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All Forum Posts by: Dwayne Clarke

Dwayne Clarke has started 11 posts and replied 22 times.

Post: Investor Friendly Insurance Company - Macon, Warner Robins, Byron, Lizella Area

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

@Al D. Thank you very much for the recommend.  I'll check them out.  Have a great day!

Post: Investor Friendly Insurance Company - Macon, Warner Robins, Byron, Lizella Area

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

Good day,

I trust all is well! I'm looking for an investor friendly insurance company for properties in the Middle Georgia area. Properties are under an LLC.

Thank you in advance! Have an incredible day!

Best Regards,

Dwayne Clarke

Post: Multi-Family Investment Question

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16
Quote from @Corby Goade:

There will always be risk. There will always be people talking about this "crash" or "correction" that is just around the corner. 

They might be right. They might not. Search the boards on BP about a market correction from 2019 and 2020- there will be plenty of those posts and property values nationwide are up 2-3x since then. 

Someday they'll be right. I'm sure that'll feel good for those people. They'll be broke, but they get to say "I told you so."

I've been doing this for 25 years and literally every day I have heard this. If I worried about that, I'd still be sitting in my cubicle. Thank god I just took action and realized that there is opportunity all around everyone all of the time. You just have to open your eyes to the possibilities. 

Go get some for yourself!


 Thank you very much!

Post: Multi-Family Investment Question

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16
Quote from @Javier Mercado:

I think it just depends on the deal & cap rate. It’s tough to make multifamily cashflow with rates as they are if you’re financing. If you’re getting a 6 cap when rates are 8%+ those numbers may not make sense. I would argue that it also depends on your goals as an investor.

I love multifamily because you can scale much quicker with buying multiple doors in one transaction. If you have the capital and you’re looking to build the portfolio make, sure you have enough breathing room to account for any short term corrections & you’ll be ok. Residential commercial (5+) has peaked IMO but with the housing demand so high and prices stabilizing, more people are being pushed towards renting which should keep your vacancy rates low. 

Underwrite extra conservatively upfront and you’ll save the headache down the road.

Best of luck!



 Thank you very much! I really appreciate the information.

Post: Detached Accessory Dwelling Unit (DADU) in Macon GA

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

Good Day all,

I have a property in Macon GA , a 1/4 acre of land with a house and a shed (brick foundation, wooden frame).  I'm considering converting the shed into a DADU to maximize the use of the space and earn some extra income. 

Anyone have an experience and/or advice on how to get this accomplished?   Thank you in advance.

Post: Multi-Family Investment Question

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

@Stacy Raskin and @Michael Smythe thank you very much for the information and for your candor.  I'll use both bits of information in my journey. 

Please have a wonderful rest of your day!

Post: Get 5+ Properties in 2024. Is it possible with $50K?

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

Good day all,

Thanks for taking the time to read this post! I'll have access to $50K in liquidity in a few weeks or less and I'd love to get 5+ cash flowing properties in 2024. I don't necessary have to get them all at once but hitting that target would be wonderful. My plan is to buy and hold because I'm here to play the infinite game for me and my family. I have 1 SFH in Macon GA that originally started out as a section 8 that I bought from another investor then it went sideways. After almost 2 years of trying to find resources, and $40K spent, I have a decent tenant who would like to stay and I'm slowly recouping from the event.

With that said, I’m still open to section 8, because not everyone on section 8 mismanages their opportunity, and I’m also open to regular tenant. If all possible, I’m also open to multi family opportunities.

Any advice is appreciated.  Thank you in advance for your response.

Best Regards,

Dwayne 




Post: Multi-Family Investment Question

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

@Jessie Dillon and @Samuel Diouf thank you both very much for your input. I about to pull about $50K from my SFH in Middle Georgia and I'm planning my next move. I'm looking in Macon/Warner Robin Area but I'm open to looking at Ohio as well.

I’m going to need to ramp up on the Ohio market, find property manager, get a team together, look at ways of scaling with $50k. I have my work cut out for me!! 

Thanks again.

Post: Multi-Family Investment Question

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

Good day!! Quick question. I’m a new investor with 1 door and was recently cautioned about purchasing multi-family properties because investors are dumping them, especially 5+ doors, in anticipation of a Market correction. 

Anyone have thoughts on the matter? For the record, I’m from south Florida but invested out of state because it’s so expensive in this part of the country. I hope to build enough capital to eventually invest at home.

Thank you in advance for your response.

Post: Cashout Refinance in Macon GA w/Tenant Paying $1000/mth

Dwayne Clarke
Posted
  • New to Real Estate
  • Florida
  • Posts 22
  • Votes 16

Thanks for the input everyone, I really appreciate it.