All Forum Posts by: Kevin Lanphear

Thanks and my bad. Forgot to mention, we have a nice primary home that we are not going to move from anytime soon so we are not interested in house hacking. Hope that helps.

I’m seeking some advice regarding my early stages of building my rental real estate portfolio. I’m currently 33 and live in north metro atlanta. About to close on my first investment property in late January and will have around $50k cash available left to purchase a second and third property under $200k purchase price each.

Here’s a summary rundown of my first property specs and finance-

Property #1 - $233k purchase price. 20% down payment. 30yr fixed conventional loan with 3.125% interest rate. single family new construction. 4bed 2.5 bath 2038 sqft home on a 1200sqft culdesac lot. Closing in late Jan 2021. Mortgage payment (PITI) will be just under $1100. Rent will be around $1750-1800. Property management company will be Mynd for $159/mo. Net cash on cash roi around 11% if my math is correct ;).

Wondering what I should look for or do for the second and third properties...

Look for TWO ready to move in homes, minimal to zero renovations. Then just rent them out shooting for same net cash on cash roi?

Or find ONE BRRRR property that uses up all my cash but allows me to do cash out refinance to then do the third?

Or find ONE duplex with minimal to zero renovations needed and rent them out meeting the same net cash on cash roi criteria?

I’m totally open for out of state or whatever meets my numbers and doesn’t eat up all my cash, since after my third house i may be all out of cash until i wait a year or so to do a cash out refinance on my first or second property to then allow me to buy the fourth and then fifth...and so on...

Any advice would be great, thanks!

@Jerry Chatman Yay thanks!!!

@Lynne Bowers Awesome! yeah PM me and we can try to connect

thanks @Joe Cassandra yeah Im going to need at least $1750 plus its brand new construction 4 bed 2.5 bath and huge culdesac lot ;)

@Joe Cassandra oh nice! its over at the Cartersville Baseball Complex area.

yeah Rentometer was terrible... other mgt companies use another tool but forgot what it was called. much better than rentometer though....

I’m in acworth but having a rental property in Cartersville. I’d love to network and i will be seeking my next few properties in metro atl or maybe out of state.

@Jingru Sui let’s connect I live in acworth and I am building my first rental property in Cartersville and close late Jan. Then I’ll be wanting to buy #2 and #3 soon after that but unsure whether to stick around metro atl or go out of state.