All Forum Posts by: Kerlous Tadres

Hey Madhan, I would recommend focusing on multi-family properties, especially in markets with better cash flow. These offer higher returns compared to single-family homes. If you’ve maxed out conventional loans, look into creative financing options like seller financing or partnerships. You could also explore out-of-state markets for better cash flow opportunities. If your single-family rentals aren’t giving you the returns you want, selling some and reinvesting in multi-family could be a smart move. Keep it simple, scale with higher cash flow properties, and consider leveraging your equity.

 Hey Clemens, welcome to BP!

From my experience, building solid relationships with wholesalers and other local investors can be a game changer for finding off-market deals. Driving for dollars is always worth it. I’d also recommend connecting with agents, contractors, and property managers; they often have the inside scoop on deals before they hit the market.

To scale faster, I’d recommend exploring creative financing options like seller financing or private money lending, which can reduce your down payment burden. You might also consider refinancing some properties to free up equity for new purchases.

Managing contractors remotely can be tough, but it’s manageable with the right local help. I would recommend having a trusted property manager or local contact to oversee the work and send regular updates. Use video calls or an inspector to check progress.

Hey Phyllis, focus on building a solid foundation with your first multifamily property by ensuring you fully understand the numbers and the local market before diving into BRRRR. The BRRRR method can be a great way to scale, but it requires a good understanding of property values, rehab costs, and market rent potential. I'd also advise you to network with local investors and property managers in both your current market and the areas you're interested in expanding to. This can help you build a reliable team as you grow.

 Congrats!

Hey Tara, I’d suggest connecting at local meetups or through online real estate forums like BiggerPockets. Having someone you trust can make a big difference in building your portfolio. As for funding, if you don’t want to use your credit or personal money, consider private lenders or hard money loans. You could also explore seller financing or other creative financing options. Paying off the loan with rental income is definitely possible, but make sure the property’s cash flow covers all the costs involved.

I would recommend a long-term rental for more stability and consistent cash flow as a first investment.