All Forum Posts by: George M.

Thanks Kira.  Will do.

Anyone wish they would have moved up faster?

Thanks for your insight and that’s a huge gain for 3 years.  Nice work!  Anyone regret going bigger?

1st week of September is the deadline for year long leases.  Interest will dry up for months after that. You may get some transfers looking for a January 1st move in after that point for spring semester. Most college rentals start leasing in December (or earlier) for the following June 1st move in date.  

Thanks Hadar. I started with duplexes then moved to 4 unit properties because they tend to do better on a cash flow basis.  

However I have seen better value appreciation in the duplexes.  I unloaded one for that reason. 

I started out self managing but have since switched to using a property manager. I still self manage one duplex though because I enjoy it and I can manage one property and hold down a full time career.  

I read a response a while back from a pro who shared a story of a lady who traded some solid performing low cap properties for higher on paper cap rate multiplex in another market that was a disaster.  Just curious of other people’s stories since we seem to be at that crossroads.  Wait a bit and save for a larger property or keep picking up decent 4 units.

Thanks for sharing your experience. Did you find the 12 unit in MLS or off market?

Right now I have a handful of 2 and 4 unit properties. I have seen the benefits of multiple units under one roof, foundation, etc...

My current properties seem to be reasonably profitable over the last couple years. The next steps we are considering are adding more 4 units vs. higher unit properties. I’m concerned about the “grass is greener” outlook for higher unit properties vs the 4 units that we know.

Can anyone chime in that has made the jump to higher unit multiplexes? Pros/cons/regrets/wish you had scaled sooner?

Thanks!

Congrats on making the leap into real estate investing! It is good that you are asking questions and thinking frugally.

My team is very frugal. We have found that finding a solid CPA, Attorney, and Agent are worth every penny. They save/make us money instead of cost us money.

@Alan Grobmeier This is a challenge I have been wrestling with lately. After unwinding a headache property for a solid profit, the plan was plug that cash into another deal. Well those deals are tough to come by lately.

We have more tied up in cash than typical, but when opportunities come up we can move quickly. Online checking accounts are paying 1.75% (which is poor but reasonable for liquid access and 0 risk).

Right now MLS listings in our market are a waste of time. The market is hot and deals go quick if you can even find one. Opportunities lie in buildings that need more work than typical and having the foresight and ability to accurately estimate realistic costs for improvement. Patience is your best bet right now (even though it's hard to sit tight haha).