All Forum Posts by: Alex Olson

@Brad Babiak I would add apartments.com and zumper.com. Yes, Zillow has been the best for us as well. 

@Hud Floyd Hey Hud! Active and involved as both investor and CRE agent. DM to continue chat :)

@Jon Hilfiger yes you can use a HELOC to finance any part of a deal you need to.

@Ty Doke Is this your first deal? If so I would shy away from this scenario. if it is too good to be true, walk. You need your first deal in any market to be low risk and low reward.

@Mathew Fuller My suggestion would be to find a partner in your area that has done it before. What you learn will be worth every penny - even if you break even. In real estate, most of the battle is how and who...once done you can do it again.

@David de Luna What is the purchase price? You can DM if you would prefer. 

It really depends on your strategy. I would shoot for as high of leverage as you are comfortable. You can find lenders in the KC area that will go as low as 20% down for your investment property but you definitely have to shop around as banks are always changing their requirements. As for rents - the 1% rule of course is ideal but most investment properties are evaluated initially on cap rate. Cap rates in B, C areas are 6-7% right now. Hope this helps. 

@Justin Glotzbach Depends on age of property, last time appliances were replaced, HVAC replaced, roof replaced. If in good condition, I figure on $1000 per unit for a 4 Plex.

@Kaitlyn Bjerk have you thought about near turn key? With this, I mean, you can rent it out as is and make improvements over time. With all investing in RE it is about location, location, location..

@Zaid Bender It depends entirely on long term strategy. Do you want to keep buying in one market or be spread out across multiple? Do you want appreciation or cash flow or both? I would select a growing but affordable city like KC, Indianapolis, Raleigh area, or Fort Worth. It is steady, nice, increasing and still affordable.