All Forum Posts by: Kevin Knowlton

@Canesha Edwards that is what I was thinking. Offer what makes sense as far as the numbers are concerned and if it works then great. If not, then I can move on.

There aren't many listings on MLS in my area that I would consider decent deals. I have found many listings that have been up for well over six months that for a bit of a discount seem to be worthwhile. Has anyone has much success targeting MLS listings that are quite stale and putting out low, but reasonable offers? When I see listings that are up for quite some time I wonder if it is an issue with the house or the price. I suppose it doesn't hurt to put an offer after looking at the house. The worst that can happen is that it is rejected. Curious if offering on older listings is a strategy that others employ. Thanks.

Hello everyone,

I am looking into buying and holding as a means to assist with my future retirement, and possibly to help fund my childrens' education.  I have a good career making six figures and I am not looking to quit my day job.  My wife is at home but the kids are now in school so the plan is for her to manage whatever properties we purchase.  She is on board for this.  If it ends up being more than we bargained for, we will look at professional property management and will take that into account when we look at the financials of the deal.

There are opportunities to purchase a couple of different multifamily apartments ranging from 6-8 units, and of course there are a number of single family homes.  I am sure there is no right or wrong answer to this, but if any of you were in my position, which way would you lean?  Cash flow would not be huge in my area due to housing prices being high and rents being on the lower end.  I know there are pros and cons to both, and I understand that I did not include any numbers in order to make an informed decision.  What I am essentially asking is if you could start from scratch and you could come up with the money for a down payment fairly easily, what direction would you take?  Liquidity is not an issue since it will be a long-term investment unless something happens to me and my income takes a dramatic change.  I am self-employed in a stable career that should not have any major hiccups, but who knows what the future will hold.  I am finishing up my year end for taxes now so I am hoping to pull the trigger on something soon after.  I am sure that I will get a variety of responses here, but any input is welcome.

For those who may lean towards multifamily, are there any books, online courses, or in person courses that you would recommend a person look into prior to the purchase.  I believe I am analyzing the properties well, but I am just concerned that I might be missing something.

Thank you to all who take the time to reply.

Regards,

Kevin

Has anyone taken the above titled course by Pierre-Paul Turgeon either online or in person? If so, would you be able to rate your experience and give an idea of how useful it was? Lots of different courses out there to consider. I am willing to invest the money to take the course, but I just want to make sure it is a worthwhile investment. Thanks.

Hello,

I have heard that property owners have been hit with huge increases in their insurance on multifamily homes since a cap in rates was removed. Has anyone experienced this? If so, how high did the rates rise? Was it enough to push your cash flow into the negative?

Thanks.

Kevin