All Forum Posts by: David Fischer

@Allen McGlashing yeah that’s good advice. I appreciate it.

@Mike Hern hey Mike it’s not to far away, about a 3.5 hour drive!

Hey y’all,

I’m looking at purchasing a 6 unit apartment complex in a rough side of town. This side of town is known for higher crime rates and is just plain rough. I don’t live in the area so I had a family member drive by and tell me what she thought. Her description was the building was scary and made her feel pretty uncomfortable. There were windows boarded up and an eviction notice on one of the doors.

The sellers realtor tells me the property is being managed by a professional property management company- which I’ve tried to call but haven’t been able to get ahold of them.

The property has been on the market for awhile and I believe I can get it under contract for a good price. After running the numbers I’m looking at an 18% cash on cash return and a 27% total return.

What do y’all look out for when investing in the sketchier neighborhoods.. what risk do you take on.. and what do y’all do to reduce the risks? Or would you avoid this even if the numbers make sense?

Thanks in advance!

@Brandi Scharrer @Benjamin Vail have y’all looked into Canyon, TX just a few miles south of Amarillo? There’s also Palo Duro Canyon State Park a few miles to east of Canyon.

@Zoran Stanoev awesome thank you!

@Caleb Jordan thanks for the input.. I’ve been looking at all the options (especially I’m creative financing) and trying my hardest to do my due diligence as this is all new

@Jason D. Ok thanks, yeah 10% down is about my target down payment for the properties I’ve been looking at.

I've been analyzing a few different properties and am looking to buy my first rental using the BRRRR strategy.. I am currently waiting to hear back from the bank to see what I qualify for, but since I will have a low down payment I know I will have to use a FHA loan or go with a hard money lender in order to rehab the properties. With that being said does anyone recommend a specific lender? Also, what happens if I go with a hard money lender and I can't get a bank to refinance?

Hello, my name is David Fischer. I’ve been a stock market investor for years now, but real estate just grabbed my attention recently.

I am interested in buying real estate and holding as rental properties for the long term. Probably doing some BRRRR investing, as I don't have a lot of cash on hand.

If anyone has any advice I’d greatly appreciate it!

Thanks!