All Forum Posts by: Anthony Gayden

@Andrew Syrios

Take a look at what happened in Kansas City with tenant activists blocking entry to the courthouse. This stuff can spread to places in the Midwest that were considered friendly to landlords.

@Justin Badillo

I would buy single family rentals, use the BRRRR method to add value and hold onto them for appreciation/debt pay down for a minimum of 5 years. I would then sell and use the 1031 exchange to purchase larger properties.

So basically I would do exactly what I’m already doing.

A lot of people feel the same way you do. They are the people who grew up and were told that money is "Bad". That being rich will make you a bad person. That there is some sort of moral sin to be doing well. There are a lot of people in my family who feel that way. All of them are poor and they blame others for their financial problems.

This is a real estate investing platform. A lot of the people here are business minded people who want to achieve financial success. A lot of people, including myself, have built large amounts of wealth through their hard work. If you listened to the entire episode they actually discussed this very topic in the episode. 

If discussing wealth is a taboo topic for you, you need to look into yourself and ask why. Why are you upset that these other people are doing well? 

@Matthew Wilson

I’m married and have a daughter. Still I have done that strategy. I bought a primary residence with 3.5% down, lived in it for a year, then moved out and turned it into a rental. The next house I did the same thing with 5% down conventional, but I stayed there 2 years. I did this a third time with 5% down conventional and stayed there 2 years as well.

Having a family isn’t a reason not to do this strategy.

@Brandon Pace

I’m going to attempt to answer the thread title question. There are a few reasons why so many suggest to go multifamily/commercial. Here are the reasons I went that route.

It is because it is a longer and slower process to scale single family rentals. I bought an 8 unit last year (package of 4-duplexes), and it took far less time and effort than purchasing 8 individual SFRs. Management is easier since they are all adjacent in one location. Financing was far simpler. Adding value is a function of increasing cash flow rather than comps.

The amount of effort and time I spent buying those 8 units is equivalent to the effort and time of buying one SFR.

Without going too much into your personal finances, I am going to assume that you make at least $150K a year. As another person in that category and working in a career field that requires a lot of time, I came to the conclusion that buy and hold rentals were the best option for me.

I self manage four single family homes in my local market of Omaha, and the truth is that it doesn't take a lot of time or effort on a weekly basis. These are B class properties with good tenants, so they are very easy to manage even though I work 60+ hours a week, am married and have a young child. Still there is a limit to how many investments like this I could manage as I am too busy to handle more.

I also invest out of state and use property management. I own small multifamily in the Kansas City metro area and a property management company handles pretty much everything else except for the big financial decisions. Moving forward this is the path I will use to continue to grow. I haven't done turnkey yet, but I am considering the option.

@JD Martin

Facebook Marketplace is a potential Zillow killer when it comes to listing rentals.

@Dennis Tierney

I just joined MOPOA and attended last night’s meeting.

Hello from another investor here in Omaha.

If you are looking for a market with homes at a similar price point to Omaha, but with much lower property taxes, I suggest Kansas City, Missouri. I own rentals both in the Omaha area as well as Kansas City area, and the taxes in Missouri are much lower.