Originally posted by @Chris Virgil-Stone:
@Karam A Tascoe congratulations and nice job!
Regarding portfolio lenders...you shouldn't need one. US Bank will lend under 50 in the Georgia area, just talked to them last week. There should be others too. I've found a handful of others in the markets I'm investing in. Max out your 10 mortgages before you go portfolio, unless you decide to go 5+ units.
Regarding your choice not to BRRRR, I respect the cash only path, however you mention that you're interested in partnerships. While every partnership can lend different benefits, that's exactly what a lender is. The major benefit of a lender is that they are a cash partner with little control over the investment.
I'm assuming you're using a management company? Obviously time will tell but I'd love to hear how they work out. I've looked at the Columbus market a little (have some family down there).
Chris, thanks for that detailed response. I am not using a property management company. This is my first completed property. Im not sure what they can do that I cant do myself. I like engaging with people and tenant do scare me so its no problem for me to interview, mangae and evict if necessary. Once I get to 10 properties I might consider a management company but right now its easily done. I am going to reconsider the BRRRR strategy in April if the economy is still stong, Actually, I think a HELOC is the better option but who knows. Its good to have options. Im truly grateful for all the responses and support.
