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All Forum Posts by: Joseph High

Joseph High has started 2 posts and replied 69 times.

Post: Can you invest with as little as $10k

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

Hi @Marduk Mooshoolzadeh

You most definitely can - you don't even need $10,000 to get started!

What type of strategy are you thinking that you would use that money for? 

Post: Minneapolis Multifamily investing

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Adrienne Harrison

Not sure if you saw this or not, but Minneapolis has also disbanded single-family zoning. So there will be a new wave of multi-family development. Here's a link to a pretty informative article: Politico Article

Post: Turnkey Property for First Investment

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Michael Bonanno

Turnkey is a great way to get started, but it also begs the question of what is your definition of turnkey? Are you thinking of doing some work yourself, or are you wanting to be as hands off as you can? 

Additionally, make sure that you vet your turnkey provider correctly. You're doing the right thing by starting out here on the forums, but the right provider makes all the difference. 

When talking to your prospective providers, ask questions about the systems and processes that they have in place. As has been mentioned on the podcast, you want to work with a provider that is running a business, not a provider that had some spare time on their hands and decided to start a property management company. 

Post: How to organize rental portfolio

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Michael Choy

If you haven't already, I would highly recommend listening to BiggerPockets podcast episode 343 on systems, processes and checklists. 

When you mentioned organizing your rental portfolio, what do you mean by that? Do you mean managing them, managing vendors, or acquiring more properties? 

Post: Rental House Loan little Income

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50


@Lucas Lawson 

What is the big thing that he is really after, is it the purchase price, the monthly payment? Or does he just not want to do owner financing at all? 

Post: My investment plan. Need someone to review it

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Jeffrey M.

A HELOC is a revolving line of credit whereas a cash out refinance is only a one-time lump sum amount of cash. Additionally, your credit should not be dinged on a HELOC until you pull from your available balance whereas with a refinance, once you apply for it, you will see a hit on your credit score.

Post: Real Estate Broker who is a general contractor. Helpful or not?

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Paul K. McCoy

I work for a property management company that is a real estate brokerage, licensed contractor in addition to offering full service property management. That's been a huge selling point for us when talking to investors. It really simplifies the process for our investors because we can identify potential acquisitions for them, do updates/rehab work on the property, place a tenant, and then manage the property. 

Post: Real estate license in Alabama

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Colby Easterling

I used OnCourse Real Estate for my licensing course. I used it because it was cheaper than most other providers and it had one of the highest pass rates in Tennessee.

Check out which providers have the highest pass rates in Alabama. 

Post: Looking to make first investment on 4plex! HELP

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Latavia Banks If it is part of a 12 unit portfolio, ask to see if they have a rent roll for the property. Then do your own research to see if what they have provided is realistic or not. 

Additionally, another big piece of information is to find out if there is any deferred maintenance. HVAC, roof, water heater, etc.

Post: Is there a target IRR real estate investors typically look for?

Joseph HighPosted
  • Specialist
  • Nashville, TN
  • Posts 75
  • Votes 50

@Shawn McCoy Thanks for reaching out!

Not sure what terminology is used to describe the risk profiles of investments in PE, but for real estate, each risk profile will have a general IRR range. That being said, core assets are going to be around 8-12%, core plus assets are between 12-15%, value add are 15-18%, and then opportunistic are 18%+.