All Forum Posts by: Chris Bynion

I'm on vacation this week and caught a new show on HGTV called Renovate To Rent. It's about a couple of young guys, one a RE agent and the other a GC, who buy distressed properties, renovate them to a condition above what I think the average renter would expect and then rents them out. I was curious if anyone else has seen this show and if so, what their thoughts were? They supposedly have in the neighborhood of 50 units and seem to do above average renovations. I think they operate in the Minneapolis area. I'm curious, how could they be funding all this with a buy and hold strategy and what your thoughts are on their strategy in general given the current market conditions? Is it a sign that the end is near because this show is now on HGTV?

I'm just learning things myself. Have a couple of questoins:
current rents is listed as $2,825 per month, but you have $25,380 listed as the annual rent. $2825*12=$33,900. Am I missing something? Assuming it is $33,900 you would be in the positive by $5,660. But that would only be $117.92 per unit. That seems low to me. Are all your rent calculations based on current rents paid? Would you be getting more rent for the converted unit with the new bedroom?

I just joined the site a couple of days ago. I stumbled upon it by accident and from what I’ve seen so far, it looks like a great resource for someone like me. I’ve always been interested in real estate, but have no real experience in the field. I always had some vague notion of someday starting to invest in real estate, but haven’t had the knowledge or resources to do so. I have some savings now and am finally ready to pull the trigger and would like to start slowly investing in real estate after learning as much as I can to build passive income so that I will have greater peace of mind and more control over my own life. I have a good job now, but I’m tired of worrying if it will be there next year. I’m not looking to get rich quick, but want to learn as much as I can and take baby steps into investing in real estate while minimizing my risks. I know there are some inherent risks no matter what the investment vehicle, but I want to be as smart as possible so I don’t lose my shirt.