All Forum Posts by: Jennifer McPherson

 Thank you Nate!  I appreciate the information.  I am starting by finding properties and analyzing so I get a better understanding on the multifamily side of investing.  I appreciate the info very much.

Captains log - Day 1 of achieving my BHAG goal in 16 multifamily doors.

Maybe this is a dumb question but either way I am asking.  Is the BP Rental Calculator the best tool to use for analyzing multifamily properties?  Or does someone have any other opinions about the best tool they use for this analysis?  

THANK YOU!  Appreciate your information. 

As my husband would say to me - Here We Go!  Hold on tight.  :)  Earlier I said to maintain accountability I would be posting updates on my 2023 goal of purchasing at least one multifamily (my real BHAG is 16 units in total) in year 2023 here! 

Albeit, this update is not groundbreaking, but I am a FIRM believer in education and investing money and time in learning as much as I can along the way.  I just signed up for the Bigger Pockets Multifamily Bootcamp course by Matt Faircloth and Justin Fraser.  

I am going to start a vlog journal too (as soon as I decide to get out of my jammies!).  I want a well-documented journey that really shows the realistic path.  I own a marketing agency that I started 4 1/2 years ago and know first hands there are so many ups and downs in the journey and wish I captured all of them to replay - especially when the going gets tough, it is always great to be reminded of all the successes you really have had along the way. Plus, the easiest way out in life is to give up, documenting the journey will add one more level of accountability.  I HATE losing more than anything!  

I would say wish me luck but it is not so much about luck as taking the time to learn, taking action, taking calculated risks, and just taking a step.   This is step 1. 

 I am not planning on acquiring with a partner at this time at least.  But I will never say never!  I have checked on Syndications but the issue for me is that it ties up a large amount of cash for a few years.  But... I am not opposed to syndications, just have not really given it much thought really.  

Congrats Joe on your goal too! Super exciting. I will use BP deal analyzer, also will be doing tons of research on my own, via Zillow and other platforms, research what has sold in the area, what are the rents in the area, is the area in a location that is up and coming etc! I have started just looking in various areas around the country to see where I really want to focus on. Our other properties are STR in TX, which I really love but the tax on property is crazy in TX (yes... it is much higher if you have a rental vs. personal home - you can claim homestead if you live in the property). We are able to mitigate the high taxes on our STR because we get a lot more money monthly with the STR.

I am also 100% confident that my numbers won't be right.  In all the Single Family deals I have done the numbers have never ended exactly where I thought they would. Personally, for me it is a longer game - I know as long as I am making even a tiny profit, overtime it will only get better.  I would love to hit a home run of course!  I am also not very fearful in general, and I am thankful I was born with the attributes I have.  It makes it easier for me to jump in and decide.  

I look forward to seeing how your journey is going!!  

 Thank you!!!  I am really excited for 2023!  Step one - in preparation I ordered a separate planner strictly for this goal. Step 2 - coming 1st of Jan (got way too many year end things the rest of Dec, holidays and even a week vacation to squeeze in!  

Oh.. I see you are from Shelton - I grew up in Poulsbo, WA!  lived in WA my first 30 years of life now am in Colorado!  

I am the kind of person who needs to "say it out loud" to people to hold myself to it! I am tired of feeling like I am dipping my toe in the water! For 2023 my goal is to purchase a large multi family by years end! Now for some this is gravy…. We have only purchase single family and currently STR them. I have always been one to go bigger or go home. Well I really do not accept losing or going home. I just keep working until I can make something happen!
please join me on this journey as I will be posting my progress here to remain accountable and not slide into easy!  

#2023Goal  

I am in CO and we just purchased a rental in San Antonio a few weeks ago using a DSCR loan. Not a scam at all! MoFin Lending @George Despotopoulos who is on Bigger Pockets!  Literally the easiest loan I have ever got!

What percentage of your mid-term renters come from Furnished Finder vs. AirBnb/VRBO?