All Forum Posts by: Jefferson Simmons

Absolutely. I bought 8 houses on the street I lived on in college, and have bought 5 houses on the street I currently live on. Opportunity is everywhere for those who are looking for it. Let everyone you know what you do, and deals will come your way. I am lucky to live in a college town with a military base nearby so our tenant pool is deep and I am still able to keep homes cash flowing despite home values skyrocketing. 

Hey Blair! If you are looking for educational materials, and you’re in an expensive market, David Greene’s “Long Distance Real Estate Investing” is a great resource. Dives into all the pieces you need to set up a team in a more affordable market.

Zach,

You’re on the right path! Let’s connect. Would love to talk shop with you on the phone sometime!

Scott,

I am using Apartments.com for rent collection and Stessa for my financials and reports for my CPA. Both are very user friendly. I love recommending these to my clients that are just starting out because they are free! Your portfolio is large enough to sustain to a Buildium account. I tried Buildium but went back to Apartments.com because it was just easier to use.

Hey Michelle!

Congrats on starting out! I use Apartments.com for rent collection. It’s free for you & your tenant (unless they pay by credit card) and the user interface is simple to navigate. 

Ryan,

Welcome to BP! You’re on the right track by starting here. Tons of great resources to help new (and seasoned) investors.

Shawn,

Congrats on finding a deal! If I were in your situation, I would try to connect with another investor on this site in your area and explore a partnership on this one. I’m sure you’re not wanting to split your profits, but a slice of a good deal is better than 100% of nothing!

 Hey Michael! I have been in this market for the last 5 years and almost all of my properties are rented by students. With the exception of properties that are under active rehabs, I have never had a vacancy across 22 units. The homes here are very affordable too, which makes it a nice entry-level market.

Thanks, Will! I plan to hold it as a part of my portfolio for the next couple years. I am actively growing and improving my properties along the way. Hoping to sell the entire portfolio to a big buyer and 1031 into a triple net commercial property or possibly some high-end short term rentals. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000
Cash invested: $75,000

Whole house rehab on this one! $180,000 all-in, and it's now rented for $1,900/month.

How did you find this deal and how did you negotiate it?

One of my clients brought it to me.

How did you finance this deal?

Cash

How did you add value to the deal?

Rehabbed entire house

What was the outcome?

High-end rental producing premium rent

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the agent on the deal.