All Forum Posts by: Adam S.

@Evan Alexakos

No pressure! It took me about 6 months to buy my 1st SFR after starting the BP podcast rabbit hole:) I'm buying SFR and small MFs that will likely be converted to larger buildings or syndications years from now. The great thing is you don't have to stick with one strategy your investing career. I've been trying to not have the shiny object syndrome while I build my portfolio. Bumps and bruises along the way but I get excited to talk real estate. Again, good luck on your adventure!

Thanks, everyone!  I will take all your opinions under advisement.

BRRRR by David Greene

Also, I second Brennen Thompson's recommendations.

Spend a few months reading the books and listening to podcasts. But jump in...the water's fine! ;)  Seriously, find something that interests you (i.e., wholesaling, buy-and-hold single-families, etc.), set a goal (i.e., buy a fix-and-hold), and take action. The last part is where the real learning takes place.  The other parts help to mitigate the risk though.  Good luck on your journey!

It might be something I need to look into. In my case, I'm right across the river. I may not reside in Indiana, but I can respond quicker than someone in northern Indiana. Thanks!

Hello.  I'm considering self-managing a rental in Indiana from out-of-state.  However, Indiana Code 32-31-3-18 (IC 32-31-3-18) states that landlords are required to disclose in writing the names and business addresses of: a person residing in Indiana authorized to manage the premises and a person residing in Indiana who is reasonably accessible to the tenant and who is authorized to act as agent for the owner for service of process and receiving notices and demands.  Does that mean that I cannot self-manage?  Do I need to hire a property manager in Indiana?  Thank you in advance.

@Sheena R Roth

I’d reach out to your local section 8 office and see what it takes to get the property under section 8. It’s pretty quick here, but the inspections take a while. Getting her approved for section 8 may take time as well, but let them know the situation. They are people too and may have other options for you as well.

@Becky Haag

I agree with @Greg Scott. I want to match my financing with the asset. If I need to rehab, a short term loan is fine. But once it’s rehabbed and rented, it’s time for a long-term financing solution. I’m ok with the cash flow, especially if you can build equity and exchange for a better CF property later on.

Good luck with the journey!

@Steven Wilson

When you have used the zero APR, how much on your line are you asking for? I've been wondering how to finance some rehabs and this seems like a viable strategy for me.

@Sean Laney

I hear this a lot and go back to what others say…why are you investing? Is it for the short term or the long term?

All the things you list are viable options; it just depends on what you are trying to get to in 5, 10 years. You could use a 1031 with your current properties and get into a MF or commercial property. You could cash out refi and buy an Airbnb. But why are you doing it? There’s no “right” answer. There’s a right answer for you. Good luck!

@Jason Nguyen

Like David Greene says, what’s your strategy? Are you looking for cash flow now, or are you playing a longer-term game?

If interest rates are affecting your numbers that much, then maybe you can stress test your deals more. I don’t look at deals for short-term returns and see what changes in a number of variables would do for my deals. That way, I know I have some cushion for various scenarios (i.e. a global pandemic).

Good deals are out there. Some may need more work. Remember that people were renting properties were near 18% in the 80s. Good luck on refining your strategy!