All Forum Posts by: Jay J.

I'm curious also..  I've heard a lot of good things lately about storage units..

The best thing you can do is start young, so you already have a leg up on most people! Do a search on 'flipping houses' and start reading through the forum posts. There is a wealth of information in the forums and in the Podcasts!!  Oh, and welcome to BP!!

No lie, I'm big on formulas and mathematic equations to calculate risk/ reward/ etc..  but as you sort of sugested, I think this is more of a personal tolerance question....that said, I'd love to see a 'BP approved' method.

This is a great place to start --> 

http://www.biggerpockets.com/starthere

..not to mention all the resident experts here that are more than willing to help!!

Welcome to BP @Robert Baker !! There are literally dozens of posts here on BP about how to calculate ROI, what steps to take before purchasing, and a whole host of other helpful tid-bits.

As others have said, a 6-plex would fall under commercial financing, as opposed to 'typical' lending. Remember to do your due diligence and make sure the numbers work...  but numbers only get you so far if the building is sub-par..

Good Luck and keep us posted !!!

If you've lived (and I assume own) the house, why not tap some of the potential equity in the house and use that as a down payment on another.  Rent your current first floor out and move on. 
I understand the issue of wanted 'good long term tenants' but not at the cost of your own sanity..

Zach - $100k/yr cashflow is a great goal (I have the same one) but doing it with 27 or any large number like that is unrealistic.  Finding 27 properties that fit your criteria and are profitable would very difficult, even over a 15 year period. (you could always look out of state also, but that has its own issues)

But to answer your question (at least from what I've read) most investors scale up at a certain point. Meaning- initially they buy a single family or a quad. Then, some time later they buy a second and third.. but eventually, when you have like 10, you need to sell all those single/quads for something like a 25 door building.  At that point, you're also adding in appreciation of the buildings you own, but that's the basic idea..

Once you start to scale up, the real 'passive income' generation starts.

 You've come to the right place. BP is made to help people with RE questions. Do a search in the forums for local RE attorneys, there should be several results to look in to!!

Good luck !!

Hey all Cincinnati folks! I just wanted to drop a line in our (I can say our, right..?? like, us from Cincinnati) totally awsome sub-forum!

Hope everyone is busting out deals and working on the next one!!  and if not, hopefully you're learning about the process!!

Welcome to BP-Cinci !!

 I'm signed up also...

..yea, and curious about that fb page too...