All Forum Posts by: Marc Roberson

to get to the point, i would find an area likely to experience more demand and ensure the financials work out for both MTR & LTR's. i would ideally start out with a fourplex and depending how that goes, possibly scale from there. 

i do believe that it is more traditional to syndicate on larger properties so i am wondering if you know if it is possible to syndicate, starting off, for one fourplex or even one MTR condo. 

my gut feeling is to start with one beach-front condo in florida that requires $37,250 down . a new construction fourplex, however, i could finance with a USDA loan myself and not have to consider investors so that may make things easier, possibly.

no airbnb's. maybe VRBO. two week minimum stay. only in areas very likely to have housing demand due to new factories being built.

i own/run an STR right now and it is going well with only the occasional hiccup.

Hello,

Will be looking to build in approx. two years as other things are going on that will push a build out til then but until that time I am looking to see what you think in terms of which is best long term. My "dream house" would be a barndo on quite a bit of land which I think would result in a lot of equity right off the bat but then Im also thinking hat if I could develop land and instead put a fourplex on it, that may also be a good option. I do not know which is "best." Of course I would like cashflow sufficient to allow me to quit a full time W2 job but that seems bleak and I have always wanted to develop land.

 100% This.

Hello, 

Am looking to purchase a four unit but where I live those are going for $700k + and it is out of my price range, nor would it make financial sense because it wouldnt cashflow at all. That said, where Im originally from, four plexes are much cheaper and cashflow much better, but I would like to continue to head West, not back East. Anyone have any ideas for finding specific areas where the price-to-rent ratio tend to be better for cashflow? Is it generally the midwest? Best deal ive found are about 125:1 out West whereas in the midwest, Im seeing 95:1 and better. I am somewhat mobile and am considering relocating. Tia.

Is it best to continue RE Agent/investing career in lower purchase price areas or continue where I am, near Denver, CO, where the same home I could buy in the Carolina's for $283,000 would go for a minimum $445,000 here......?

Here's another part of the equation....

The ideal/dream home I want is a 5/3, min one acre of land, oceanfront or lakefront. In Colorado that would run me at least 1.5M if not more. in the Carolinas that would be closer to $800k - so roughly half of what id pay out west. 

If that is my ideal type of home, would that make it an even better idea to transition to the Carolina's.....?

tia

Question for BP... would you DIY finish your basement, costing $20k on 24 months no interest financing and adding roughly $50k to your homes equity, or spend those hundreds and hundreds of man hours instead building your real estate business with an end goal of being able to leverage $50-70k to put down on a multi fam property without having to go $15k in debt to create equity, but having no guarantee you'll make it as an agent. Method 1 is much more certain in creating equity to then use on a heloc and method 2 is going straight to work... thoughts. am brand new to the area. very little if any SOI.

ty for the input. it would be enough for a 4 plex. also i could hold off until i came up with 100k somehow and tried to go bigger. ty for the feedback that it is a great plan. 

just so im following ... use that 50k for a purchase but then try to finance the reno cost? once complete (say value now is 100k) refi out the equity (say 70k / take on a mortgage), pay myself back the 50k plus some and hold to either sell or get a tenant in there?

current situation- 

own a single family home, just built, payoff is 435k

will DIY finish the basement (have done it before), should reasonably bring the value to 519k (if not more)

equity should then be 519k - 435k = 84k

say bank will only allow 70% of equity to be leveraged

use 70% of 84k or about 58k to then buy an income producing property (maybe 2)

if this plan sounds reasonable, would you then use say 50k on a 2/3/4/6 or 8 family.. ?

end goal is passive income - enough to leave the 9-5. and i guess everyone has to start somewhere. 

I have nothing else of value to add, just to echo this.