All Forum Posts by: Hyacinth Dolor

It’s always a good time to invest especially if you’re house hacking and the numbers makes sense. Think of your process and your timeline. If you invest during a good market and have spent a few months doing Reno etc you’re only preparing yourself for the next crash. You’re also getting your foot yet in the business. I purchased a few properties during the crash and almost every other year since. Both the crash investments and the regular purchases are similarly profitable. As a matter of fact the non crash ones are even more profitable now due to such demand for units. Since house hacking requires lower down payments you could be left with some extra cash to be ready for the next crash. History shows there’s always a crash. That’s how the market corrects itself. The bigger question is at what point do you know when is a good time to dive in. Answer- Yesterday. 

Thank you Thomas for sharing your approach. Greg, I thought about that but I will get into such investments in the next 10-15 years. The reason is my kids are still very young under 3 &10 and my oldest 24 with no interest in real estate just the money lol. I’d like to see if my kids would really like that kind of investment first. It takes a lot for someone to get into real estate at such a large scale. My wife and I are plan on retiring in 16 years before she turns 55 and would only come in USA 4 months a year. So my long term goal is to have a property with lots of income and on one site. I know this sounds like little ambition but paying off debt is primary to us. We do not use credit cards and cash only. I know all about the benefits of expanding and leverage but I think my wife is allergic to debt. She was so uncomfortable with our first mortgage to the point I had to rent it out and buy another cash to get her hair to grow back. Not kidding. So my old school strategy is a safe balance for both of us. She likes the ability to just pick up and travel to Asia or Caribbean anytime. I think syndication would be best and stress free in the future but now I’d like to stay busy and not only be a stay home dad with minimum landlord repairs.  

Thank you Guys and Gals for the ideas. Molly, Todd is right on. Peter, one roof idea is my ideal search in B+ area (North end or North Bpt). David is right. Not easy finding a good 1mil $ deal on north east coast. I’d prefer to go in alone since I’m qualified for a 1mil loan and putting all the cash. I’d probably go the route of learning the multi unit (high rise) operations with someone prior to purchasing. I’m a very experienced landlord so the concept should not be too difficult. My experience with partners have failed due to my doing. I tend to outwork everyone, very competitive in terms of meeting goals and putting the best product first. In my past experience with partners, they tend to go the cheapest route but want the Jones money.  I do not lower my standards. My last multi sale I put in the best appliances and granite in the worst neighborhood and sold it the highest ever in neighborhood within 1 hr on mls. I Tend to think big and bet on my skills. I think I’d go crazy with partners going cheap in a B+ to A neighborhood. I’m in for the long run. 

 Thank you Peter. I’m trying to keep roofs to minimum. 

Molly, I’ll reach out to you. Thank you 

I’d like to purchase and hold. Pass on down to kids. 1-2 million. At least 10 units

I would like to get into the commercial multi-unit. I have $300k as deposit and about $200k in equity in my properties but not sure where to start besides mls and loop net. Currently, I have a few properties and try to keep a maximum of 4 properties due to me being owner operated, contractor and Realtor. I would like to remain site contractor due to my abilities and love the work more than the free time. I can put a team in place for electrical and plumbing. I will hire office manager and get my broker license to have site manager do my leases. The reason for this change is I see myself getting tied of running from one property to another shortly. I need input from Bigger Pockets. Help me find the correct avenue to start my goal of owning a high-rise within 12 months. I would like to stay away from partners and investor teams. 

Thank you for you advice.

Closing cost and Reno was included in my numbers. Also the $1790 included mortgage, interest, insurance and tax. My operating expenses was and still is $350 monthly which also includes paying a helper once in a while. I spend less than 3 weeks per year on my properties in total. Managing, snow removal etc. I guess my experience and aggressiveness towards work I take for granted. My approach to my rentals is "we are all one family" and it's worked so far. I'm old school with almost zero overhead and all these ROI, 50% rule stuff. At the end of the day I guess I don't value my time like others do and it actually works best for me and my family that we can pick up and travel anytime we want. I'm almost certain at my rate I will have about 2 million saved up to retire in the Caribbean in 7-10 years.

I respect your calculations but my taxes differ And support my numbers. I do all my Renos. Twice in 15 years. I have not had vacancies. Neither on my 2 family. 1 tenant 15years and other 9years. 

Sounds good Greg. I bought in a B+ neighborhood. I just Renovated 1st floor and increased rent by 45%. Considering same for second floor but my tenants do not like moving out of my places. Average stays 6 years.