All Forum Posts by: John McDonald

For a cool $2.9m, this bad boy can be yours. The comps in the area are selling for between $1.1M and $1.5M but are all on less than 5 acres.

https://www.realtor.com/realestateandhomes-detail/249-Croton...

https://nypost.com/2024/01/10/real-estate/overgrown-westches...

Here's a link with more photos

https://www.secrethike.com/post/the-eerie-remains-of-david-a...

100% is a tough ask. I'd suggest that you JV your first deal or, as @Jay Hinrichs mentioned, try to pull a little equity from your tri plex. Or, if you have a great property, but can't pull off the financing, wholesale it to another investor. 

Good luck. 

As mentioned already, the DSCR won't allow you to live in the unit. I would first find out what loans you qualify for and how much you can borrow and then go from there. If the amount of $ you qualify for doesn't allow you to buy a multi-family then start with a smaller home and flip it, working your way to the larger unit with you living in one of the units. If you do qualify, for enough then def. go for it!

A possible option is buying something near a major hospital. You take the master bedroom and then rent out the other rooms and bathrooms to traveling nurses, or you convert the garage. You get the point. Be creative and figure out a way to make it work based on the feedback you get from the VA loan specialist.

Hi @Dayna K hicks. Good lessons to be learned here about keeping your eye on tenant needs and keeping the units current, which both keeps tenants happy and paying on time. 

Great work. 

Cheers,

Hi @Dee Sivad maybe check out RentRedi. Might be a good fit. 

https://rentredi.com/

Cheers,

 Hi Robert, are you referring to the "build to rent" approach? I agree, this is working in Texas too. 

You have to be willing to fix up the properties but they can still be found.

We consider properties nationwide and would love to connect on any deals you have. 

Cheers,

If your parents have good credit, you could ask to be added as an authorized user on one of their credit cards. This can help your score, as long as the primary user maintains good credit habits. You do not have to have a copy of the card or use it, so your parents will be more likely to say yes.

While there are several cities across the U.S. where the BRRRR method can be effective, it's often best to start investing in your local area, especially as a new investor. The fact that you are asking the question speaks to my first point. Becoming familiar with your local market is much easier.

It's easier to manage the property-especially if you hire someone else to do it. You can't drive by to see it with your own eyes. 

You also need to build relationships and that's much harder by phone and e-mail.