All Forum Posts by: Garrett Hawk

@Patrick Staker Hello Patrick, You’re definitely thinking the right way! I personally would put a greater emphasis on cash flow if you are looking for a first rental. I would look for a property that rents monthly for 1.5%-2% of the purchase price of the property. Feel free to contact me directly if you would like to talk more!

@David Harley Hello David, I have a management company and I would say there are some things to look out for. I personally wouldn’t pay as much attention to %s that they charge compared to their fee structure. What do they charge to rent/advertise an apartment? Also, what do they charge for handyman services. Some companies may only charge 8-10% to manage, but charge you $50/hour for their on staff maintenance guy that they pay 20-30/hr. Thats just my short piece of advice. Feel free to contact me directly if I can be of any more help!

@Jermaine Bibb Feel free to contact me if you’d like some advice starting out! I talk to a lot of guys in their mid 20s and give them a few tips to help strategize.

@Sean Glomb Hello Sean, I would suggest partnering with or finding someone who would be a private money lender. If you learn how to creatively finance deals through non traditional lending, then you can still purchase properties and start building equity. Feel free to contact me if you would like some more advice. Best of luck!

@David Lant I currently own an apt complex with 20 units rented to section 8. There are additional paperwork and inspections. However, if you screen them for criminal background checks, I haven’t had much trouble. I also recommend buying them in smaller/ low crimw markets. I also average 95% occupancy and often have a waiting list.

I love the idea of starting out with a 24 unit property. There are plenty of resources out there to learn as you go. I personally would have started with a bigger property if I had the funds at the time.

I personally will purchase a D class property if it's in a C class neighborhood. I don't have a problem with section 8 as long as background checks are run and I don't have a problem with crime.

I currently own a 45 unit complex that cashflows $200/door (after mortgage and expenses)

However, on my smaller 2-4 unit deals, I need to see $350/door or it's  not worth it.

Hello!

I have an investor that wants to loan myself money on a note out of his IRA for a flip I am doing.

This is my first time dealing with self directed IRAs and he has not dealt with this before either.

What process do I need to go through to make sure he doesnt incur any penalties for violating the "no self dealing" rule?

Appreciate all advice from those who have done this before!

Hello Frank,

I'm an agent, property manager, and experienced investor in the Kansas City and Northwest Missouri area. I would be happy to set up a phone call to meet you and see how I can can help you in achieving your investment goals.

Best Regards,

Garrett Hawk