All Forum Posts by: Dustin Murphy

Hey @Dustin B.,

Would you be able to PM me that appleton CPA as well? Looking to establish similar services in the area. Thanks!

-Dustin

I do love the idea of owning for a while and creating a trail of paid down rentals instead of selling outright, but the wild card is a wife and kids. School districts, physical moves, and spouse approval all have substantial weight in such a strategy. If I was single and flexible; I would be using a house hack or own and move/rent strategy for sure at least while building the business. However personally I don’t think that either of those scenarios are in the cards for me. More options for those single individuals or flexible families though!

@Fran Bourassa yes this makes perfect sense and it does answer my question thank you for your insight. Very interesting thoughts on competitors and their impacts. I think it’s becoming apparent that cash flow is important and still vital to hit the ground running, but diversification for other types of real estate investing benefits would be a near future goal as well. I think the key to putting this together is how long holding onto a W-2 is a good idea to mitigate risk and accelerate start up based on replacing cash flow and maintaining a certain level of risk. It’s clear there is a give and take with certain attributes of each type of investment strategy. 

Regarding the locum/travel medical professional housing market, great recommendation! As for cash flow and reverse engineering, as I am getting started educating myself there is a TON of media on “How to become financially free”, How to quit or not quit your day job etc. Then you go ahead and drink from a fire hose with all the information (albeit helpful and insightful) about the details. However if someone starting out actually wants to have more financial freedom it seems to me the bottom line is cash flow. So at least in my mind it makes it easier to set cash flow goals that satisfy my desired lifestyle, and work backwards. Then figure out a strategy that aligns my cash flow goals with my best strategy to succeed. 

@Fran Bourassa

Do you specifically find upper/lower duplexes to be the majority vs side by side, or did you just mean duplexes in general vs other types of investment properties in the single vs multi family space?

Thank you both this is very helpful! I wanted to have short term rentals eventually either way and this insight puts it a bit more at the forefront. Going to keep doing the homework and see what shakes out!

I’m thinking some creative niches could also be very helpful in expediting this process when combined with short or mid term rentals. 

Hello all, very interested beginner here. I’ve started self educating on real estate investing with the goal to take action later this year or beginning of 2024. Specifically looking in the state of Wisconsin (Madison and/or Green Bay markets). However my questions apply to a more over arching strategy in addition to regional nuance. 

Q. If your ultimate goal in REI is a specific cash flow per month (example $5,000, $10,000, or $20,000), then what are your thoughts on ways to get there in the shortest amount of time if you were to reverse engineer the units/rentals needed to generate that cash flow per month? (example: should you strategize acquiring 50 single family rentals at cash flow of $200 vs multi family homes vs apartment complex etc, where you could theoretically jump right into multiples higher cash flow) Are there other factors besides the relationship to size/number of units, up front cost of acquisition, and cash flow that would be a necessary factor in acquisition of any of these solutions if they "theoretically" presented the shortest path to the desired amount of cash flow per month?

(Also understanding property management either self or outsourced would need to be accounted for in addition to many other expenses)

Lastly, is there a known “generally universal” pattern to the difficulty of acquisition of any of those types of investments vs the other (other than amount of money). Example, 50 unit apartment complex might be fastest solution, but in your area there are tons of legal road blocks or competition, so for “fill in the blank reason”, it would actually be quicker to acquire 50 individual rental homes despite the slower potential total cash flow acquisition.

Hopefully that all makes sense or at least paints a relatable picture as to insight I am hoping to gain that others may be curious about as well just starting out!

-Dustin