All Forum Posts by: Luis Moreno

My thoughts on my investment strategy would look like this, in a perfect world. If I find a fixer upper for $30K say in TX and buy it cash. Assuming the property only needed $10K of renovations done to to make it renter ready and appealing to the renter. The $10K would come from a small loan, that i would try to pay back asap.Then say the Property rents for $1000 a month. I'm assuming that the property management company would coast 10%. It would then take me about 11 moths to pay off the small loan. After that then i would start saving for the next investment.

Thank you all so much for your post's, answering my question. There is a great amount of wisdom, knowledge and experience that i have not inquired yet. 

My thoughts on my investment strategy would look like this, in a perfect world. If I find a fixer upper for $30K say in TX and buy it cash. Assuming the property only needed $10K of renovations done to to make it renter ready and appealing to the renter. The $10K would come from a small loan, that i would try to pay back asap.Then say the Property rents for $1000 a month. I'm assuming that the property management company would coast 10%. It would then take me about 11 moths to pay off the small loan. After that then i would start saving for the next investment.

what am i missing in my monthly coast's of being a Landlord?                                           Ex: Renters Insurance, Set aside 20% for future repairs? 

Hi I live in San Diego and all the real estate over here is very expensive. I read that you have to start small so I was looking into buying a property out of state around 20K-30K cash then taking a small loan for the renovations that would be needed to make the multi family home rent ready. I know I will need a property management company. Do you guys think this can work if I don't live near my investment property?