All Forum Posts by: Lee Spencer

Hello Gents,

Thank you for the words.

Joel, I hear what you are saying about the markets in California. I'm open to investing in other states but I think the first one should be in driving distance from our residence. It's funny but we were briefly looking into Georgia for a 4plex. The distance is the killer for us right now.

Christopher, I had to look up the definition of ARV (after repair value). Thank you for that. I also hear what you are saying about comparing apples to apples and I'm doing my best due diligence for this project.

Again, thank you and if there are any ideas for places to invest with good rents to purchase ratio that would be greatly appreciated.

Lee

Hello,

My wife and I are starting the journey of becoming landlords.

We have the approval letter from the lender.

We have the 25%-30% ready to put down.

We have the area in mind and property ready to see.

We have a realtor.

What we don't have are basics and I'm sure there is a lot to learn. I'm looking to see what kind of ratio we need with the property to make it a good foundation to build on (good investment). It seems that there is not too much positive cash flow in properties we have looked at. Maybe just enough to maybe cover all the cost of ownership except for our time. Thoughts?