All Forum Posts by: Joseph Waitkevich

Hello all

My partners and I just purchased two 4-family homes in Houston, TX. As it turns out, there is overdue rent owed on both properties. Is this rent owed to us, the new owners, or the previous owner who sold the property. On one hand we bought the property, for all its risks and all its benefits and on the other, it was initially owed to the previous owner but perhaps was one of the reasons they chose to sell. Curious as to who is owed the rent in this situation and the legality of it all. Thanks! 

My advice would be to continue to learn as much as possible. I saw a few people who responded to say not to invest just yet and that may be good advice. This is evident because you mentioned you don't yet know the type of property you want to invest in. Everyone has their own preference and interests so I wouldn't listen to any one person telling you to invest in this or that. It's about what makes sense for YOU. Once you find your niche so to speak while it may seem limiting it will actually open the door to more opportunities because you'll know what you want and you can focus solely on that type of property. You guys will figure it out though, your willingness to learn and ask questions is what sets you apart from a lot of people, just make sure you are actionable once you have everything nailed down, Good luck! 

Hi Nate, 

I am a recent college grad and as you can imagine, didn't have much saved up to put in 20-25% down on an investment property. I partnered up with my brother and longtime family friend who had been working for the 4 years while I was in school. We are forming an LLC and will set it up so I can pay my share as we continue to build our portfolio until we are all at equal shares at which point we can move forward as equal partners in any deal we make.

My point being, if possible, find a partner(s) who does have sufficient savings so you can get your foot in the door so to speak. What I did was handle a little more of the day to day things to make up for the differences in money put into the deal. There are of course other ways to get into real estate with little or no money down but that is how I did it.

P.S. Brandon Turner has a book "Investing in Real Estate with No (or Low) Money Down" which sounds like it would be a great learning resource for you at this time. Hope this helps and good luck!

@Tony Castronovo

My initial thoughts are multi-unit properties to rent by the room to students

@Quinn Olivarez

We haven’t narrowed it down to any specific school or area, just in the information gathering phase to see if it would be the right fit for us. Although we did look at a student rental property for Prairie View A&M University.

Hi everyone, myself and my partners from Massachusetts are currently in the process of purchasing our first investment property in Houston. One thing we are curious to learn more about are your experiences with student rental properties. Is this something worth pursuing right out of the gate or would you suggest getting experience with traditional rental properties beforehand? 

I am interested to know what it is like to invest in a student rental property out of state. Do property managers charge a higher rate to manage a student rental? Is it worth it to invest in a student rental when investing out of state or is it too much of a headache when you can't be physically present? 

Recent graduate currently living in Massachusetts. Due to unfavorable landlord-tenant laws as well as a crazy market driving properties up. I was wondering how feasible it would be to start with out of state investment properties? For additional context I am currently partnered up with my brother and longtime friend starting out our real estate LLC (both are 4 years into the workforce).

Do you have any advice for a soon to be graduate on how to manage time with a full-time job while also working to invest in real estate (multi-family rental properties). 

I am currently in college looking to learn as much as I can about real estate investing so I can hit the ground running after graduating this spring. What advice would you give to someone in my position who isn’t quite ready to invest but will be in less than a year?