All Forum Posts by: Justin Rank

I'd jump all over this. Just make sure it is actually a good deal. I wish my family had a triple in the Boston metro.  : )

Welcome to the BP family! Lots of good threads on here, spend some time learning and you will go far.

@Kristopher Werner I totally get it! Two things I would suggest trying. Work an absentee owner list where you are looking to buy and then drive for dollars. If you see some place you like write them a letter. You can usually get an accessors database from the city/town you live in and figure out 1-4 family and who lives separate from the address. Also, check out Flyhomes.com. They are going to launch in Boston early next month and it gives you the ability to make cash offers for owner occupant 1-4 family homes. They make their money by getting the realtor commission and charging you rent until your loan closes. 

Welcome to BP! Lots of good info on this site. Always be learning and you will be ok!

I'm just curious, what things have you been doing to find a deal? We are closer to a downturn in the economy that a rebound from a bottom, but no one really knows. We don't even know what it would look like, we aren't facing the same pressures like we did in 08. The next downturn could hit stocks and barely scrape the housing market.  It's not the time to be overly aggressive, but if you are a long term buy and hold investor it's not impossible to find the right deal. I have been using a portfolio approach right now getting x amount of units each year similar to what I do with my stock portfolio. Some years I will buy higher in the market and some years lower. When we cycle into a buyers market i can be a little more aggressive in adding units but that is not stopping me right now from finding deals.  When I sell my portfolio down the road I should be in pretty good shape. 

@Sean OToole Any plans to expand PR nationwide? 

I'd like to revive this thread and see if anyone is having success with Remine? If not remine, what are you using?

Does anyone else have any feedback on the lead data from REI pro?

At the end of the day, we're closer to a top than a bottom. Don't be overly aggressive on deals. I don't think we will see anything like 08 as each recession is different. When I run numbers, I also run a second set of numbers saying if rents and property values went down x percent, would I be ok. If the answer is no, I move on.

The bottom line looks thin. I usually am looking for $150-$200 a door and I have a rainy day fund for each unit I hold(my cash, not borrowed). I do not recommend pulling out more than what is needed if you do pull the trigger.