All Forum Posts by: Dean Thoms

Thanks so much @Nathan Murith! It would be great to see the script you use when interviewing PMs. I really appreciate the support of this community!

Ah, thank you @Andrew Postell. A blanket loan sounds like just what I had in mind. 

I'm definitely learning that it is going to be a bit tricker to invest in low income homes. It seems lenders and property managers shy away from them due to increased risk (real or perceived).

Wow, thank you Drew! I am blown away by the helpfulness of this community with my first few posts. I'll check out the series you put together on screening a PMC.

Thanks Tracy! That sounds like a great, simple question that could help filter out many PMs.

Thank you Nathan and Elliott! These are both extremely helpful!!

Thank you Peter! This is really helpful.

Hi - I would really appreciate some advice regarding conventional loans. For context, I am a first-time / would-be investor (based in Southern California) interested in purchasing a handful of SFR's in South Georgia. The properties are in fairly low income areas but are currently cash flowing. My goal would be to acquire 4-5 single family homes and use a property manager to rent them out to tenants. My analysis shows that I could expect decent returns if I take on leverage.

Unfortunately, I have heard that I may have trouble getting a conventional loan due to the low acquisition cost of the properties (approx. $40k up to $60k each). Is this accurate? Or is there a way to bundle the homes and get a "portfolio loan"? 

Are there any lenders that I should reach out to directly that could answer this question?

All advice / recommendations would be greatly appreciated from this beginner investor :) 

Hi - I would really appreciate some advice regarding hiring a property manager. For context, I am a first-time / would-be investor (based in Southern California) interested in purchasing a handful of SFR's in South Georgia. The properties are in fairly low income areas but are currently occupied by tenants at below market rental rates.

As I am on the other side of the country, I would plan to hire a property manager to handle anything that requires physical presence (e.g., maintenance, handing over keys, screening tenants, showing the property, etc.). My hope is that this would be a VERY passive investment and that the property manager would handle the bulk of the work.

Am I being naive that I would be able to find a property manager like this? How can I vet a property manager to verify that they are adequate?

Any advice or recommendations would be greatly appreciated! Thanks!!!!