All Forum Posts by: Garrett Hawk

Hello Mia,

I use the 2.5% rent rule in higher crime neighborhoods. That way even if you are stuck with a property and can't sell it, it will still cash flow. I usually only factor cash flow and not so much equity that I'm building if I'm investing in those neighborhoods. Especially if its not easy to sell a house in that area. 

Best of luck!

Hello Sherwin,

I used conventional financing through a local bank and paid twenty percent down.

Thank you for the podcast!

Hello BP,

I'm considering doing my first syndication for a $2 million 51 unit property in the midwest. I personally own 50 units but I am new to the syndication arena. I have the rent rolls and tax returns for the previous 5 years and used to manage the property for a previous owner. The property will produce a 13-15% cash on cash return. I am currently the listing agent, buyer's agent, syndicator and my company would manage the property.  What are some ways to structure this deal so I can under promise and over deliver but also retain a good chunk of equity?

Appreciate the feedback!

Garrett

Hey Ryan,

I agree with James on what your goals are. If you are just looking for your money to bring in more income, then I would go with private lending. The majority of private lenders that I have met have already built and sold a multi-million dollar portfolio. As far as building your net worth as well as depreciation and other tax advantages, I would go with acquiring more properties. Feel free to PM me if you'd like to chat more!

I have a former tenant that I am trying to track down so I can serve them papers. (Missouri landlording laws)

I have their working phone number but I know they won't give me a current/work address.

Any ideas on how to find out this information?

I am starting to invest in Class C neighborhoods for the first time. (Previously stayed in Class B and above)

What are some recommendations for screening tenants and rent collection?

(Bigger deposit? Background Checks?) 

Open to suggestions!