All Forum Posts by: Eric Gerakos

I would keep in mind that buying with low to no money down will result in big payments. Just make sure you have plenty of cash reserves to cover unexpected repairs, vacancies etc.

There is a learning curve to fix and flips. I hope you are being mentored and not jumping in with no experience in this market.

1. Have a clear goal before you invest with an exit strategy. 

2. Don't convince yourself that you can make a rental property work if the numbers don't work. It's all about the numbers.

3. Buy A and B properties for more appreciation and higher quality tenants with fewer problems. 

4. Don't be real estate rich and cash poor. Have plenty of cash reserves.

I would reconsider your goal of owning 8 rentals. More units isn't always better. Often cashflow and profit can be better with fewer units. It's not the number of units, it's the profit from each unit and total profit that matters. 

You can, "work with them" by helping them load their moving truck........

Keep in mind 2 things. 

1. Many people who claim to "own" hundreds of doors on BP just have partial ownership through syndication. 

2. Owning hundreds of doors and possibly being in a bad financial position isn't the goal. It's not about the number of doors, it's the profit from each door that matters.

For me, never.

No.

Low appraisals are a common problem. Had one last year for a cash out refi and I just supplied my own comps and appraisal was adjusted.