All Forum Posts by: Curtis Rouse Jr

Hey @Steven Wade as others have mentioned, I would definitely be looking for employment while still pursuing real estate in the meantime unless you have a nice chunk of money saved on the side to do things like marketing and education to get you started. With the abundance of money out there for deals through hard money or private money you don't necessarily need the money, just a good deal and possibly some reserves just in case unexpected scenarios arise (they always do fyi). Best of Luck!

Hey @Paul Aqua my advice if you were an investor would definitely be to outsource, but with this being your main job if you're unhappy and it's not driving you anymore, then you should pursue other employment. I know my property manager has burnout daily as she wears many hats, but at the end of the day she enjoys dealing and helping out our potential/existing tenants and other individuals that we transact with in our business. This ultimately comes back to your "Why" and where you see yourself long term. Best of luck on your decision!

Hey @Mellanie Winston welcome to BP! Congrats on getting started and seeing that you want to get started to wholesaling, I would definitely take a look at a guy named Max Maxwell on YouTube (also has a FB group) who has some really good information for beginners. There are also some really good podcast here on BP if you search for them that provide plenty of knowledge. Main thing is being consistent to your investment strategy and not to deviate with all the shiny objects so to speak in this business. Best of luck!!!

Sounds like you need to get rid of the tenants and PM company ASAP. I own both SFR/MFR's and cleaning ducts shouldn't cost that much so that is one instant that they are definitely screwing you on. As others have mentioned, find a good local attorney who can handle the eviction or depending on what side of town I have my manager who can help out with this eviction/stabilization process. Please advise if we can help as we mainly focus in Middle Ga. Best of luck!

@Mayer M. What kind of template are you looking to analyze multi family value add properties. Like a financial model for analyzing deals? If so, I help investors underwrite deals and would gladly help (see examples on my website). Let me know if I can be of any assisstance.

@Terry Bernard Lanier my recommendation for what you are trying to achieving, especially in the beginning is reach out to more seasoned and experienced investors that have already been down the path you are heading down. You can always reach out while you are building your network/learning to help out the young guys. In regards to the contracts, what type of contracts are you needing because there is every imagineable contract posted here on BP in the form section that can save you time/money. Wouldn't worry about contractors as much because they are plentiful, just need to find a good deal and get at minimum 3 quotes with references and always pay on a draw schedule with no money upfront (from my experience). You don't really need a realtor with zillow, redfin, trulia, etc out there to compare and look at comps, but if you need a realtor know a couple I can pass you there number. Like yourself, most realtors in particular don't want to check comps, they want you to be a serious buyer/seller or provide some good leads for their business. Let me know if you have any other questions!

Hey @Scott H. I know this is me being biased as I'm in the MFR space, but I would advised to not pay down your mortgage as you would have dead equity just sitting in your house not multiplying and making you more money (unless you are in a crazy hot market with appreciation). @Lien Vuong made a good point to get in a smaller SFR (2-4 units) where your tenants would pay your mortgage and you could use the excess money for investing for retirement where your money is constantly working for you (depending the yields from your investments). I hope this helps and Best of Luck!!!

Welcome to BP @Terry Bernard Lanier!!! How I would approach this conversation is to first put yourself in that position to be of value to someone else by meeting them at local REIA's (I'm a member of GaReia), BP or out in the community. In my opinion there are 3 key components that make up real estate (Money, Time and Knowledge) and all you need is 1 of these to be effective and get started. In your case you have low funds, no problem, but you have time or the knowledge you can add value to someone. Use one of these to meet those key team member to build your network. I'm on the Commercial side owning a couple apartment communities currently working on syndicating a deal, so if I can be of any assistance message please let me know. Best of Luck!!!

Hey @Justin Ross Congrats on achieving all your success so far and having that much equity on hand. No doubt I would package both of those houses and 1031 Exchance into a larger Apartment Community in a heart beat. I would definitely not look to exchange to a complex near Denver where you are located unless you find a killer value add deal where you can ride on the upside of this hot market we are in. I would definitely look in the Southeast where I am located like Georgia, Florida, South Carolina, North Carolina, Texas to name a few where you can buy at a little bit better cap rates that yield better returns. If  you ever need any help underwriting or looking at any deals on this side of the country, feel free to message me at anytime as I shop large apartment communities every weekend and would love to help out. Best of Luck!!!

Welcome to BP @Liam Thomas!!! The BP community has taught me literally everything I know as well and has provided a wealth of knowledge over the years. I'm currently in the MFR space owning a couple apartments down in Macon, Ga and currently in the process of analyzing and looking at as many Apartment Communities as I can for my first syndication deal, so if you ever need help with the analysis side let me know. I've built a financial model (example on my website) that I personally use and help investors analyze smaller SFRs to the larger multi million apartments communities. Best of Luck and keep us updated on your progress!!!!