if you want to meet up sometime for coffee and we can discuss business and real estate. I’m a novice at this so anytime I can put someone in my network and learn I’m more than up for that. Thanks again for the information. 

@Nathan 

@Nathan Beach Thank you for the feedback. ERS Management is one that has been mentioned several times. I’ll definjtely look more into it. Thanks again. 

@Ed E. Who is the Property Manager that you work with? I’m currently looking for a good and reputable property manager in the Evansville area. Thanks.