All Forum Posts by: Logan Olsen

@Timothy Boyd could you please send me contractor recommendations as well? 

Hi Harold, could you provide any contacts to contractors, handymen, plumbers, etc? I'm trying to establish a good team of contractors to help support an investment property and a few properties I plan to manage for family members.. Anything helps! 

@Bill B., thank you for your thoughtful response. It's helpful to get others insight as a first time investor and I agree that raising to fair market value is the right move.

@Tanner McGrew, best of luck with your situation! 

Thanks,

Logan

Hello BP community,

I am strongly considering putting in an offer for a 4-plex. I've run the analysis and the numbers work well for my defined criteria (CoC, Caprate, cash flow, etc). The one catch is, the current rents are well below market rate (current: $475/unit, market rate: ~$750). The current tenants have been there ~5 years. I don't have details regarding the tenants financial situation but I imagine bumping the rent to market prices would have a big impact on them. I'm struggling a bit with this ethically. I do not want to be a "slum-lord" or "penny-pincher". I also don't want to displace long-term tenants. But I think it's a good deal and I'm fairly certain if I don't buy it, it will be bought by another investor who will also raise rents. Does anyone have a good way to approach a situation like this?

Thanks,
Logan

Hey Everyone,

Really excited to join the BP community and start learning from you all. I'm new to real estate investing and I am struggling to define my investment strategy. I have done the following:

1) identified a market to invest in (I will be investing out of state but in an area with family) 

2) identified an investor friendly agent /property manager and contractor. 

3) found two lenders I liked and have been pre-approved for a conventional 30-yr loan

4) determined that my first property will be a 2-4 multi-family 

What I am struggling with is defining a strategy. Specifically, optimizing cash flow vs. appreciation. I've analyzed ~40 properties and have found a few good cash flowing quads in a suburban area where appreciation might not be great. I've also found a few properties close to the city that are in areas under going gentrification. They may not be as good from a cash flowing perspective but I think the location is great...

Any advice for a newbie investor who is trying to get into the game? 

Thanks,

LO