All Forum Posts by: Kristofor Rahmas

Dealcheck.  I use it all the time.

Curious to hear what people have to say as im attempting to start my portfolio as well and I know its all about getting good deals and not about the market however, im not going to lie...i don't want to make bad decisions before a probable downturn.

Man...glad i found this thread... this rule doesn't make sense to those of us who work remotely.  I could essentially move anywhere whenever i wanted as my job is completely remote.  Id just need to put in an address change at my company.  It doesn't make sense that you have to get in a lease just to prove a local address where then you couldn't easily get into your house hacked unit.

Sure thing Rachelle! 

Very interested in this thread.  I am in the same situation.  Always thought I was saving down for a good downpayment on a house until i got bit by the real estate bug over a year ago.  Been researching since.  I now plan to continue to rent and build a portfolio.  I work remote so I can move anywhere.  Thinking about house hacking for a year and building a portfolio in a good market for cashflow.  The hard part is choosing the right market and moving there.  I want Florida but really difficult to find properties that make sense.  I just wish the market would tank already.

I was worried about that. That's a deal breaker for those of us looking to scale a cash flowing hold portfolio :(

@Anthony Lynch, who did you end up with?  Any recommendations you could pass on to me?  I have tried calling a few property managers in the area and I am not getting a good feeling that honest reliable property management is in this area.

Does anyone have recommendations for a good property management company for the Troy Area?  I only find 3 with reviews...all are bad reviews.  I called all three just to get info on the market of a property I am looking at and it was like I was asking questions never uttered before.

Assuming this is a BRRR...another thing to think about...are you going to self manage this property the entire time its in your portfolio? If you want to scale quicker, you would likely want property management at some point...even if thats far down the road. That's another 10% or so.

I'm always really conservative with my numbers...better to be happily surprised saving more than you projected opposed to a few events tanking best case scenario projections.  Just my opinion...probably why I can't find properties anywhere...maybe I need to lighten my numbers, lol.

You aren't budgeting for capital expenditures?  2% estimate for routine maintenance seems really low...even for a new property.  I typically round up vacancy to at least 5 to give a buffer.  These estimates seem very aggressive to me.