All Forum Posts by: Liam Naughton

Hi Joseph and welcome! :)

Hi Hyeoseong!

If you have your FHA loan available I'd recommend setting up a house hack and then going for a BRRRR.

You could consider the option of going for a BRRRR first while you wait for interest rates to come down on an owner-occupied purchase. The timing on that might line up pretty nicely if you can do a cash-out refi in 6-9 months.

My personal opinion is that you should start the timer on an owner-occupied, low-down, investment asap. It will be a cornerstone to the foundation that builds your portfolio.

Hi Sindy,

You're probably going to have to close the auction purchase with cash, or hard money at which point you could probably refinance into an FHA loan if the house passes inspections etc.

Hey Kevin,

For sellers: Go to your local title and escrow company and buy a couple of lists that you can get skip-traced.

Ask for out-of-state owners, homes with high equity (80%+), and drive around to find addresses of houses that have deferred maintenance. 

For buyers: Find flips that have been done in your area, look up the LLC and find their phone number on the secretary of state website. Or you can ask the agent who sold the deal to connect you with the investor.

Good luck!

Welcome Lataw!

Go for it! Owner-occupied loans on multifamily is probably the fastest way to grow your portfolio.

Also take a look at down payment assistance loans if you want to keep your cash on hand for renovations/cap ex. (Can't use it on multi but you can get a big house)

Good luck!

@Dave Meyer is the guy who knows

Hey Colby!

Here're some that I've read recently. They're not specific to investing but have helped me tremendously in negotiations and conversations in the real estate realm.

48 Laws of Power by Robert Greene

Never Split the Difference by Chriss Voss

Rich Dad Poor Dad by Robert Kiyosaki (reread and I'm sure you've read it but never bad to go through it again)

The Artists Way by Julia Cameron

The 7 Habits of Highly Effective People by Stephen Covey (reread)

Think and Grow Rich by Napoleon Hill (reread)

Atomic Habits by James Clear

Four Thousand Weeks by Oliver Burkeman

Deep Work by Cal Newport

Hi Taylor!

Appreciation tends to be more insulated on higher-priced homes because those neighborhoods tend to have populations with higher incomes who are less affected by any market swings.

In terms of tax benefits (always talk with a CPA) it depends on how you're running your properties. If you're spending a lot of money fixing them and managing them you're going to have more to write off. Depreciation will be higher on more expensive homes because it's percentage-based.

High cash flow is great! As long as the houses (and tenants) don't continually cost you money in renovations. Make sure you reinvest the money into the property and have cash on hand for any capital expenditures you might need in the future.

Good luck! 

A pipe burst at one of my properties due to the cold weather.

I called around to get it fixed and ended up going with a referral from someone at my brokerage.

RED FLAG #1: He sounded rushed on the phone, he was in the middle of something and sounded like he was moving too quickly.

He mentioned that he could get to my property later on that same day which would've been nice but brings us to,

RED FLAG #2: He canceled for the evening saying the job he was at was taking longer than expected and told me he could get to it the following morning.

RED FLAG #3: At no point during any of our phone calls does he mention a price.

But I figured hey, since it's a recommendation from a coworker, pricing can't be too bad. We're both investors after all.

While working on the job, he was cursing and making a huge fuss about replacing copper piping that had burst in multiple locations. The whole job took about 2 hours and cost...

$1,250.00

I had already turned the water main off and easily could've waited to bid out the project and saved hundreds of dollars.

Don't do what I did... Don't get rushed into a project, if you can take your time, do take your time. It'll save you money and buyer's remorse.

Hello and welcome Abram!