All Forum Posts by: Marc Stevenson

@Gina Huerta love the house hacking model.  My daughter is in college and that is our plan for her as well.  I'm a big believer in the buy and hold in this market.  I think there's a time to either cashout refi or sell but that is when you've accrued enough equity to parlay that into two more properties (which usually take about 5 years or so depending on the market).  Honestly, my plan is to buy and hold for the long term and just get as many properties up and running as possible.  Either way it looks like you're on the right track.  I'd move every year if I could but my wife would kill me :)  Happy Investing!

@David Castillo Yep I agree....exactly what Karl said. You've already got a multi-unit producing a positive cash flow...that's great...congratulation!!! Most will never do even that. I'm a BRRRR Investor as well. Now that you know that process...save save save and position for the next property. You're on the right track. Happy Investing!

@Thomas Harris as an investor myself I certainly understand the trepidation as to whether rents should be raised.  Our experience has been that it's better to do small annual increases as the market dictates rather than wait several years and then have to do a big jump.  At least in Texas property tax appraiesed and assessed annually which typically increases yearly taxed each year.  Hope this helps.  Happy Investing!

@Timothy Allen A reputable PM should have no problem with this.  One question to ask is do they require a lock in period?  If they are confident in their ability to provide excellent service there should be no need to lock an owner in to something they have not experienced.  Example we only require a 30 notice (just enough time to inform tenants) if an owner wished to terminate the PM agreement.  Happy Investing.

@Darashaun Williams I would say make sure you understand early that percentage of the ARV (After repaired value) they will actually lend. Many hard money lenders have adjusted with the recent interest rate hikes. Also, some do not require out-of-pocket money as long as you're under the ARV while others will still require you to bring some out-of-pocket money to the deal. We prefer to work with those that do not require it. Also, know your terms. There are some lenders that do not require a payment for up to 12 months while others will have you start right away. I tend to go with those that don't require payments right away so I can have a little time to make the repairs and get it leased. Hope this helps.

@Kyle Mccaw Absolutely!!!

@Jimmy Bell I agree with Brian Adams.  A good PM in the area you are investing can save you so much headache and money.  A good one will have their employees for maintenance rather than having to 3rd party everything out, vendors that have been properly vetted that won't run off with your money and a slew of other benefits.  Happy Investing!

@Jack Wang Definitely do your research on PM.  I'd start by asking around and seeing who your local investors and using and why.  We currently serve the state of Texas, but If it's helpful reach out to me and I can shoot you a list of questions you should ask to determine if a PM is the right one for you.  Good luck and happy investing!

@Frank Yaccarino I've had a great experience with LU.  I've met some great people who have become friends.  I go every month to the meetings to stay motivated, continue to meet people and to learn.  Thier vendors are a great resource, and many are happy to give you input when they know you are connected to LU.  Just my opinion.  Good luck and happy investing!

@Aaron Gore It's important that if you are self-managing that you know the terms of the lease inside and out and follow the lease.  Also make sure you are aware of the tenant laws in your area.  One of the challenges of self-managing is being firm but kind.  I own multiple properties and we all have hearts, but it seems like there is always a story/reason someone can't pay rent.  I've seen investors with good intentions/hearts get burned for months of rent.  If you find that self-managing is not what you want to have to do, that's where a good PM can come in handy.  Do some research in your area and see who the investors are using.  There are some questions you should ask before choosing.  Good Luck and happy investing!